Electric Aircraft Market Analysis | 2021-2026
Electric Aircraft Market Size, Share, Trend, Forecast, Competitive Analysis & Growth Opportunity: 2021-2026
The Electric Aircraft Market is likely to grow at a lucrative CAGR of >150% over the next five years to reach US$ 6.6 billion by 2026.
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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.
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.
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The electric aircraft market is segmented into ultralight aircraft and light aircraft. 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.
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.
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.
In terms of regions, North America is expected to expand at the highest rate, 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.
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The following are the key players in the electric aircraft market.
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.
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.
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Key questions this report answers
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How big is the sales opportunity?
In-depth Analysis of the Electric Aircraft Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
Who are the top players and their market positioning?
Competitive landscape analysis, Market share analysis
How complex is the business environment?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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Electric aircraft are operated with the help of an electric motor. These can be ultralight aircraft and light jets. Electric aircraft is operational based on the technologies of hybrid and all-electric. Aircraft batteries, electric motors, and others are the main components of an electric aircraft.
The electric aircraft market is estimated to grow at a CAGR of >150% from 2021 to 2026.
Ehang, Pipistrel Aircraft, Archer Aviation, Lilium, and Joby Aviation are the leading players in the electric aircraft market.
The Electric Aircraft Market is likely to reach US$ 6.6 billion by 2026.
North America is estimated to be dominant in the electric aircraft market in the foreseeable future.
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