The eVTOL market could be worth $162 million by 2025 and $411 million by 2030.
The eVTOL (electric-powered vertical take-off and landing) aircraft market is estimated to be worth $162 million by 2025 and $411 million by 2030 – representing a compound annual growth rate (CAGR) of 20.42% during the forecast period.
This is according to new analysis from ResearchAndMarkets.
The demand for enhanced efficiency and growing investment are expected to drive the market. However, the “limited reliability of eVTOLs” and “the inability to predict the external environment” are also expected to hinder growth.
Enabled by technology advances, eVTOL aircraft aim to improve mobility in traffic-congested cities – particularly as urbanisation intensifies. The United Nations predicts that the global population will reach 8.5 billion by 2030, with 68% of people living in urban areas.
eVTOL aircraft are also expected to produce fewer harmful emissions than cars, contributing to cities’ drive to reduce climate change.
Read our recent deep-dive on the progress of the urban air mobility market.