EVTOL Market – Analysis by Size, Share, Growth & Forecast 2030 | UnivDatos

 

The Electric Vertical Takeoff and Landing (eVTOL) market are projected to reach USD 3.52 billion by 2030, demonstrating a robust Compound Annual Growth Rate (CAGR) of 41.73% during the forecast period from 2023 to 2030. Key drivers for market growth include the increasing demand for sustainable and eco-friendly solutions, heightened awareness of the importance of e-waste management, and the rapid expansion of the electronics industry. Global governments have enacted regulations to manage e-waste effectively, such as the European Union's Waste Electrical and Electronic Equipment (WEEE) directive and China's "Extended Producer Responsibility" (EPR) policy. These regulations contribute to the expansion of the e-waste recycling market.

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The growing environmental consciousness among consumers has led to increased demand for sustainable disposal solutions. A report by GreenPrint in August 2022 revealed that 66% of US consumers and 80% of young adults (ages 18-34) are willing to pay more for sustainable products. This trend is propelling the rise of e-waste recycling services.

Major players in the eVTOL market, including Joby Aviation, Lilium, Airbus S.A.S, Volocopter GmbH, BETA Technologies, Urban Aeronautics, Elbit System Ltd., Bell Textron Inc., Ehang, and Embraer SA, have engaged in mergers and partnerships to deliver cutting-edge products and technologies.

Insights from the report highlight that the 2-4 seater aircraft segment dominated the market in 2022 and is expected to maintain this trend. Two-seater eVTOLs are cost-effective to develop and manufacture, making them more accessible to individual consumers. In propulsion types, the electric segment generated the highest revenue in 2022, driven by the efficiency of electric propulsion systems in converting energy into motion, resulting in increased range and faster speeds.

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North America led the eVTOL market in 2022 and is projected to continue its dominance. Factors contributing to this include a growing interest in sustainable transportation, increased urbanization, advancements in battery technology, government support, increased investment, and the use of eVTOLs for package delivery. Collaborations and partnerships, such as Joby and Toyota's expanded partnership, further fuel the growth of the eVTOL industry in North America. The US government's financial support for the eVTOL industry has exceeded USD 130 million to date, highlighting the commitment to fostering its development.

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