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

Commercial electric aircraft are powered by electric motors rather than typical fossil fuel-driven jet engines. Battery power is used by electric aircraft to supply the energy required for powered flight—batteries power electric motors in electric aircraft to move the craft forward. Rechargeable batteries used to power these electric motors must be charged before every flight. There are several ways to charge the batteries, including grid electricity and solar power. Most electric aircraft are hybrid aircraft, meaning their power comes from fossil fuel engines and electric motors. The electric motors are powered by the electricity produced by the fossil fuel engines. Using a hybrid approach increases the airplane's range, increasing its suitability for commercial usage.

The market for commercial electric aircraft is being driven by several important factors, such as the growing need for eco-friendly and sustainable transportation options, the requirement to lessen urban noise pollution and carbon emissions, and the growing focus on creating economical and efficient transportation options. Furthermore, the growing urbanization and congestion of the world's greatest cities have made innovative mobility options necessary, such as electric vertical takeoff and landing (eVTOL) planes and urban air mobility (UAM) vehicles. In addition, advancements in battery science, electric propulsion technologies, and lightweight materials have made electric aircraft increasingly feasible and capable of meeting the performance and range requirements of various applications. However, there are a lot of obstacles to the commercial electric aircraft business growing and becoming extensively utilized. These include limited energy density and range of current battery technology, which restrict how long and far an electric aircraft can fly.