North America eVTOL Aircraft Market to Reach US$674.41 Million by 2028

Strategic Insights -

The North America eVTOL aircraft market is expected to grow significantly due to the increasing demand for electric propulsion-based eVTOL aircraft, driven by government regulations and policies for reducing emissions. Key players and startups are launching operations, and investments are growing, with eVTOL aircraft becoming a sustainable mode of transportation. The market is expected to grow at a CAGR of 38.2% from 2024 to 2028.

Key Takeaways:

  • The North America eVTOL aircraft market is expected to grow from US$ 184.82 million in 2024 to US$ 674.41 million by 2028.
  • The development of electric propulsion-based eVTOL aircraft helps mitigate the environmental impact in terms of noise and pollutant emissions.
  • Government regulations and policies for reducing emissions drive the demand for electric propulsion-based eVTOL aircraft.
  • Initiatives from key players and startups are increasing across the North America, with the startup expected to launch operations in 2024.
  • The investments from key players are growing, with the ePlane Company raising US$ 5 million in a Pre-Series A funding round in January 2022.
  • Electric propulsion-based eVTOL can move into intra-city and inter-city aviation, with eVTOL aircraft flying for longer ranges and at higher speeds.
  • The North America eVTOL aircraft market is expected to be dominated by the lift plus cruise segment in 2024.
  • The fully electric segment is expected to dominate the North America eVTOL aircraft market in 2024.
  • The air taxi segment is expected to dominate the North America eVTOL aircraft market in 2024.
  • The US is expected to dominate the North America eVTOL aircraft market in 2024.

Statistics:

  • The North America eVTOL aircraft market size is expected to grow at a CAGR of 38.2% from 2024 to 2028.
  • The market size is expected to reach US$ 674.41 million by 2028.
  • The market size is expected to reach US$ 184.82 million in 2024.
  • The ePlane Company raised US$ 5 million in a Pre-Series A funding round in January 2022.
  • The investments from key players are growing, with an expected launch of operations by 2024.

Sources:

  • "North America EVTOL Aircraft Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Lift Technology, Propulsion Type, Application, and Operation Mode"
  • EPA (Environmental Protection Agency)
  • EPA's Greenhouse Gas (GHG) Emissions Standard for Aircraft
  • ePlane Company's Pre-Series A funding round in January 2022
  • ResearchAndMarkets.com
  • BusinessWire.com