Electric Aircraft Market Competitive Landscape, Growth Factors, Revenue Analysis, 2022-2030
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 the engines,
which severely affects the environment.
Reduced noise levels is another advantage of using electric
aircraft. Electric aircraft deploy jet or combustion engines, and these engines
do not emit noise. Hydraulic systems are replaced with electric systems in
these aircrafts, which results in improved efficiency. There are several other
benefits which are driving the demand for electric aircraft, such as increased
maneuverability, improved safety, and low risk of fire and explosion.
Deployment of electric motors in electric aircraft has increased its
reliability as electric motors are simply designed with reduced number of
moving parts. Therefore, aircraft using electric motors require low
maintenance, which results in low operational costs.
Companies profiled in
the global market report include Airbus, Yuneec Holding Limited, Pipistrel
Group, Bye Aerospace, Digisky S.R.L, Leonardo S.p.A., Groupe Gorgé , EHang
Holdings Limited, Faradair Aerospace Limited, and Boeing.
Get a sample of the
report @ https://www.reportsanddata.com/download-free-sample/1103
Market Overview:
The Defense and Aerospace
industry caters to two main markets: aerospace and Defense. Aerospace include
the construction, maintenance and sale of commercial aircraft. Defense, include
military weapons and systems that can operate on sea, land, and air for the
protection of the country. Zero-Fuel Aircraft, Structural Health Monitoring
(SHM), Advanced Materials, Additive Manufacturing (3D Printing), Smart
Automation and Blockchain, are some current aerospace engineering technology
trends revolutionizing aerospace sector globally. The aerospace and defense is
a complex and challenging industry as the sector demands extensive R&D
activities and investments in designing spacecraft and aircraft equipment and
other technologically advanced weapon systems.
Some Key Highlights from the Report
- In
June 2021, Volocopter GmbH, a German aircraft manufacturer, conducted its
first flight of an electrical air taxi at La Bourget airport in France.
This electrical air taxi flew a distance of 500 meters at a speed of 30
kilometers per hour, and it was 30 meters above the airport. Additionally,
it offers luggage compartment and two people can be on board at a time.
The goal of this air taxi is to provide service in 2024’s Olympic Games in
Paris.
- Ultra-light
segment accounted for larger revenue share in 2020. Simple design and easy
manufacturing process make ultra-light electric aircraft economical.
Additionally, it ensures safety and easy availability of ultralight
electric aircraft in commercial sectors, which facilitates segment growth.
Light jet electric aircraft travels at a high speed, and can land at any
airport.
- Hybrid
electric aircraft segment accounted for a significant revenue share in
2020. Hybrid electric aircraft utilize fuel-powered engines and batteries
to operate propellers. In some cases, it uses conventional jet engines
along with electrically driven propellers. This type of electric aircraft
offers a design that is not possible in case of fuel-powered engines
alone. It enables noise-free vertical landings and takeoffs. Additionally,
it consists of a large number of electric propellers to facilitate
efficient aerodynamics.
- Increasing
use of electric motors is attributed to its several benefits, which are
low maintenance, and high-quality performance. Electric motors consist of
minimal moving parts and so they require low maintenance, which makes them
highly reliable. Design is simple and no energy is lost during friction
among moving parts. This feature increases efficiency of electric motors.
- Market
in Europe accounted for largest revenue share in 2020. The region has
rapidly adopted advanced materials, such as gamma-titanium aluminides.
This material improves mechanical properties and lowers fuel consumption,
carbon footprints, and noise levels. Presence of several key market
players, as well as their increasing investment toward research and
development (R&D) activities, is driving electric aircraft market
growth in various regions. Regulatory bodies, such as the European Union
Aviation Safety Agency (EASA), are actively focusing on reducing emission
levels, and this is propelling market growth in the European region. This
region has a higher standard of living compared to other regions, and
therefore people can afford electric flights for traveling short
distances.
To understand how
our Electric Aircraft Market report can bring difference to your business
strategy:-Download
Summary
For the purpose of this report, Reports and Data has
segmented electric aircraft market based on type, component, technology, range,
application, and region:
Type Outlook (Revenue, USD Billion; 2018–2030)
- Ultra-light
- Light
Jet
Component Outlook (Revenue, USD Billion; 2018–2030)
- Aircraft
Battery
- Electric
Motors
- Others
Technology Outlook (Revenue, USD Billion; 2018–2030)
- Hybrid
- All
Electric
Range Outlook (Revenue, USD Billion; 2018–2030)
- Less
than 500 KM
- More
than 500 KM
Application Outlook (Revenue, USD Billion;
2018–2030)
- Commercial
- Military
- Others
Regional Outlook (Revenue, USD Billion; 2018–2030)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
Key Questions Answered In The Report
1. What will be the market size and growth
rate in the forecast year?
2. What are the key factors driving the
global Electric Aircraft market?
3. What are the risks and challenges in
front of the market?
4. Who are the key players in the global Electric
Aircraft market?
5. What are the trending factors
influencing the market shares?
6. What are the key outcomes of Porter’s
five forces model?
7. Which are the global opportunities for
expanding the global Electric Aircraft market?
Request a customization
on the report @ https://www.reportsanddata.com/request-customization-form/1103
Thank
you for reading our report. The report can be customized according to the
clients’ requirements. To know more about the report, kindly get in touch with
us and our team will ensure the report is customized to meet your needs.
Table of Contents:
- Global Electric Aircraft Market
Overview
- Economic Impact on Industry
- Market Competition by
Manufacturers
- Production, Revenue (Value) by
Region
- Market Effect Factors Analysis
- Industrial Chain, Sourcing
Strategy and Downstream Buyers
- Supply (Production), Consumption,
Export, Import by Regions
- Production, Revenue (Value), Price
Trend by Type
- Global Electric Aircraft Market
Forecast
- Global Electric Aircraft Market
Analysis by Application
- Manufacturing Cost Analysis
- Marketing Strategy Analysis,
Distributors/Traders
About Us:
Reports and Data
is a market research and consulting company that provides syndicated research
reports, customized research reports, and consulting services. Our solutions
purely focus on your purpose to locate, target and analyze consumer behavior
shifts across demographics, across industries and help client’s make a smarter
business decision. We offer market intelligence studies ensuring relevant and
fact-based research across a multiple industries including Healthcare,
Technology, Chemicals, Power and Energy. We consistently update our research
offerings to ensure our clients are aware about the latest trends existent in
the market.
Contact Us:
John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
Check our upcoming
research reports @ https://www.reportsanddata.com/upcoming-reports
Visit our blog for more
industry updates @ https://www.reportsanddata.com/blogs
Comments
Post a Comment