Global Electric Aircraft Market 2025–2034

Reports Description

The market for electric aeroplanes is expanding as people become more interested in ecologically responsible ways to travel.

According to Custom Market Insights (CMI), The Global Electric Aircraft Market size was estimated at USD 8 Billion in 2021 and is expected to reach USD 10.77 Billion in 2022 and is expected to hit around USD 33 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 16% from 2022 to 2030.

The report examines the Electric Aircraft market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Electric Aircraft market.

Electric Aircraft Market: Overview

Electric aeroplanes are very cutting-edge in terms of technology and operation. For instance, with the aid of electric backup, helicopters can practice safety control during landing in spite of any engineering errors. This acts as a major market-driving factor. Electric aircraft opens up new applications for a variety of innovative electrical systems and components, including printed electronics, smart skin, and structural components, which is expected to further expand the market. The rising use of autonomous systems is fueling the expansion of the global market for electric aircraft. A few other important aspects driving the market demand include the necessity to achieve optimum aeroplane performance, reduced gas emissions and airport noise, reduced operational & maintenance expenses, and the enormous growth in aircraft deliveries.

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 between 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.

Electric Aircraft Market: COVID–19 Impact Analysis

The market for electric aeroplanes has been badly disrupted by the COVID-19 epidemic. The global lockdown, travel restrictions, anti-infection protection measures, and work-from-home rules, which have led businesses and corporate travelers to cancel flight reservations, are just a few of the problems that have caused the market for electric aircraft to undergo a downturn. The number of leisure travelers has also dropped as a result of the epidemic’s increase in the price of airline tickets. However, it is expected that revenue planning would be optimized in the post-COVID-19 environment with the use of new technologies like cloud computing, big data analytics, as well as machine learning algorithms.

Electric Aircraft Market: Growth Drivers

Surging Environmental Concerns

The use of electric aeroplanes is expected to increase since they leave a less carbon footprint. Along with an increase in air travel, the size of the world’s fleet of aircraft is growing, which increases carbon dioxide emissions. In order to reduce pollution, electric aeroplanes are therefore absolutely necessary. These aircraft also eliminate the need for non-renewable fuels, which have a negative impact on the environment, to keep the engines running.

Utilizing electric aircraft more frequently for logistics

The logistics sector is pursuing zero- or low-emission transport solutions due to environmental concerns. The logistics industry is making significant investments in electric-powered vehicle transportation techniques. The cutting-edge technology of the electric aircraft, which enables it to carry cargo on schedule, is also advantageous to the logistics sector. The electric plane is also financially sensible. Thus, the use of electric aircraft for logistics will be the primary driver of market growth throughout the anticipated timeframe.

Electric Aircraft Market: Segmentation Analysis

In our research scope, the Electric Aircraft market is segmented into type, component, technology, and range. The global market for electric aircraft is categorized based on its members, including electric motors, batteries, and others. Electric motors are used more frequently because of their many advantages, including fewer maintenance requirements and superior performance. Electric motors are highly reliable since they have few moving components and demand little maintenance. The design is uncomplicated, and friction between moving parts doesn’t waste any energy. This function increases electric motor efficiency.

Over the projected time, it is anticipated that revenue in the aviation battery segment will increase significantly. The two main types of materials used in aviation batteries for the plates are lead-acid and nickel-cadmium (NiCd). Lead-acid batteries are both technologically and commercially favourable. Among other advantages, these include a wide range of sizes and specifications, a large current capacity, and a tolerance for overcharging and overuse. This battery is also widely available because it is produced by a number of businesses. Additional advantages of NiCd battery use include a simple manufacturing process and a longer life cycle. Additionally, due to their greater specific energy and improved pulse power performance, lead-acid batteries are incomparable.

Report Scope

Key Insights: 

• As per the analysis shared by our research analyst, the Electric Aircraft market is estimated to grow annually at a CAGR of around 16% over the forecast period (2025-2034).
• In terms of revenue, the Electric Aircraft market size was valued at around USD 8 billion in 2021 and is projected to reach USD 33 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The Electric Aircraft market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
• The study includes data on the significant market drivers, challenges, and opportunities and their effects.
• The study elaborates on the SWOT analysis and Porter’s Five Forces model.
• The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.

 Recent Development

• 2021: At the French airport of La Bourget, Volocopter GmbH, a German aircraft manufacturer, operated an electrical air taxi for the first time. This electric air taxi was 30 meters above the airport and traveled 500 meters at a speed of 30 kilometers per hour. Furthermore, it has a luggage compartment and has room for two passengers. The 2024 Olympic Games in Paris will use an air taxi as a means of transportation.
• 2021: Airbus announced its intention to switch all A320 neo aircraft’s mechanical rudder controls to fully electric ones by 2024. The long-range A321XLR, developed with the E-rudder concept in mind, will be introduced simultaneously as the upgrade.

Regional Landscape

Geographically, a high CAGR is anticipated in the European market for electric aircraft. One of the cutting-edge materials that the area has quickly adopted is gamma-titanium aluminides. This material improves mechanical properties while lowering noise levels, carbon emissions, and fuel consumption. The growth of the electric aircraft market across a number of geographical areas is being driven by numerous significant market competitors and their increasing investment in R&D projects. Regulations bodies like the European Union Aviation Safety Agency, which are actively attempting to lower emission levels, are promoting market expansion in the European region (EASA). People in this area also enjoy better economic conditions than others. They can therefore afford to take short commutes using electric aircraft.

In 2021, it is predicted that North America will continue to maintain the largest market share. In North America, the usage of electric aircraft for urban air transport is increasing, which is expected to drive market expansion there. Additionally, a lot of people who care about the environment utilize electric aeroplanes to travel short distances, increasing demand for the product.

Competitive Landscape

Few major businesses that operate on a worldwide and regional scale dominate the competitive landscape of the electric aircraft market. Key players are working on new products and forming alliances to diversify their product portfolios and establish a solid footing on the global market.

Prominent Players:

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

The global Electric Aircraft market is segmented as follows:

By Type

• Light Jet
• Ultra-light

By Component

• Aircraft Battery
• Electric Motors
• Others

By Technology

• All Electric
• Hybrid

By Range

• More than 500 Km
• Less than 500 Km

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America