eVTOL Market is Forecasted to Reach US$3.2 Billion in 2040, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global eVTOL market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics

Market Size in 2024: US$0.06 billion

Market Size in 2040: US$3.2 billion

Growth (CAGR): 28.4% during 2025-2040

Leading Configuration Type: Wingless/Multirotor

Leading Application Type: Passenger

Leading Seating Capacity Type: 2-seater and 5-seater

Leading Region: North America and China

Forecast Period: 2025-2040

Trend Period: 2019-2023

Base Year: 2024

Number of Segments Covered: 4

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the eVTOL Market:

The global eVTOL market is segmented based on Configuration type, Application type, Seating Capacity type, and Region.

Based on Configuration Type –

With EHang deliveries, Multirotor dominated the market during the trend period. It is well suited for short-range operations in cities where they can bypass traffic jams. However, it is expected to lose some share to longer-range Vectored and Lift + Cruise eVTOLs in the future. In 2023, Joby Aviation made its highly anticipated first delivery of the vectored eVTOL, S4, to the US Air Force. In 2024, Autoflight's Prosperity, a Lift + Cruise eVTOL, marked its first delivery.

Based on the Application Type –

The market began with passenger applications dominating and is expected to maintain this dominance throughout the study period. Once all cargo eVTOL programs are introduced, the segment is expected to quickly gain momentum and record significant growth during the forecast period. Other applications include emergency medical services and firefighting applications. The segment, compared to the other two, is expected to expand slowly.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

North America and China lead the market with the largest eVTOL orders. The US and China are the frontrunners regarding eVTOL orders. China is set to dominate the eVTOL units' market, with companies planning to expand beyond its borders to develop Asia's "low-altitude economy." This government-backed initiative has led to the emergence of over 30 eVTOL-related startups in the past year. The value market is expected to be dominated by North America, owing to deliveries from leading eVTOL manufacturers in the US, such as Joby, Archer, and Beta, as they fulfill their large order books.

Presently, Europe is slightly behind in overall eVTOL development. However, it is poised to experience the highest growth in the long run. In the rest of the world, Brazil and the UAE have placed a high number of eVTOL orders.

eVTOL Market Drivers:

Some of the key drivers listed in the report are given below.

-         The rising urban population and traffic congestion.

-         The government's push for sustainable transportation to minimize carbon footprint, expected EIS (Entry-Into-Service), and pre-orders of upcoming eVTOL programs.

Top Companies in the eVTOL Market:

The global market for EVTOL is highly concentrated, with the top four companies capturing a lion’s share. Apart from technological expertise and financial capabilities, the growth of companies is directly dependent on government support and overall industry conditions. Stratview Research has identified the following companies as the top market players:

-         EHang

-         Joby Aviation, Inc.

-         Archer Aviation

-         Autoflight

-         Eve Air Mobility

-         Xpeng AeroHT

-         Vertical Aerospace Ltd.

-         Elroy Air

-         Lilium GmbH

-         Volant Aerotec

Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the eVTOL market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.

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