Commercial Electric Aircraft Market Size, Share, By Type (Urban Air Mobility (UAM) Vehicles, Regional Electric Aircraft, Electric Vertical Takeoff and Landing (eVTOL) Aircraft), By Power (100 kW - 500 kW, 500 kW - 2 MW, and >2 MW), By Propulsion System (Battery Electric (BEV), Hybrid Electric (HEV), and Hydrogen Fuel Cell), By Application (Air Taxi, Cargo & Logistics, and Military & Defense) and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034

Commercial Electric Aircraft Market Size was valued at US$ 73.99 million in 2024 and is expected to grow at a CAGR of 20.5% to reach US$ 402.9 million by 2034

A Commercial electric aircraft is a type of aircraft that is powered by electric motors rather than by traditional fossil fuel-using jet engines. Electric airplanes use battery power to provide the energy needed for powered flight. Electric airplanes use battery power to drive electric motors that propel the aircraft. These electric motors are powered by rechargeable batteries, which are charged before each flight. The batteries can be charged using various methods, including solar power and grid electricity. Electric airplanes are typically electric hybrid aircraft that use electric motors and fossil fuel engines to generate power. The fossil fuel engines are used to generate electricity, which is then used to power the electric motors. This hybrid approach helps extend the airplane's range, making them more practical for commercial use.

Several key factors are driving the commercial electric aircraft market, including rising demand for sustainable and environmentally friendly transportation solutions, the need to reduce carbon emissions and noise pollution in cities, and an increased emphasis on developing efficient and cost-effective modes of transportation. In addition, the necessity for novel mobility solutions—like urban air mobility (UAM) vehicles and electric vertical takeoff and landing (eVTOL) aircraft—has arisen due to the world's largest cities' increasing urbanization and congestion. Moreover, electric aircraft are now more viable and able to satisfy various applications' range and performance requirements thanks to developments in battery technology, electric propulsion systems, and lightweight materials. However, numerous barriers prevent the commercial electric aircraft market from expanding and being widely used. These include the present battery technologies' constrained range and energy density, limiting the time and distance an electric aircraft may fly.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Key Drivers of Target Market:

Providing environmental sustainability:

• A major factor propelling the market for commercial electric aircraft is the aviation industry's increasing focus on environmental sustainability and lowering emissions. With aircraft engines burning fossil fuels and releasing carbon dioxide, nitrogen oxides, and other harmful pollutants into the atmosphere, the aviation industry contributes significantly to greenhouse gas emissions and air pollution.
• On the other hand, electric aircraft powered by batteries or hydrogen fuel cells have zero direct emissions during flight, significantly reducing their carbon footprint and improving air quality, especially in urban areas. This aligns with worldwide initiatives to mitigate climate change and achieve emission reduction goals established by conventions and laws.
• In addition, because electric aircraft don't have jet engines or propellers, they are far quieter than traditional aircraft. This decrease in noise pollution is especially advantageous for applications involving urban air mobility, where aircraft operations in densely populated areas may ordinarily cause severe disruption.

Advancement and cost reduction of battery:

• The widespread use of electric aircraft depends on developing high-energy-density batteries with longer cycle lives and enhanced safety features. The predominant option for electric aircraft has been lithium-ion batteries, but because of their restricted energy density and weight, obtaining the intended range and performance has proven difficult.
• However, new battery chemistries and technologies are emerging as a result of continuous research and development activities. These provide better thermal management, faster charging times, and higher energy densities. Solid-state batteries, lithium-sulfur batteries, and lithium-air batteries are a few of these innovations.
• Electric aircraft will be more practical for a broader range of purposes, such as cargo operations and regional air transportation, as battery energy densities rise and they can reach longer flying periods and ranges.

Restrains:

Limited battery power:

• Current battery technologies have poor energy density, limiting commercial electric aircraft's range. This is one of the main obstacles preventing their broad adoption. The electric motors of electric aircraft are powered by batteries or fuel cells, and the energy density of these power sources directly influences the range and endurance of the plane.
• Even with recent advances in battery technology, lithium-ion batteries—frequently utilized in electric aircraft—still have a far lower energy density than traditional aviation fuels like kerosene. This indicates that in comparison to conventional aircraft fueled by fossil fuels, electric aircraft now have a reduced range and flying duration.

Opportunities:

• Commercial electric aircraft could potentially open new routes and markets for airlines. They are also a good choice for regional and urban air travel since they are vibration-free and quieter. Electric aircraft require less fuel and maintenance, they may operate at lower operational costs, which leads to higher profitability for airlines.
• Moreover, the diminished carbon impact may be employed as an advertising strategy to attract eco-aware tourists. In addition to generating jobs, the research and production of electric aircraft and their parts boost the economies of the areas that invest in this technology. Additionally, it opens up new avenues for research in electric and battery propulsion technologies, which may find wider uses outside of aviation.

