Wed, Mar 20, 2019
Annual Growth Projected At More Than 20 Percent Through The Forecast Period
According to the new market research report "eVTOL Aircraft Market by Lift Technology (Vectored Thrust, Multirotor, Lift Plus Cruise), MTOW (<250 KG, 250 - 500 KG, 500 - 1500 KG, >1500 KG), Application, Mode of Operation, Type of Propulsion, Range, and Region - Global Forecast to 2030", published by MarketsandMarkets, the eVTOL aircraft market is projected to grow from $162 million in 2025 to $411 million by 2030, at a Compound Annual Growth Rate (CAGR) of 20.42% from 2025 to 2030.
The growing demand for an alternative mode of transportation in urban cities due to increasing road traffic congestion globally is a major factor driving market growth.
Based on lift technology, the eVTOL aircraft market has been segmented into vectored thrust, multirotor, and lift plus cruise. The vectored thrust segment is projected to grow at the highest CAGR from 2025 to 2030. This projected growth can be attributed to the higher efficiency and endurance achieved by eVTOL aircraft due to the vectored thrust technology. With significant investments pouring into the development of drone infrastructure, the possibility of using drones for passenger and cargo transport is on the rise. The capability of the vectored thrust technology to support eVTOL aircraft operations for longer distances as compared to other lift technologies is expected to grow this segment at a higher rate.
Based on mode of operation, the eVTOL aircraft market has been segmented into piloted and optionally piloted. The optionally piloted segment is projected to grow at a higher CAGR than the piloted segment during the forecast period. The growing demand for autonomous eVTOLs for commercial application is expected to drive this segment. Autonomous aerial vehicles can be used in several areas of operations. These vehicles are programmable autonomous robots that can carry out tasks at high altitudes with increased power capacity.
(Source: MarketsandMarkets news release. Images from file)
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