Market Insights
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.
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. The electric aircraft market is likely to grow at a lucrative CAGR of 168% over the next five years to reach US$ 6.6 billion in 2026, owing to the ongoing efforts of governments and companies towards introducing Urban Air Mobility across countries/regions.
Segments' Analysis
Based on the aircraft type, the electric aircraft market is segmented as ultralight aircraft and light aircraft. As of 2020, 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 increasing focus towards sustainable means of air travel.
Based on the technology type, the market is segmented as all-electric aircraft and hybrid aircraft. All-electric aircraft is expected to remain the dominant technology type in the market during the forecast period. A higher focus towards 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.
Based on the range type, the electric aircraft market is segmented as 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 faster-growing segment during the forecast period. Currently, all-electric aircraft are operating at less than 500 Km range with limited battery storage capacity and energy density.
In terms of regions, 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. North America is expected to expand at the highest rate, driven by a strong roadmap for establishing UAM networks across different cities.
Key Players
The following are the key players in the electric aircraft market.
- Guangzhou EHang Intelligent Technology Co. Ltd
- Pipistrel d.o.o Ajdovš?ina (Pipistrel Aircraft)
- Joby Aviation
- Archer Aviation
- Lilium GmbH
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 in order 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.
Report Features
This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The electric aircraft market is segmented into the following categories.
Electric Aircraft Market, by Aircraft Type
- Ultralight Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Light Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Electric Aircraft Market, by Technology Type
- All-Electric Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Hybrid Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Electric Aircraft Market, by Range Type
- Less Than 500 Km (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- More Than 500 Km (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Electric Aircraft Market, by Region
- North America (Country Analysis: the USA, and Others)
- Europe (Country Analysis: France, Switzerland, and Rest of Europe)
- Asia-Pacific (Country Analysis: China and Rest of Asia-Pacific)
- Rest of the World (Sub-region Analysis: the Middle East and Latin America & Africa)
Report 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 on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the 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 sales@stratviewresearch.com