The market is segmented based on Type, Power, Propulsion System, Application and Region.

Type Insights:

• Urban Air Mobility (UAM) Vehicles: The electrically powered aircraft in this class are intended for short-distance urban transportation. By reducing traffic, creating new modes of transportation, and enabling efficient, on-demand point-to-point travel, these aircraft are expected to transform urban transportation completely.
• Regional Electric Aircraft: This category includes electric aircraft specially made for regional flights. These routes usually span small to medium lengths, from a few hundred to up to two thousand kilometers.
• Electric Vertical Takeoff: By offering silent, on-demand air taxi services inside cities, these electrically driven vehicles with the ability to take off and land vertically hope to revolutionize urban mobility. They can transform short-distance travel by avoiding traffic jams.
• Landing (eVTOL) Aircraft: eVTOLs are highlighted because they have the potential to disrupt urban traffic. Their special qualities and concentration on short-range urban flights set them apart from the rest of the electric aircraft industry.

Power Insights:

• 100 kW - 500 KW: Smaller electric aircraft with low power needs are best suited for this market. These aircraft are perfect for applications such as smaller UAM fixed-wing aircraft and short-range eVTOL vehicles or drones since they usually have shorter ranges.
• 500 kW - 2 MW: This market segment serves electric aircraft with medium-sized power needs. This might include regional electric commuter aircraft for shorter journeys and bigger eVTOL vehicles with a higher passenger or cargo capacity.
• >2 MW: This section emphasizes high-powered electric aircraft intended for longer regional flights or maybe even long-haul applications in the future. For this market, large battery capacities or other propulsion technologies, such as hybrid-electric systems, are essential.

Propulsion System Insights:

• Battery Electric (BEV): The most common airplane propulsion technology is battery electric (BEV), which runs entirely on batteries. Although BEV aircraft offer zero-emission operation, battery range is presently a constraint. Technological developments in batteries are essential to allowing longer-range electric plane.
• ·Hybrid Electric (HEV): Hybrid electric combines internal combustion or conventional jet engines with electric motors in the hybrid aircraft. Electric motors supply power for takeoff, landing, and low-altitude flying, while jet engines are usually utilized for cruise flights.
• Hydrogen Fuel Cell: An innovative technology, hydrogen fuel cells harness the chemical interaction between hydrogen and oxygen to produce energy, which powers electric motors. Because of its high energy density and silent operation, fuel cells are being investigated for powering spacecraft, unmanned aerial vehicles (UAVs), and other aerospace and military applications.

Application Insights:

• Air Taxi: This section emphasizes electric aircraft intended for on-demand passenger service in cities. eVTOL planes are the best options for this application.
• Cargo & Logistics: This section examines using electric aircraft to carry cargo, possibly providing greener options for short-haul freight transportation. Fixed-wing electric aircraft and eVTOL aircraft might be employed in this section.
• Military & Defense: This market is still very young and has few applications. Nonetheless, research is being done on the possible advantages of electric aircraft for military applications, such as cheaper operating costs or a smaller noise profile.

Regional Insights

• North America: Due to large aerospace businesses, technology breakthroughs, and government measures supporting sustainable aviation, North America is predicted to be a key market for commercial electric aircraft. The US and Canada are setting the standard when it comes to the advancement and uptake of electric aircraft technology, especially in the urban air mobility (UAM) market.
• Asia Pacific: Due to rising urbanization, traffic jams, and initiatives to cut carbon emissions, the commercial electric aircraft market is expanding significantly in this area. Electric aircraft development and deployment are aggressively pursued by nations including China, Japan, South Korea, and Singapore, especially in the urban air transportation and cargo/logistics markets.
• Europe: With several nations actively funding and promoting the growth of electric aviation, Europe is another significant participant in the commercial electric aircraft industry. Companies engaged in electric aircraft projects are based in nations including the Netherlands, Germany, France, and the United Kingdom.
• Latin America: Although it isn't a prominent participant in the commercial electric aircraft industry just yet, there is room for expansion in this region. Electric aircraft are being investigated for various uses in nations like Chile and Brazil, such as cargo/logistics and urban air mobility.
• Middle East and Africa: Regarding urban air transportation and cargo/logistics, the Middle East and Africa are starting to realize the potential of commercial electric aircraft. To address transportation issues and cut emissions, nations including South Africa, Saudi Arabia, and the United Arab Emirates are investigating the use of electric airplanes.

Commercial Electric Aircraft Market Report Scope:

Attribute	Details
Market Size 2024	US$ 73.99 million
Projected Market Size 2034	US$ 402.9 million
CAGR Growth Rate	20.5%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Million & CAGR from 2024 to 2034
Market Segmentation	By Type - Urban Air Mobility (UAM) Vehicles, Regional Electric Aircraft, Electric Vertical Takeoff and Landing (eVTOL) Aircraft. By Power - 100 kW - 500 kW, 500 kW - 2 MW, and >2 MW. By Propulsion System - Battery Electric (BEV), Hybrid Electric (HEV), and Hydrogen Fuel Cell. By Application - Air Taxi, Cargo & Logistics, and Military & Defense
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Type, Power, Propulsion System, Application and Region.

