Europe eVTOL Aircraft Market By Application, By Propulsion Type, By Lift Technology, By Operation Mode, By Range, By Country Competition, Forecast & Opportunities, 2018-2030F
Europe eVTOL Aircraft Market By Application (Commercial, Military and Cargo), By Propulsion Type (Hybrid Electric, Fully Electric, Electric Hydrogen), By Lift Technology (vectored Thrust, Lift Plus Cruise, Multicopter and others), By Operation Mode (Autonomous, Semi-Autonomous and Piloted), By Range (upto 200km, 201-500Km), By Country Competition, Forecast & Opportunities, 2018-2030F.
New York, Sept. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe eVTOL Aircraft Market By Application, By Propulsion Type, By Lift Technology, By Operation Mode, By Range, By Country Competition, Forecast & Opportunities, 2018-2030F" - https://www.reportlinker.com/p06488702/?utm_source=GNW
The European eVTOL Aircraft market is likely to expand at a vigorous rate in the upcoming years.The growing demand for green energy and noise-free aircraft, along with increasing use of eVTOL aircraft for freight applications and increasing desire for an alternative means of transportation, are factors driving the growth of this market.
Electrically powered urban air mobility vehicles, eVTOLs, emit zero-emissions, giving them a significant advantage over most of the current ground and air vehicles, which continue to run on fossil fuels.
Recent Developments
Volocopter GmbH, a German aircraft manufacturer and a pioneer in urban air mobility (UAM), have planned to offer the world’s first-ever eVTOL suite of services using passenger air taxis and heavy-lift freight drones between 2024 and 2026.In addition, in March 2022, Jetex and Volocopter inked a strategic collaboration agreement to create a safe and sustainable paradigm of urban air mobility.
The alliance was formed to deploy and operate permanent, economically viable, and integrated UAM taxi ’takeoff and landing infrastructure and passenger transportation services.
Wisk Aero received $450 million from The Boeing Company in January 2022 to continue develop Wisk’s sixth generation eVTOL aircraft. It also assists the company as it enters an aggressive expansion phase in preparation for the introduction of scale manufacturing.
The Rise of Electric-Propulsion-Based eVTOL Aircraft
The aviation industry is one of the fastest-growing sources of greenhouse gas emissions, contributing to Europe’s climate change.The development of eVTOL aircraft, powered by electric propulsion reduces the environmental impact in terms of noise and pollutant emissions.
As a result, government rules and policies aimed at decreasing emissions promote demand for eVTOL aircraft powered by electric propulsion.Across Europe, big players’ and startups’ of eVTOL aircraft parternerships are increasing.
For example, in May 2022, Volocopter, a German startup, announced a partnership with Jetex, an aircraft ground handling company, to install and operate permanent vertiport infrastructure for passenger services. The startup will begin its operations in 2024. eVTOL planes can fly for extended periods of time, making them a sustainable alternative.
Furthermore, Jetson AB, a Swedish eVTOL firm, completed the sale of the whole production of their eVTOL aircraft in 2022 and has an order of 100 units with delivery set to begin in 2023, along with over 3,000 pre-orders for additional deliveries.
Increasing Adoption of Air Taxis as Urban Air Mobility Increases
Due to recent technological advances in urban air mobility, several cities are projected to adopt a new generation of transportation using eVTOL aircraft.To escape traffic, eVTOL aircraft are best suited for shorter flights across busy cities.
The aircraft also aid in middle- and last-mile goods delivery, as well as medical services.As a result, the use of air taxis is increasing.
The urban air mobility sector is in its early stages, which is projected to promote air taxi usage in the coming years.Toyota invested $394 million in Joby Aviation eVTOL Aircraft in the first quarter of 2020.
Furthermore, in April 2022, Airbus and ITA Airways signed a Memorandum of Understanding to collaborate on urban air mobility (UAM) in Italy. The agreement also focuses on the safe and sustainable launch of City Airbus NextGen eVTOL aircraft. The first air taxi flight in Europe is scheduled for 2024.
Lack of infrastructure certification in Aviation
The commercialization of eVTOL travel options necessitates the creation of infrastructure such as skyports, charging stations, and others.The initial cost of such infrastructure is quite costly, and development takes time, which is expected to limit market growth.
Furthermore, demanding certifications of aviation agencies such as the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) for eVTOL designs are projected to stymie industry expansion.
Market Segmentation
The Europe eVTOL Aircraft Market is segmented by application, by propulsion type, by Lift Technology, by Operation Mode, by Range and by Region.Based on application, the market is segmented into Commercial, Military and Cargo.
Based on propulsion type, the market is segmented into Hybrid Electric, Fully Electric, and Electric Hydrogen.On the basis of lift technology, the market is divided into vectored Thrust, Lift Plus Cruise, Multicopter and others.
Based on operation mode, the market is segmented into Autonomous, Semi-Autonomous and Piloted. Based on range, the market is segmented into up-to 200km, and 201-500Km.
Company Profiles
Airbus Group, Inc., Bell Textron Inc., Boeing, Eve Air Mobility, Lilium GmBH, EHang Intelligent Technology Co. Ltd, BETA Technologies Inc., Volocopter GmbH, Archer Aviation Inc. and Heart Aerospace AB are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
*Report Scope:*
In this report, Europe eVTOL Aircraft Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Europe eVTOL Aircraft Market, By Application:
o Commercial
o Military
o Cargo
• Europe eVTOL Aircraft Market, By Propulsion Type:
o Hybrid Electric
o Fully Electric
o Electric Hydrogen
• Europe eVTOL Aircraft Market, By Lift Technology:
o vectored Thrust
o Lift Plus Cruise
o Multicopter
o others
• Europe eVTOL Aircraft Market, By Operation Mode:
o Autonomous
o Semi-Autonomous
o Piloted
• Europe eVTOL Aircraft Market, By Range:
o Upto 200km
o 201-500Km
• Europe eVTOL Aircraft Market, By Region:
Germany
Russia
France
Italy
Spain
United Kingdom
Switzerland
Netherlands
Belgium
Austria
*Competitive Landscape*
Company Profiles: Detailed analysis of the major companies present in Europe eVTOL Aircraft Market.
*Available Customizations:*
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
*Company Information*
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06488702/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001