Global Electric Aircraft Market Size, Trends, and Growth Opportunity, By Type (Ultralight Aircraft and Light Jet), By Technology (Hybrid Aircraft and Electric Aircraft), By Range (Less than 500 km and More than 500 km), By Component (Aircraft Battery, Aircraft Electric Motor, and Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Electric Aircraft Market
The Global Electric Aircraft Market was valued at USD 5.5 billion in 2021 and is expected to reach USD 34.2 billion by 2027, at a CAGR of 27.11% from 2022-2027.
Electric Aircraft have the potential to change air travel by reducing their carbon footprint & range costs. The necessity for strict emission standards & sustainable aviation is the reason for the strong demand for electric aircraft. Using electric aircraft has the additional benefit of producing less noise. Jet engines are quieter than conventional piston engines, and are operated by electric aviation. This is the main reason why commercial airline operators globally are increasingly adopting electric aircraft.
Market Drivers
The use of range & gasoline is needed in significant quantities by the aircraft. This increases the cost of producing airplanes for the aviation sector. This factor is boosting the widespread adoption and acceptance of electric aircraft. In addition, the market for electric aircraft is growing due to consumer preference for technologically advanced goods.
Furthermore, technological advancement in the aviation industry is another element fuelling the growth of the global market for electric aircraft. Several technologies are used in the production of airplanes. These factors will accelerate the global market growth for electric aviation in the future.
Market Restraints
However, it is expected that the expensive cost of electric aircraft and the need for adequate charging infrastructure will restrain market expansion and growth in the future.
Also, the biggest challenge that the aviation industry & electric aircraft manufacturers face is the development of high-density batteries. The manufacturers are not able to develop batteries that can run for long distances. The batteries do not have a long shelf life, which is restricting the electric aircraft market growth.
Market Segmentation
The global electric aircraft market is segmented into type, technology, range, component, and region.
Based on type, the global electric aircraft market is segmented into ultralight aircraft and light jets. Further, based on technology the market is segmented into hybrid aircraft and electric aircraft.
Regional Analysis
The global electric aircraft market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region is expected to dominate the electric aircraft market due to rising environmental concerns and expanding government initiatives. The region will account for the most significant revenue share in 2022, ranging from the market for electric aircraft. Additionally, many business owners in the region travel extensively by business aircraft. Due to this aspect, the demand for electric aircraft is expanding in North America.
Whereas, the Asia Pacific region’s electric aircraft market is expanding due to many major market players and their rising expenditure in R&D activities.
Key Players
Various key players are discussed in the global electric aircraft market report including Pipistrel Group, Bye Aerospace, Airbus, Aerospace Limited, Leonardo S.p.A., Yuneec Holding Limited, Faradair Aerospace Limited, Boeing, Groupe Gorge, Digisky S.R.L., and Others
For Instance, in January 2023, the U.S. Air Force selected Electra Aero, Inc. for a Strategic Funding Partnership valued at US$ 85 million to develop electric short takeoff and landing (eSTOL) aircraft. This strategic funding partnership involved the development of a full-scale pre-production prototype of eSTOL aircraft.
Market Taxonomy
By Type
• Ultralight Aircraft
• Light Jet
By Technology
• Hybrid Aircraft
• Electric Aircraft
By Range
• Less than 500 km
• More than 500 km
By Component
• Aircraft Battery
• Aircraft Electric Motor
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Electric Aircraft Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Electric Aircraft Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact Due To Recent Energy Crisis
4.2.5 Cumulative Impact Due Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact Of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Electric Aircraft Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Electric Aircraft Market Share Analysis, By Type
5.3 Global Electric Aircraft Market Size and Forecast, By Type
5.3.1 Ultralight Aircraft
5.3.2 Light Jet
6 Global Electric Aircraft Market, By Technology
6.1 Y-o-Y Growth Comparison, By Technology
6.2 Global Electric Aircraft Market Share Analysis, By Technology
6.3 Global Electric Aircraft Market Size and Forecast, By Technology
6.3.1 Hybrid Aircraft
6.3.2 Electric Aircraft
7 Global Electric Aircraft Market, By Range
7.1 Y-o-Y Growth Comparison, By Range
7.2 Global Electric Aircraft Market Share Analysis, By Range
7.3 Global Electric Aircraft Market Size and Forecast, By Range
7.3.1 Less than 500 km
7.3.2 more than 500 km
8 Global Electric Aircraft Market, By Component
8.1 Y-o-Y Growth Comparison, By Component
8.2 Global Electric Aircraft Market Share Analysis, By Component
8.3 Global Electric Aircraft Market Size and Forecast, By Component
8.3.1 Aircraft Battery
8.3.2 Aircraft Electric Motor
8.3.3 Others
9 Global Electric Aircraft Market, By Region
9.1 Global Electric Aircraft Market Share Analysis, By Region
9.2 Global Electric Aircraft Market Share Analysis, By Region
9.3 Global Electric Aircraft Market Size and Forecast, By Region
10 North America Electric Aircraft Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 North America Electric Aircraft Market Share Analysis, By Type
10.3 North America Electric Aircraft Market Size and Forecast, By Technology
10.4 North America Electric Aircraft Market Size and Forecast, By Range
10.5 North America Electric Aircraft Market Size and Forecast, By Component
10.6 North America Electric Aircraft Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Electric Aircraft Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Europe Electric Aircraft Market Share Analysis, By Type
11.3 Europe Electric Aircraft Market Size and Forecast, By Technology
11.4 Europe Electric Aircraft Market Size and Forecast, By Range
11.5 Europe Electric Aircraft Market Size and Forecast, By Component
11.5 Europe Electric Aircraft Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4 Rest of Europe
12 Asia Pacific Electric Aircraft Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Asia Pacific Electric Aircraft Market Share Analysis, By Type
12.3 Asia Pacific Electric Aircraft Market Size and Forecast, By Technology
12.4 Asia Pacific Electric Aircraft Market Size and Forecast, By Range
12.5 Asia Pacific Electric Aircraft Market Size and Forecast, By Component
12.6 Asia Pacific Electric Aircraft Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4 Rest of Asia Pacific
13 Latin America Electric Aircraft Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Latin America Electric Aircraft Market Share Analysis, By Type
13.3 Latin America Electric Aircraft Market Size and Forecast, By Technology
13.4 Latin America Electric Aircraft Market Size and Forecast, By Range
13.5 Latin America Electric Aircraft Market Size and Forecast, By Component
13.6 Latin America Electric Aircraft Market Size and Forecast, Country
13.6.1 Brazil
13.6.2 Rest of Latin America
14 Middle East Electric Aircraft Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Middle East Electric Aircraft Market Share Analysis, By Type
14.3 Middle East Electric Aircraft Market Size and Forecast, By Technology
14.4 Middle East Electric Aircraft Market Size and Forecast, By Range
14.5 Middle East Electric Aircraft Market Size and Forecast, By Component
14.6 Middle East Electric Aircraft Market Size and Forecast, By Country
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Egypt
14.6.4 Kuwait
14.6.5 South Africa
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1: Pipistrel Group
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 Bye Aerospace
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 Airbus
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Aerospace Limited
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
