Key Highlights

• Technological advances in the field of electric vertical takeoff and landing aircraft design continue to be considered for economic impact in the context of eVTOL. Manufacturers are investing in new technologies such as situational awareness, detection and collision avoidance. Effective detection and prevention using microwave or millimeter wave technology allows accurate identification and rapid decision-making in a hostile operating environment. For example, Sagetech Avionics Inc. Develop a set of evidence-based detection and avoidance systems and knowledge-based solutions for urban climates. Stringent certification and increasing needs for commercialization of electric vertical take-off and landing aircraft should drive the development of technologies related to the safety of passenger vehicles.

• The market size of the worldwide VTOL Aircraft Industry surpassed USD XX Billion in 2023, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.

• June 2022 - Latin American helicopter operator Helisul Aviation has ordered 50 of Eve Urban Air Mobility's electric VTOL air taxis for urban air operations in Brazil. Deliveries are expected to begin in 2026.

• Increasing demand for electric vertical takeoff and landing aircraft as a mode of transportation for security, maritime reconnaissance, satellite imaging, cargo management and delivery of goods in aviation applications is driving business expansion. The importance of finding victims and providing them with food packages for rescue operations during natural disasters such as floods and earthquakes, and the strong desire for green airlines, are driving business needs. But one of the most difficult tasks eVTOL companies face is creating an aircraft that is efficient and complies with government restrictions. Government investments in R&D and technological development in the aviation industry, demand for other modes of transportation such as taxi services, public awareness of the ecological footprint, and desire for modern and innovative all-electric and hybrid electric eVTOL configurations are driving market growth. In applications such as firefighting, health and safety, search and rescue, humanitarian aid and law enforcement, eVTOL aircraft have the potential to become essential tools for utilities worldwide.

Scope of the Industry Profile

Key Players

• Turkish Aerospace, Industries Inc (Turkey)

• Boeing Company (US)

• Textron Inc (US)

• Saab Group (Sweden)

• AeroVironment Inc (US)

• Schiebel Elektronische Gerate GmbH (Austria)

• Israel Aerospace Industries Ltd (Israel)

• Lockheed Martin Corporation (US)

• DJI Innovations (China)

• Northrop Grumman Corporation (US)

Segmentation

By Propulsion Type

• Electric Powered

• Hybrid

• Fuel-Cell

• Fuel-Powered

By Mode of Operation

• Autonomous

• Semi-Autonomous

• Piloted

By Lift Technology

• Vectored Thrust

• Lift plus Cruise

• Multicopter

• Other Technologies

By Type

• Fixed-Wing VTOL

• Rotary-Wing VTOL

• Hybrid VTOL

By Application

• Military Application

• Government & Law Enforcement

• Commercial Application

What to Expect from Industry Profile

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the VTOL Aircraft market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global VTOL Aircraft market.

3. Leading company profiles reveal details of key VTOL Aircraft market players’ global operations, strategies, financial performance & their recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global VTOL Aircraft market with forecast for decade by both market share (%) & revenue (USD Million).

Recent Development

• June 2022 - Eve Urban Air Mobility has received an order for 200 four-seat eVTOL air taxis from Halo, a general-purpose commercial vehicle manufactured by United Aircraft Group. (AAG). It is expected to start in 2026.

• April 2022 - United Parcel Service contracts to purchase 150 e-VTOL aircraft from Beta Technologies to begin time-sensitive zero-emission deliveries. Delivery of the aircraft is expected to begin in 2024.

Segment Insights

By Propulsion Type

The demand for electric vertical takeoff and landing (eVTOL) aircraft is driven by many errors. First, increased urbanization and traffic in many urban areas have created the need for new transportation that bypasses traditional routes. Electric VTOL aircraft offer the potential for urban air movement with their vertical takeoffs and landings, making operations faster and more efficient. Secondly, increasing interest in environmental sustainability has led to increased interest in electric propulsion systems. Electrically powered eVTOLs are seen as a clean, quiet alternative to other competing helicopters or hybrid engines, reducing carbon emissions and noise. Additionally, advances in battery technology have improved the range and performance of eVTOLs, making them more useful in broader applications, from vehicles to city taxis to medical transportation and transportation. These factors, combined with investment and innovation in the electric VTOL industry, are driving demand for electric VTOL aircraft as the transportation promise of the future.

By Mode of Operation

The demand for autonomous electric vertical takeoff and landing (eVTOL) aircraft is driven mainly by the search for new transportation solutions. First, the fast pace of international trade and transportation has created the need for more comfortable and flexible transportation. Autonomous electric vertical takeoff and landing aircraft promise on-demand, air-free transportation, offering strategic solutions to solve city traffic. Advances in technology, including artificial intelligence and hearing, have reached a level of increased flight control, safety and security. This development increases confidence in the feasibility of autonomous eVTOLs for passenger and cargo transportation. Additionally, the focus on reducing carbon emissions and environmental impact has led to increased interest in electric and piloted aircraft, making eVTOLs an excellent choice for autonomous urban transportation. The combination of urbanization, technological development and security problems increases the need for electrical control of vertical takeoff and landing aircraft as a means of transportation.

Regional Insights

North America should be the leader in the global market because in the United States, Joby Aviation, Bell Textron Inc., Kitty Hawk, etc. There are big companies. Additionally, further investment by the US government towards the development of VTOL aircraft is also expected to boost market growth. For example, in May 2021, the US Air Force Research Laboratory (AFRL) awarded Bell a $950,000 contract to conduct research applications on high-speed vertical takeoff and landing aircraft. The Asia-Pacific region is expected to grow at a higher CAGR as electric vertical lift and landing gear manufacturers such as EHang increase investments in the development of urban air conditioning solutions. Additionally, urbanization in the region is expected to increase economic growth. The European market is expected to grow further, with many European cities joining the Urban Air Mobility (UAM) initiative as part of the European Innovation Partnership for Smart Cities and Communities (EIP-SCC). The Middle East, Africa and Latin America market is expected to grow due to the increase in VTOL aircraft in the region.