Product Code: PM4380
The global electric aircraft market size is expected to reach USD 53.56 billion by 2032, according to a new study by Polaris Market Research. The report "Electric Aircraft Market Share, Size, Trends, Industry Analysis Report, By Type (Rotary Wing, Fixed Wing, Hybrid Wing); By Component; By Technology; By End Use; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Electric aircraft offer several advantages, revolutionizing aviation with their sustainable and innovative features. They significantly reduce environmental impact by producing fewer or zero carbon emissions during operation, addressing concerns about climate change. The quieter electric propulsion systems contribute to noise reduction, making them suitable for urban areas and minimizing noise pollution. Lower operational costs due to reduced reliance on traditional aviation fuels make electric aircraft economically appealing. Additionally, their potential for distributed propulsion systems and innovative designs enhances overall efficiency and performance.
Ongoing research and development have focused on enhancing the efficiency and performance of electric motors and power electronics in electric aircraft. Variable pitch propellers and advanced control algorithms are being implemented to optimize power usage during different flight phases. Battery management systems have seen improvements, ensuring optimal performance and safety over the lifecycle of the batteries.
Some projects are exploring hybrid architectures, combining internal combustion engines with electric propulsion. This allows for extended range and increased flexibility in various mission profiles. These hybrid systems often involve innovative power-sharing mechanisms between conventional and electric propulsion components. Electric aircraft are integrated with advanced avionics and autonomous systems for greater safety and operational efficiency. Adoption of artificial intelligence and machine learning to enable autonomous navigation, obstacle avoidance, and decision-making capabilities.
Governments worldwide are driving the growth of the electric aircraft market through various incentives. Research and development grants support the innovation of electric propulsion, energy storage, and avionics. Tax credits and rebates alleviate financial burdens for manufacturers and operators investing in electric aviation. Funding for charging infrastructure development facilitates the widespread adoption of electric aircraft, while streamlined regulatory processes ease certification and operation. Demonstration programs showcase capabilities and validate technologies with government support. Purchase incentives, including subsidies and reduced taxes, stimulate demand for electric aircraft.
Electric Aircraft Market Report Highlights
The rotary wing segment accounted for a significant share of the market due to an increase in demand from emergency response, search and rescue missions, surveillance activities, and military operations.
The batteries segment accounted for a significant market revenue share due to the requirement for higher energy density and greater performance.
The vertical takeoff and landing segment accounted for the largest market share due to greater applications in medical evacuation and cargo transport.
The commercial segment accounted for the largest market share in 2023 due to the focus on the reduction of carbon emissions and the decrease in levels of noise pollution.
In 2023, North America accounted for the largest revenue share due to a rise in demand for sustainable aviation and urban air mobility.
The market is highly competitive owing to the existence of market players with a global presence, including AeroVironment, Inc., Airbus, Boeing, Joby Aviation, Lilium, Pipistrel, Volocopter, and Elbit Systems Ltd.