By Type:

• Urban Air Mobility (UAM) Vehicles
• Regional Electric Aircraft
• Electric Vertical Takeoff
• Landing (eVTOL) Aircraft

By Power:

• 100 kW - 500 Kw
• 500 kW - 2 MW
• >2 MW

By Propulsion System:

• Battery Electric (BEV)
• Hybrid Electric (HEV)
• Hydrogen Fuel Cell

By Application:

• Air Taxi
• Cargo & Logistics
• Military & Defense

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Commercial Electric Aircraft Market include Joby Aviation, Archer Aviation Inc., Heart Aerospace, Vertical Aerospace, Leonardo S.p.A., Lilium, Wisk Aero LLC, Eviation, Wright Electric Inc., Electric Aviation Group, magniX, SCYLAX GmbH, Thales, Embraer, and Supernal, LLC.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In September 2023, Heart Aerospace, a Swedish manufacturer of electric airplanes, and Honeywell, a world leader in aerospace technology, partnered to include Honeywell's next-generation flight control system in the upcoming ES-30 regional electric aircraft. The ES-30 is a regional electric aircraft that can accommodate 30 passengers in regular seats and is powered by battery-operated electric motors. With standard airline reserves, it will have a 200-kilometer electric range with no emissions, an extended 400-kilometer hybrid aircraft range with 30 passengers, and the ability to go up to 800-kilometers with 25 passengers.   
• In September 2023, Joby Aviation announced that it intends to invest up to $500 million in the new plant to begin manufacturing its first scaled electric aircraft. The company plans to start providing air taxi services as early as 2025. The new Joby facility at Dayton International Airport, which will span 140 acres, will be used to mass produce eVTOL (electric vertical take-off and landing) aircraft based on the company's current pilot production line in Marina, California. This growth is enormous. The company pulled its first aircraft from its manufacturing line earlier in 2023.

• Joby Aviation*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Archer Aviation Inc.
• Heart Aerospace
• Vertical Aerospace
• Leonardo S.p.A.
• Lilium
• Wisk Aero LLC
• Eviation
• Wright Electric Inc.
• Electric Aviation Group
• magniX
• SCYLAX GmbH
• Thales
• Embraer
• Supernal, LLC

“*” marked represents similar segmentation in other categories in the respective section.

1. Research Objective and Assumption
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Preview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Type
     • Market Snippet, By Power
     • Market Snippet, By Propulsion System
     • Market Snippet, By Application
     • Market Snippet, By Region
   • Opportunity Map Analysis
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
   • Market Trends
   • Product Launch
   • Merger and Acquisitions
   • Impact Analysis
   • PEST Analysis
   • Porter’s Analysis

Market Segmentation, Type, Forecast Period up to 10 Years, (US$ Mn)

• Overview
  • Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Urban Air Mobility (UAM) Vehicles
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Regional Electric Aircraft
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Segment Trends
• Electric Vertical Takeoff
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Segment Trends

• Landing (eVTOL) Aircraft
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Segment Trends

Market Segmentation, Power, Forecast Period up to 10 Years, (US$ Mn)

• Overview
  • Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• 100 kW - 500 kW
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• 500 kW - 2 MW
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• >2 MW
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Propulsion System, Forecast Period up to 10 Years, (US$ Mn)

• Overview
  • Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Battery Electric (BEV)
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Hybrid Electric (HEV)
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Hydrogen Fuel Cell
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Application, Forecast Period up to 10 Years, (US$ Mn)

• Overview
  • Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Air Taxi
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Cargo & Logistics
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Military & Defense
  • Overview
  • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Mn)

• Overview
  • Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (US$ Mn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Power, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Propulsion System, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
    • U.S
    • Canada
• Asia Pacific
  • Market Size and Forecast (US$ Mn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Power, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Propulsion System, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Europe
  • Market Size and Forecast (US$ Mn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Power, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Propulsion System, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
• Latin America
  • Market Size and Forecast (US$ Mn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Power, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Propulsion System, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East and Africa
  • Market Size and Forecast (US$ Mn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Power, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Propulsion System, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East and Africa

1. Competitive Landscape

• Heat Map Analysis
• Company Profiles
  • Joby Aviation
  • Archer Aviation Inc.
  • Heart Aerospace
  • Vertical Aerospace
  • Leonardo S.p.A.
  • Lilium
  • Wisk Aero LLC
  • Eviation
  • Wright Electric Inc.
  • Electric Aviation Group
  • magniX
  • SCYLAX GmbH
  • Thales
  • Embraer
  • Supernal, LLC

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