Industry Reports

Growing environmental concerns and increasing number of passengers are driving electric aircraft market revenue growth Market Size – USD 103.5 Million in 2020, Market Growth – at a CAGR of 8.2%, Market Trends – Increased R&D activities in aerospace industry The global  electric aircraft market  size is expected to reach USD 226.6 Million in 2030 and register a revenue CAGR of 8.2% during the forecast period, according to the latest report by Reports and Data. Rising demand for low maintenance aircraft is driving electric aircraft market revenue growth. Electric aircraft reduces carbon footprint from an aircraft and this feature is expected to increase its adoption. Global aircraft fleet size is increasing due to more air travel and this is consequently leading to an increase in carbon-dioxide emissions. Therefore, a pressing need for electric aircraft has been generated to minimize emissions. Additionally, these aircrafts eliminate the requirement for fossil fuels to maintain