Polaris Market Research has segmented the electric aircraft market report based on type, component, technology, end use, and region:
Electric Aircraft, Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Rotary Wing
- Fixed Wing
- Hybrid Wing
Electric Aircraft, Component Outlook (Revenue - USD Billion, 2019 - 2032)
- Aerostructures
- Avionics
- Batteries
- Motors
- Others
Electric Aircraft, Technology Outlook (Revenue - USD Billion, 2019 - 2032)
- Conventional Takeoff and Landing (CTOL)
- Vertical Takeoff and Landing (VTOL)
- Short Takeoff and Landing (STOL)
Electric Aircraft, End Use Outlook (Revenue - USD Billion, 2019 - 2032)
Electric Aircraft, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Netherlands
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- Malaysia
- Indonesia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Electric Aircraft Market Insights
- 4.1. Electric Aircraft - Industry Snapshot
- 4.2. Electric Aircraft Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Environmental Concerns
- 4.2.1.2. Rise in Urban Air Mobility Concepts
- 4.2.2. Restraints and Challenges
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Electric Aircraft Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Electric Aircraft Market, by Component
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 5.3. Aerostructures
- 5.3.1. Global Electric Aircraft Market, by Aerostructures, by Region, 2019-2032 (USD Billion)
- 5.4. Avionics
- 5.4.1. Global Electric Aircraft Market, by Avionics, by Region, 2019-2032 (USD Billion)
- 5.5. Batteries
- 5.5.1. Global Electric Aircraft Market, by Batteries, by Region, 2019-2032 (USD Billion)
- 5.6. Motors
- 5.6.1. Global Electric Aircraft Market, by Motors, by Region, 2019-2032 (USD Billion)
- 5.7. Others
- 5.7.1. Global Electric Aircraft Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Electric Aircraft Market, by Technology
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 6.3. Conventional Takeoff and Landing (CTOL)
- 6.3.1. Global Electric Aircraft Market, by Conventional Takeoff and Landing (CTOL), by Region, 2019-2032 (USD Billion)
- 6.4. Vertical Takeoff and Landing (VTOL)
- 6.4.1. Global Electric Aircraft Market, by Vertical Takeoff and Landing (VTOL), by Region, 2019-2032 (USD Billion)
- 6.5. Short Takeoff and Landing (STOL)
- 6.5.1. Global Electric Aircraft Market, by Short Takeoff and Landing (STOL), by Region, 2019-2032 (USD Billion)
7. Global Electric Aircraft Market, by End-use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 7.3. Military
- 7.3.1. Global Electric Aircraft Market, by Military, by Region, 2019-2032 (USD Billion)
- 7.4. Commercial
- 7.4.1. Global Electric Aircraft Market, by Commercial, by Region, 2019-2032 (USD Billion)
8. Global Electric Aircraft Market, by Type
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 8.3. Rotary Wing
- 8.3.1. Global Electric Aircraft Market, by Rotary Wing, by Region, 2019-2032 (USD Billion)
- 8.4. Fixed Wing
- 8.4.1. Global Electric Aircraft Market, by Fixed Wing, by Region, 2019-2032 (USD Billion)
- 8.5. Hybrid Wing
- 8.5.1. Global Electric Aircraft Market, by Hybrid Wing, by Region, 2019-2032 (USD Billion)
9. Global Electric Aircraft Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Electric Aircraft Market Assessment, By Geography, 2019-2032 (USD Billion)
- 9.3. Electric Aircraft Market - North America
- 9.3.1. North America: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.3.2. North America: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.3.3. North America: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.3.4. North America: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.3.5. Electric Aircraft Market - U.S.
- 9.3.5.1. U.S.: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.3.5.2. U.S.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.3.5.3. U.S.: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.3.5.4. U.S.: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.3.6. Electric Aircraft Market - Canada
- 9.3.6.1. Canada: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.3.6.2. Canada: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.3.6.3. Canada: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.3.6.4. Canada: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4. Electric Aircraft Market - Europe
- 9.4.1. Europe: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.2. Europe: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.3. Europe: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.4. Europe: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4.5. Electric Aircraft Market - UK
- 9.4.5.1. UK: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.5.2. UK: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.5.3. UK: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.5.4. UK: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4.6. Electric Aircraft Market - France
- 9.4.6.1. France: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.6.2. France: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.6.3. France: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.6.4. France: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4.7. Electric Aircraft Market - Germany
- 9.4.7.1. Germany: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.7.2. Germany: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.7.3. Germany: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.7.4. Germany: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4.8. Electric Aircraft Market - Italy
- 9.4.8.1. Italy: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.8.2. Italy: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.8.3. Italy: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.8.4. Italy: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4.9. Electric Aircraft Market - Spain
- 9.4.9.1. Spain: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.9.2. Spain: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.9.3. Spain: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.9.4. Spain: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4.10. Electric Aircraft Market - Netherlands
- 9.4.10.1. Netherlands: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.10.2. Netherlands: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.10.3. Netherlands: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.10.4. Netherlands: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.4.11. Electric Aircraft Market - Russia
- 9.4.11.1. Russia: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.4.11.2. Russia.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.4.11.3. Russia: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.4.11.4. Russia: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.5. Electric Aircraft Market - Asia Pacific
