Electric Aircraft Market, Electric aircraft have the potential to improve aviation by lowering fuel costs and carbon footprint. Due to strict pollution regulations and the need for sustainable aviation, there is a considerable demand for electric aircraft. The market growth is anticipated to be constrained by the high price of electric aircraft and the lack of a charging infrastructure. Another benefit of employing electric aircraft is less noise. Jet engines are used by electric aeroplanes, and they are quieter than conventional piston engines. This is an important aspect that has led to a rise in the use of electric aircraft by commercial airline operators around the world. Electric aircraft can operate in noise-sensitive regions, such as close to airports, thanks to the lower noise levels.
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.
Demand for electric aeroplanes is growing as the number of passengers flying across the world rises. In recent years, middle-class people have developed the disposable money necessary to pay for air travel, which is a development that has affected developing nations. The overall number of passengers on planes increased by a million from 2017 and 2018. Air traffic is also rising as a result of the tourism sector’s ongoing expansion. As a result, there is a growing need for aircraft, and manufacturers are being urged to create environmentally efficient aircraft. Additionally, the growing demand from the logistics industry is opening up profitable expansion potential for electric aircraft. Logistics industries have been concerned about cargo aeroplane emissions. To reduce carbon dioxide emissions, participants in this sector are systematically investing in electric forms of transportation.
Global Electric Aircraft Market: Major Players
Global Electric Aircraft Market: Types
Solar Powered Aircraft
Battery Electric Aircraft
Fuel Cell Electric Aircraft
Global Electric Aircraft Market: Applications
Aerospace & Defense
Some Key Highlights from the Report
- The business aviation segment is projected to grow at a significant CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for electric aircraft from various business aviation operators, such as Flexjet and NetJets.
- Ultra-light segment accounted for the largest market share in 2019 and is projected to grow at a significant CAGR during the forecast period. The growth of this segment is attributed to the low fuel consumption, which in turn reduces operating costs.
- The two-seater aircraft segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for these aircraft from flight training schools and private pilots.
The entire market for electric aircraft has increased as a result of an increase in government laws regarding aviation emissions. In addition to the growing demand for fuel cells in electric aircraft, technologically advanced battery materials, and cutting-edge asynchronous propeller technology to meet the wide range of consumer requirements, this factor drives OEMs to concentrate on these aircraft in order to capture newer markets in developed and developing countries. Over the course of the forecast period, the market share is anticipated to rise globally. The market for electric aircraft is expected to expand, mostly due to the increased demand for better aircraft performance when using electric technology to reduce carbon emissions.
This report examines all the key factors influencing growth of global Electric Aircraft market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Electric Aircraft market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.