Electric Aircraft Market (By Platform: Regional Transport Aircraft, Business Jets, Light and Ultralight Aircraft; By System: Batteries, Electric Motors, Aerostructures, Avionics, Software, Others; By Type: Fixed Wing, Rotary Wing, Hybrid Wing; By Technology: CTOL, STOL, VTOL; By Application: Civil, Military, Others; By Range: Less than 500 KM, More than 500 KM) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030


The global electric aircraft market size was valued at US$ 10.93 billion in 2021 and it is expected to hit US$ 39.61 billion by 2030 with a noteworthy CAGR of 15.4% from 2022 to 2030.

Electric Aircraft Market Size 2021 to 2030

Growth Factors

The airplane needs large amount of fuel and gasoline. This results into high cost for aviation industry to manufacture airplanes. This factor is driving the adoption and acceptance of electric airplane on a large scale. In addition, the growing preference technologically advanced products is aiding the growth of the global electric aircraft market.

The growing environmental concerns are also helping to drive the electric aircraft market growth. The use of electric aircraft helps in the reduction of pollution levels. This also results in decline of adverse effects of global warming. Additionally, the electric aircraft is regarded as eco-friendly solution for the environment. The government of developed and developing regions is also taking efforts in order to curb effects of carbon emissions and greenhouse gases emissions. This factor is supporting the growth and development of the global electric aircraft market over the forecast period.

Another factor that is propelling the growth of the global electric aircraft market is technological developments in the aviation industry. The aircraft are being manufactured with the help of various technologies. The electric aircrafts are being deployed with the autonomous systems. Some of the electric aircrafts are also being utilized in military and defense sectors. These factors are spurring the expansion of the electric aircraft market globally.

Report Scope of the Electric Aircraft Market

Report Coverage Details
Market Size by 2030 USD 39.61 Billion
Growth Rate from 2022 to 2030

CAGR of 15.4%

Largest Market North America
Fastest Growing Market Europe
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Platform, System, Type, Technology, Application, Range, Geography
Companies Mentioned Pipistrel Group, Airbus, Bye Aerospace, Aerospace Limited, Yuneec Holding Limited, Leonardo S.p.A., Faradair Aerospace Limited, Boeing, Digisky S.R.L., Groupe Gorge

 

The rising disposable income and rapid urbanization is increasing the number of passengers for airlines. This surge in number of passengers is resulting in to the adoption of advanced technology and innovative aircrafts. The rapid growth in economies is also resulting into the growth of the electric aircraft market over the projected period. In addition, the growing sales of electric aircraft through original equipment manufacturers (OEMs) are boosting the growth of the electric aircraft market.

The government of Europe and North America regions is constantly working for the installation and implementation of electric aircraft. The government is launching new development programs for this. The original equipment manufacturers (OEMs) have started deploying electric motors and batteries on large scale. The utilization of these devices is cost effective in nature as compared to traditional devices.

On the other hand, the biggest challenge that aviation industry and electric aircraft manufacturers face is the development of high-density batteries. Till now, the manufacturers are not able to develop batteries which can run for long distance. The batteries do not have long shelf life, which is restricting the electric aircraft market growth.

Platform Insights

The light and ultralight aircraft segment dominated the electric aircraft market in 2021. The demand for light and ultralight aircrafts is rising at a rapid pace. This is attributed to the modernization of aircrafts and technological advancements and product innovation in the electric aircraft market. In addition, the light and ultralight aircraft are easy to drive. Furthermore, the rising recreational activities are also driving the growth of the light and ultralight aircraft segment.

Electric Aircraft Market Share, By Platform, 2021 (%)

The business jets segment is fastest growing segment of the electric aircraft market in 2021. The growing tourism sector is contributing towards the growth of the segment. This is attributed to the growing number of people with high net worth and the launch of programs for business jets. In addition, the business jets are mostly used by businessmen to travel within a region to save time.

