The global EVTOL aircraft market is projected to reach $1.75 billion by 2028.
From GlobeNewswire: 2025-03-27 07:09:00
The global EVTOL Aircraft Market is projected to reach $1.75 billion by 2028 with a CAGR of 35.6%. Companies are focusing on testing and certifications to meet market demand, with Joby Aviation delivering its first eVTOL aircraft to Edwards Air Force Base. Urban air mobility is driving the adoption of air taxis globally.
The EVTOL aircraft market is growing due to advancements in urban air mobility, with eVTOL aircraft being used for air taxis, cargo transport, and medical services. Companies like Airbus and The Helicopter Company are spearheading urban air mobility initiatives. The industry is expected to see significant growth in the coming years.
EVTOL aircraft are gaining traction in last-mile delivery services, offering operational ease, minimal noise pollution, and reduced carbon footprint. Companies like UPS are collaborating with manufacturers like BETA Technologies for testing eVTOL aircraft in various regions. The market is expected to see continued growth in e-commerce applications.
North America currently leads the EVTOL aircraft market, followed by APAC and Europe. Asia Pacific is expected to have the highest CAGR during the forecast period. The market is segmented based on lift technology, propulsion type, application, and operation mode, with various players like Airbus, Boeing, and EHang driving innovation and competition.
Recent developments in the EVTOL aircraft market include collaborations between Archer Aviation Inc. and UAE entities for electric air taxi operations in Abu Dhabi. Honda’s eVTOL aircraft also received a design award for its hybrid power unit. The market is evolving rapidly, with infrastructure development like vertiports lagging behind aircraft manufacturing advancements.
To navigate the evolving EVTOL aircraft market landscape, stakeholders can leverage insights from The Insight Partners’ comprehensive report. The report provides valuable information for raw material providers, manufacturers, suppliers, distributors, and end-users to unlock new opportunities in the market. With the industry rapidly growing, staying informed is key to success.
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