Electric Vertical Take-off and Landing (eVTOL) is an electric or hybrid aircraft that can hover, take off, and land vertically. In mid-2018, Embraer S.A. made public its first eVTOL aircraft concept at the Uber Elevate conference held at Los Angeles. The company’s concept aircraft uses 8 rotors to deliver vertical lift, until the moment, the aircraft shifts to horizontal flight when pusher propeller offers forward momentum and lift is upheld by a short wing. The company strategizes to serve passengers in an urban market as part of Uber’s envisioned aerial taxi network. In addition, several traditional companies and start-ups have collectively attracted more than US$ 1 billion of investments for eVTOL. As a result, the General Aviation Manufacturers Association (GAMA) states that eVTOL stands at the cusp of major advances.
Electric Vertical Take-off and Landing (eVTOL) Aircraft Market – Competitive Landscape
- In May 2019, Airbus Group Inc., a key player in eVTOL aircraft market, announced a huge performance improvement to its single-aisle aircraft – the A220 family. According to the company, the range is increased up to 450nm which will open new route possibilities for airlines around the world, and will be offering increased range that starts from H2 2024.
- In December 2018, LIFT Aircraft revealed its new eVTOL Aircraft called Hexa Electric that will help people take recreational flights. It is personal multirotor, 432lb semi-autonomous aircraft that looks similar to a large drone, and is equipped with 18 sets of propellers, motors, and batteries.
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Aurora Flight Sciences Corp
Founded in 1989, Aurora Flight Sciences Corp, an independent subsidiary of Boeing Company, is based in Manassas, Virginia. The company is a leader in the development and manufacturing of advanced unmanned systems and aerospace vehicles.
Lilium GmbH
Established in 2015, Lilium GmbH is based in Wessling, Germany, and markets as an internationally renowned high-tech hub for mobility. The company is engaged in designing and manufacturing electric vehicle take-off landing jets.
Embraer S.A.
Founded in 1969, Embraer S.A. is headquartered in São Paulo, Brazil, and operates through four main segments including Commercial Aviation, Executive Jets, Defense and Security, and Service & Support. The company solely designs, develops, manufacturers, and sells aircrafts and systems in Brazil, North America, Latin America, Europe, and the Asia Pacific.
Neva Aerospace Ltd.
Founded in 2009, Neva Aerospace Ltd. is based in Brighton, United Kingdom, and develops technologies for unmanned air vehicles (UAV), unmanned air cargo (UAC), electric aviation, and aerial robotic platforms (ARP). The company also offers solutions based on autonomous, low emission aerial robots.
Volocopter GmbH
Established in 2012, Volocopter GmbH is headquartered in Bruchsal, Germany, and specializes in manufacturing electric helicopters for transporting passengers. The company offers a vertical take-off and landing (VTOL) rotary wing called Volocopter 2X.
Electric Vertical Take-off and Landing (eVTOL) Aircraft Market – Dynamics
Rapid Urbanization and Demand for Efficient Transportation Systems to Promote eVTOL Aircraft Market Growth
Increasing road traffic congestion in urban areas along with the growing need for quick transportation continues to fuel the growth of electric vertical take-off and landing (eVTOL) aircraft market, as the particular aircrafts offers the benefits of time efficiency and low operation cost. According to the United Nation (UN), around 70% to 80% of the global population is expected to reside in cities by 2050. This has raised new challenges as well as opportunities for more efficient and sustainable mobility solutions, providing potential growth prospects of electric vertical take-off and landing (eVTOL) aircraft market across the globe.
Certification is one of the key factors that currently affects electric vertical take-off and landing (eVTOL) aircraft market growth. While authorities such as the European Union Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA) have been co-ordinating with the GAMA membership for several years and a number of projects have begun mature certification efforts, several tasks are yet to be accomplished to conclude regulatory environments related to design and process of eVTOL aircrafts.
Electric Vertical Take-off and Landing (eVTOL) Aircraft Market – Segmentation
On the basis of lift technology, the electric vertical take-off and landing (eVTOL) aircraft market can be segmented into:
- Multirotor
- Lift Plus Cruise
- Vectored Thrust
- Others
On the basis of type of propulsion, the eVTOL aircraft can be segmented into:
- Electric Battery
- Hybrid
- Electric Hydrogen
On the basis of MTOW, the eVTOL aircraft can be segmented into:
- <250 Kg
- 250-500 Kg
- 500-1,500 Kg
- Above 1,500 Kg
On the basis of mode of operation, the eVTOL aircraft can be segmented into:
- Optionally Piloted
- Piloted
On the basis of range, the eVTOL aircraft can be segmented into:
- 0-200 Km
- 200–500 Km
On the basis of application, the electric vertical take-off and landing (eVTOL) aircraft market can be segmented into:
- Commercial
- Military
The report on electric vertical take-off and landing (eVTOL) aircraft market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The electric vertical take-off and landing (eVTOL) aircraft market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The eVTOL aircraft market report also maps the qualitative impact of various market factors on market segments and geographies.
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