Electric Aircraft Market

Electric Aircraft Market Insights

“The global electric aircraft market is likely to grow at a lucrative CAGR of >150% over the next five years to reach US$ 6.6 billion in 2026.”

Want to get a free sample? Register Here

Introduction

Electric aircraft are powered by electricity via one or more electric motors which drive the propellers. In this type of aircraft, electricity is supplied via a variety of methods, the most common being batteries or solar cells. The electric aircraft industry is currently in the introduction stage of the industry life cycle and is expected to witness its growth stage during 2021-2030, owing to the ongoing efforts of governments and companies towards introducing Urban Air Mobility across countries/regions.

Electric Aircraft Market Drivers

• Rising Demand for Sustainable Aviation.
• Advancements in Battery Technology.
• Supportive Government Policies and Incentives.
• Growing Urban Air Mobility (UAM) Initiatives.
• Lower Operational and Maintenance Costs.

COVID-19 Impact

In the year 2020, the electric aircraft market witnessed a relatively negligible impact of the COVID-19 pandemic as the industry is still at the introduction stage.

Electric Aircraft Market Segments' Analysis

Aircraft Insights

“The ultralight aircraft segment accounted for the largest market share.”

The electric aircraft market is segmented into ultralight aircraft and light aircraft. The ultralight aircraft type dominate the market during the forecast period. The ultralight aircraft type was the only electric aircraft commercially available in the industry. It is projected to increase at a CAGR of more than 100% during 2020-2026, driven by an increasing focus on sustainable means of air travel.

Want to get a free sample? Register Here

Technology Insights

“All electric aircraft segment accounted for the largest market share.”

The market is segmented into all-electric aircraft and hybrid aircraft. All-electric aircraft are expected to remain the dominant technology type in the market during the forecast period. A higher focus on developing 100% emission-free and noise-free air mobility is the primary driver for the higher growth and adoption of all-electric aircraft as compared to hybrid aircraft.

Range Insights

“The less than 500 km range segment dominates the market and is also the fastest-growing.”

The electric aircraft market is segmented into less than 500 km and more than 500 km range. Less than 500 km range holds the major share of the electric aircraft market and is expected to be the fastest-growing segment during the forecast period. All-electric aircraft are operating at less than 500 Km range with limited battery storage capacity and energy density.

Regional Insights

“North America dominates the market during the forecast period.”

Driven by a strong roadmap for establishing UAM networks across different cities. Asia-Pacific accounted for a majority of the share, primarily driven by EHang’s AAV sales in China. Europe was another major market driven by Pipistrel electric aircraft sales in France, the UK, the Netherlands, Norway, and Switzerland. 

Want to get a free sample? Register Here

Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. 

The following are the key players in the electric aircraft market (arranged alphabetically).

• Archer Aviation
• Guangzhou EHang Intelligent Technology Co. Ltd
• Joby Aviation
• Pipistrel d.o.o Ajdovšcina (Pipistrel Aircraft)

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

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s electric aircraft market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players based on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]