System Insights

The electric motors segment accounted largest revenue share in 2021. The growth of the segment is attributed to various benefits provided by electric motors. Those benefits are high performance and low cost of operations and maintenance. The electric motors are more efficient and effective in nature as compared to traditional motors.

The batteries segment is fastest growing segment during the forecast period. The aircraft batteries use two kind of materials which are common in nature. Those two types of materials are nickel cadmium and lead acid batteries. These batteries are advanced batteries with several features such as large capacity to store energy and wide range of sizes. In addition, batteries have long shelf life.

Technology Insights

The VTOL segment led the electric aircraft market in 2021. The vertical takes off and landing (VTOL) aircraft lands vertically without landing through runway. This type of aircrafts is fully autonomous in nature. The vertical takes off and landing (VTOL) aircraft are deployed with batteries and electric motors instead of fuel-based motors. The vertical takes off and landing (VTOL) aircraft are cost effective in nature.

The STOL segment is fastest growing segment during the forecast period. The short take off and landing (STOL) aircraft are used on short runways. The short take-off and landing (STOL) aircraft needs distinctive ports. That’s the reason short take-off and landing (STOL) aircraft is also used for defense and military areas.

Region Insights

North America accounted largest revenue share in 2021 owing to growing environmental concerns combined with increasing government initiatives are driving the growth of the electric aircraft market. In addition, the people or business owners in the North America region are using business jets for traveling on a large scale. This factor is also driving the growth of the electric aircraft market in North America region.

Electric Aircraft Market Share, By Region, 2021 (%)

Europe is expected to develop at the fastest rate during the forecast period. The UK dominates the electric aircraft market in Europe region. The electric aircraft market in Europe is being driven by the existence of major market players. In addition, the people in this region can afford to travel with business jets, which is propelling the demand for electric aircraft in Europe region. Furthermore, favorable government policies are contributing towards the market growth.

Key Developments

  • Airbus declared in April 2021 that it plans to replace the mechanical rudder controls on the A320 neo series of aircraft with a full electric rudder system by 2024. The change will take place around the same time as the long range A321XLR, which is being designed with the E-rudder design in mind.
  • Archer Aviation Inc., a U.S. based aircraft manufacturer said in August 2021 that it would collaborate with REEF, North America’s largest mobility hub operator. They would draw up blueprints for landing and takeoff locations in cities. Archer will build vertiports and REEF will provide access to suitable urban sites. Archer would set up shop in places close to high traffic city hubs, maximizing profits from the company’s planned urban air mobility network. 

Some of the prominent players in the global electric aircraft market include:

  • Pipistrel Group
  • Airbus
  • Bye Aerospace
  • Aerospace Limited
  • Yuneec Holding Limited
  • Leonardo S.p.A.
  • Faradair Aerospace Limited
  • Boeing
  • Digisky S.R.L.
  • Groupe Gorge

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Platform

  • Regional Transport Aircraft
  • Business Jets
  • Light and Ultralight Aircraft

By System

  • Batteries
  • Electric Motors
  • Aerostructures
  • Avionics
  • Software
  • Others

By Type

  • Fixed Wing
  • Rotary Wing
  • Hybrid Wing

By Technology

  • CTOL
  • STOL
  • VTOL

By Application

  • Civil
  • Military
  • Others

By Range

  • Less than 500 KM
  • More than 500 KM

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of electric aircraft market?
The global electric aircraft market size was reached at US$ 10.93 billion in 2021 and is anticipated to rake around US$ 39.61 billion by 2030.
The global electric aircraft market is expected to reach at a CAGR of 15.4% from 2022 to 2030.
The major players operating in the electric aircraft market are Pipistrel Group, Airbus, Bye Aerospace, Aerospace Limited, Yuneec Holding Limited, Leonardo S.p.A., Faradair Aerospace Limited, Boeing, Digisky S.R.L., and Groupe Gorge.
The number of passengers for airlines is growing due to rising disposable income and expanding urbanization. Because of the increased number of passengers, modern technology and creative aircraft are being adopted. This factor is driving the growth of the global electric aircraft market.
North America region will lead the electric aircraft market in near future.

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