Electric Airplane Market Size, Share, By Type (Fixed Wing, Rotary Wing, and Hybrid Wing), By Technology (CTOL, STOL, and VTOL), By Component (Batteries, Electric Motors, Aerostructures, Avionics, and Others), By Application (Civil, Military & Defense, and Others) and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034

Electric Airplane Market Size was valued at US$ 12.0 billion in 2024 and is expected to grow at a CAGR of 21.1% to reach US$ 58.3 billion by 2034

Electric motors power Electric Airplanes, and this power is provided by a range of sources such as batteries, solar cells, fuel cells, power beaming, and ground power lines. As a result, the market for powered electric aircraft has grown. Additionally, reducing toxic emissions, noise, and air pollution is another area in which electric aircraft hold great potential. Electric motors also require less upkeep and operation than other motors. Electric aircraft are more tempting than fuel-powered aircraft because of these potential benefits. Environmentally friendly is another opinion on this airplane.

Greenhouse gas emissions, including carbon emissions, concern governments in wealthy and developing nations. During the forecast period, this factor is expected to boost the growth and development of the worldwide electric aircraft market. To reach the range of distances covered by fossil fuels, however, a major obstacle must be addressed by using electric batteries that weigh thirty times more than their current fuel input. The shift to entirely electric air travel is aided by the emergence of the more electric aircraft market (MEA) and significant technological advancements in this field, guaranteeing the future of electric flying.

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

Key Drivers of Target Market:

Technological advancements:

• Globally, rapid technology advancements are mainly responsible for expanding the more electric aircraft industry. Moreover, the advancement of electrification to make airplanes more ecologically friendly and efficient is linked to the growth of aeronautical engineering. There will be more electric airplanes in the future thanks to advancements in power management, batteries, and electric propulsion technologies.
• Furthermore, electric propulsion offers other sustainability benefits, including decreased fuel consumption, pollutants, and noise levels. These developments also open the door to the development of more adaptable and versatile aircraft platforms that can satisfy a wide range of global consumer demands, increasing the market value of more electric aircraft.

Demand for quiet, hygienic aircraft:

• The growing need for quiet, clean aircraft is primarily driving the market for electric aircraft. The Air Transport Action Group estimates that in 2020, worldwide aviation produced about 915 million tons of CO2.
• ATG. Roughly 2% of all CO2 emissions produced by humans come from the global aviation sector. As the world's aircraft fleet and air travel expand, these projections will probably rise sharply. Since aircraft-generated emissions are expected to triple in volume by 2050, organizations and regulatory bodies like the Federal Aviation Administration, the European Union Aviation Safety Agency, and the International Civil Aviation Organization have called for sustainable alternatives to aircraft fuel. These elements will fuel the expansion of the market.

Restrains:

Lack of resources:

• Due to a lack of resources, original equipment manufacturers (OEMs) cannot build high-density batteries. Electric airplanes lack high-density batteries, which might be helpful for lengthy journeys. However, in the long term, this kind of battery should become accessible because of technical improvements. Therefore, over the projected period, the worldwide electric aircraft market's expansion is being constrained by the absence of inventions related to high-density batteries.

Opportunities:

Emergence of 3D Printing technology:

• The emergence of 3D printing technology has enabled designers to create unique design arrangements that were previously impractical. Printing the entire airplane or only portions of it with minimal material loss is possible. This will sustain market expansion in the years to come.
• For example, depending on the configurations, carbon fiber reinforced polymer, which is extremely lightweight, flexible, and delivers the mechanical strength of metal, allows the design to depart significantly from present norms. Because the present generation of batteries weighs close to 65% of the entire weight of the aircraft, designers will be able to reduce the overall weight of the plane and make it economically feasible by using lightweight materials. hence boosting the income of the electric aircraft market.

The market is segmented based on Type, Technology, Component, Application and Region.

Type Insights:

• Fixed Wing: The most prevalent kind of aircraft, having fixed wings that produce lift when flying forward. Propellers are powered by electric motors in electric versions. Although they may not be fully defined, sub-segments may contain variants according to use (cargo, passenger transport) or range (short-, medium-, and long-haul).
• Rotary Wing: These aircraft use revolving blades to provide lift and maneuver. This group includes aircraft capable of vertical takeoff and landing, or electric vertical takeoff and landing, or eVTOL.
• Hybrid Wing: This novel design idea blends rotary and fixed-wing components to get the benefits of both. Like a conventional airplane, it has fixed wings for effective forward flight and rotary-wing technology for vertical takeoff and landing (VTOL) capabilities.

Technology Insights:

• CTOL: Conventional Takeoff and Landing Electric aircraft, like conventional aircraft, need a runway for both takeoff and landing. They are probably appropriate for use in freight flights or local passenger transportation.
• STOL: Short Takeoff and Landing: Unlike CTOL aircraft, STOL aircraft use shorter runways for takeoff and landing. Operating out of smaller airports nearer to cities might benefit from this.
• VTOL: Vertical Takeoff and Landing (VTOL) aircraft eliminate the need for runways by enabling electric aircraft to take off and land vertically. This functionality is essential for eVTOL aircraft intended for urban air mobility applications, such as air taxis or package delivery drones.

Component Insights:

• Batteries: Batteries are an essential part of electric aircraft, used to power the motors. Sub-segments may be created according to capacity (low, medium, high) or battery chemistry (solid-state, lithium-ion). Significant advancements in battery technology can only increase the range and cargo capacity of electric aircraft.
• Electric Motors: These drive the propellers by converting electrical energy from the batteries into mechanical rotation. Sub-segments may include power output (low, medium, high) or motor type (permanent magnet, induction).