- 9.5.1. Asia Pacific: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.5.2. Asia Pacific: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.5.3. Asia Pacific: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.5.4. Asia Pacific: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.5.5. Electric Aircraft Market - China
- 9.5.5.1. China: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.5.5.2. China.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.5.5.3. China: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.5.5.4. China: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.5.6. Electric Aircraft Market - India
- 9.5.6.1. India: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.5.6.2. India.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.5.6.3. India: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.5.6.4. India: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.5.7. Electric Aircraft Market - Japan
- 9.5.7.1. Japan: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.5.7.2. Japan.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.5.7.3. Japan: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.5.7.4. Japan: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.5.8. Electric Aircraft Market - Malaysia
- 9.5.8.1. Malaysia: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.5.8.2. Malaysia.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.5.8.3. Malaysia: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.5.8.4. Malaysia: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.5.9. Electric Aircraft Market - Indonesia
- 9.5.9.1. Indonesia: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.5.9.2. Indonesia.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.5.9.3. Indonesia: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.5.9.4. Indonesia: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.5.10. Electric Aircraft Market - South Korea
- 9.5.10.1. South Korea: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.5.10.2. South Korea.: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.5.10.3. South Korea: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.5.10.4. South Korea: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.6. Electric Aircraft Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.6.2. Middle East & Africa: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.6.3. Middle East & Africa: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.6.4. Middle East & Africa: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.6.5. Electric Aircraft Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.6.5.2. Saudi Arabia: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.6.5.3. Saudi Arabia: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.6.5.4. Saudi Arabia: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.6.6. Electric Aircraft Market - South Africa
- 9.6.6.1. South Africa: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.6.6.2. South Africa: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.6.6.3. South Africa: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.6.6.4. South Africa: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.6.7. Electric Aircraft Market - Israel
- 9.6.7.1. Israel: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.6.7.2. Israel: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.6.7.3. Israel: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.6.7.4. Israel: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.6.8. Electric Aircraft Market - UAE
- 9.6.8.1. UAE: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.6.8.2. UAE: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.6.8.3. UAE: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.6.8.4. UAE: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.7. Electric Aircraft Market - Latin America
- 9.7.1. Latin America: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.7.2. Latin America: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.7.3. Latin America: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.7.4. Latin America: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.7.5. Electric Aircraft Market - Mexico
- 9.7.5.1. Mexico: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.7.5.2. Mexico: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.7.5.3. Mexico: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.7.5.4. Mexico: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.7.6. Electric Aircraft Market - Brazil
- 9.7.6.1. Brazil: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.7.6.2. Brazil: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.7.6.3. Brazil: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.7.6.4. Brazil: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
- 9.7.7. Electric Aircraft Market - Argentina
- 9.7.7.1. Argentina: Electric Aircraft Market, by Component, 2019-2032 (USD Billion)
- 9.7.7.2. Argentina: Electric Aircraft Market, by Type, 2019-2032 (USD Billion)
- 9.7.7.3. Argentina: Electric Aircraft Market, by Technology, 2019-2032 (USD Billion)
- 9.7.7.4. Argentina: Electric Aircraft Market, by End-use, 2019-2032 (USD Billion)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. AeroVironment, Inc
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. Airbus
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. Boeing
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. Ehang
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. Elbit Systems Ltd
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. Eviation Aircraft
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Heart Aerospace
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. Joby Aviation
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Lilium
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. MagniX
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
- 11.11. Pipistrel
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development
- 11.12. Vertical Aerospace
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.12.4. Recent Development
- 11.13. Volocopter
- 11.13.1. Company Overview
- 11.13.2. Financial Performance
- 11.13.3. Product Benchmarking
- 11.13.4. Recent Development
- 11.14. Wisk Aero
- 11.14.1. Company Overview
- 11.14.2. Financial Performance
- 11.14.3. Product Benchmarking
- 11.14.4. Recent Development
- 11.15. XTI Aircraft Company
- 11.15.1. Company Overview
- 11.15.2. Financial Performance
- 11.15.3. Product Benchmarking
- 11.15.4. Recent Development