Precision Business Insights has published a report on the global eVTOL aircraft market, estimating its value at USD 4.8 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/evtol-aircraft-market

Market Definition:

A type of VTOL (vertical take-off and landing) aircraft that hovers, takes off, and lands vertically using electric power is known as an electric vertical take-off and landing (eVTOL) aircraft. Significant advancements in electric propulsion (motors, batteries, fuel cells, and electronic controllers) and the growing demand for new aerial vehicles for Advanced Air Mobility and Urban Air Mobility which can facilitate quieter and more environmentally friendly flights led to the development of this technology. Additionally, electric and hybrid propulsion systems (EHPS) may reduce airplane operating expenses.

Drivers:

1)      Increasing environmentally mode of transportation

2)      Increasing demand for efficient air traffic management

The global Evtol aircraft market segmentation:
1) By Lift Technology: Vectored Thrust, Multirotor, Lift plus Cruise
2) By Propulsion Type: Fully Electric, Hybrid Electric, Hydrogen Electric
3) By System: Batteries & Cells, Electric Motor/Engine, Aerostructures, Avionics, Software, Others
4) By Application: Air Taxis, Air Shuttles & Air Metro, Private Transport, Cargo Transport, Air Ambulance & Medical Emergency, Last Mile Delivery, Inspection & Monitoring, Surveying & Mapping, Surveillance, Special Mission, Others.
5) By Mode of Operation: Autonomous, Piloted.

Based on its lift technology the capacity of an airplane, rocket, or other vehicle to control the direction of push from its engine or motors in order to regulate the vehicle's attitude or angular velocity is called thrust vectoring or thrust vector control (TVC).

Regional Overview:
The report also examines the current concerns and their Future Effects on the Evtol aircraft market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the Evtol aircraft market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

·         North America (U.S., Canada)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

·         Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)

·         Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The key players profiled in the global Evtol aircraft market report EHANG, Volocopter GmbH, Uber Technologies Inc., Aurora Flight Sciences, A³ by Airbus, Bell Textron Inc., Workhorse, Lilium GmbH, TERRAFUGIA, OXIS Energy Ltd, Karem Aircraft, Inc., MGM COMPRO, Kitty Hawk

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