• Aerostructures: The electric airplane's wings, fuselage, and empennage make up its airframe. Sub-segments may be distinguished by material (aluminum, composite materials) or design elements best suited for electric propulsion.
• Avionics: This section may include various other parts necessary for an electric aircraft's functioning, such as landing gear, power electronics (which control the flow of electricity), or battery thermal management systems.
• Others: This section may include several other parts necessary for the operation of an electric aircraft, such as landing gear, power electronics (which control the flow of electricity), or battery thermal management systems.

Application Insights:

• Civil: Electric aircraft intended for passenger transportation on short-haul regional routes; medium-haul routes may be added in the future. For regional travel, these aircraft provide more ecologically responsible choices.
• Military & Defense: This section examines the possible uses of electric aircraft in the military. Military drones might be equipped with electric technology for reconnaissance and surveillance.
• Others: This might refer to uses like aerial photography, medical transports, or search and rescue missions that go beyond conventional commercial or military use.

Regional Insights

• North America: Due to large aerospace businesses, technical breakthroughs, and government backing for environmentally friendly flying options, North America is predicted to be a big market for electric airplanes. The United States and Canada are leading the way in developing and using electric aircraft technology.
• Asia Pacific: Due to rising urbanization, traffic jams, and initiatives to cut carbon emissions, the electric aircraft industry is expanding significantly in this area. Nations actively exploring the development and implementation of electric aircraft technology include China, Japan, South Korea, and Singapore.
• Europe: With many nations actively funding and promoting the advancement of electric aviation technology, Europe is another significant participant in the electric airplane industry. Companies developing electric aircraft projects are based in nations including the Netherlands, Germany, France, and the United Kingdom.
• Latin America: This region has room to expand even if it isn't a prominent participant in the electric airplane industry. 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: These two continents are starting to realize the potential of electric aircraft, especially in the urban air transportation and cargo/logistics sectors. 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.

Electric Airplane Market Report Scope:

Attribute	Details
Market Size 2024	US$ 12.0 billion
Projected Market Size 2034	US$ 58.3 billion
CAGR Growth Rate	21.1%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Type - Fixed Wing, Rotary Wing, and Hybrid Wing. By Technology - CTOL, STOL, and VTOL. By Component- Batteries, Electric Motors, Aerostructures, Avionics, and Others. By Application - Civil, Military & Defense, and Others
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, the target market report was segmented based on Type, Technology, Component, Application, and Region.

Segmentation:

By Type:

• Fixed Wing
• Rotary Wing
• Hybrid Wing

By Technology:

• CTOL
• STOL
• VTOL

By Component:

• Batteries
• Electric Motors
• Aerostructures
• Avionics
• Others

By Application:

• Civil
• Military & Defense
• Others

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 Electric Airplane Market include Airbus, Rolls-Royce Holdings Plc, Pipistrel Group, Groupe Gorge, Bombardier Inc., Aerospace Limited, Honeywell International Inc., Digisky S.R.L., Bye Aerospace, Raytheon Technologies Corporation, Leonardo S.p.A., Lockheed Martin Corporation, Faradair Aerospace Limited, Yuneec Holding Limited, and Boeing.

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

• In December 2023, The EcoPulse, a new hybrid-electric aircraft from Airbus, completed its first hybrid-electric flight test, marking a significant advancement in the aviation industry's decarbonization. The two power sources integrated into the propulsion system are an 800 V battery pack with a 350 kW capacity and a gas turbine-powered electric generator, called a turbogenerator, supplied by Safran. A Power Distribution and Rectifier Unit (PDRU) distributes and protects the high-voltage network.
• In September 2022, Air Canada (AC.TO) disclosed that it will purchase 30 battery-powered regional aircraft from Heart Aerospace, marking its first purchase of electric aviation. This move comes as more airlines embrace new technology to reduce pollution and fuel expenses. With a maximum capacity of thirty people and zero emissions in 2028, Heart's electric-hybrid aircraft, located in Sweden, is currently under development.

• Airbus*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Rolls-Royce Holdings Plc
• Pipistrel Group
• Groupe Gorge
• Bombardier Inc.
• Aerospace Limited
• Honeywell International Inc.
• Digisky S.R.L.
• Bye Aerospace
• Raytheon Technologies Corporation
• Leonardo S.p.A.
• Lockheed Martin Corporation
• Faradair Aerospace Limited
• Yuneec Holding Limited
• Boeing

“*” 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 Technology
     • Market Snippet, By Component
     • 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$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Fixed Wing
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Rotary Wing
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Segment Trends
• Hybrid Wing
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Segment Trends

Market Segmentation, Technology, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• CTOL
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• STOL
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• VTOL
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Component, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Batteries
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Electric Motors
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Aerostructures
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

• Avionics
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

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

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Civil
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Military & Defense
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Region, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), 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$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • U.S
    • Canada
• Asia Pacific
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Europe
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
• Latin America
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East and Africa
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Technology, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Component, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East and Africa

Competitive Landscape

• Heat Map Analysis
• Company Profiles
  • Airbus
  • Rolls-Royce Holdings Plc
  • Pipistrel Group
  • Groupe Gorge
  • Bombardier Inc.
  • Aerospace Limited
  • Honeywell International Inc.
  • Digisky S.R.L.
  • Bye Aerospace
  • Raytheon Technologies Corporation
  • Leonardo S.p.A.
  • Lockheed Martin Corporation
  • Faradair Aerospace Limited
  • Yuneec Holding Limited
  • Boeing

The Last Word

• Future Impact
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