eVTOL Aircraft Market Size to Worth USD 170 Billion By 2034

The global market size has been evaluated at USD 3.31 billion in 2025 and it is expected to be worth around USD 170 billion by 2034, representing a double digit CAGR of 54.90% from 2025 to 2034.

/EIN News/ -- Ottawa, Feb. 17, 2025 (GLOBE NEWSWIRE) -- The global eVTOL aircraft market size was valued at USD 2.14 billion in 2024 and is projected to reach around USD 109.75 billion by 2033, a study published by Precedence Research a sister firm of Precedence Statistics.

A rise in emergency cases in healthcare is likely to drive the eVTOL aircraft market. The market is poised to grow at a remarkable CAGR of 54.90% during the forecast period.

The Complete Study is Now Available for Immediate Access | Download the Sample Pages of this Report@ https://www.precedenceresearch.com/sample/2515

eVTOL Aircraft Market Key Highlights:

• North America dominated the global eVTOL aircraft market by holding a significant share of 36% in 2024.
• The vectored thrust segment holds the largest revenue share and will likely maintain growth from 2025 to 2034.
• The piloted segment has contributed the biggest market share of 31% in 2024
• The semi-autonomous segment held a major market share of 38% in 2024.
• The battery-electric segment is expanding at a notable CAGR during the forecast period.
• The 200-500 km segment holds a significant market share in 2024
• The commercial segment is expected to expand at a solid CAGR during the forecast period.
• The <250 kg segment is projected to grow at the fastest CAGR during the forecast period.

eVTOL Aircraft Market Overview
eVTOL aircraft, one of the newest developments in transportation technology, are electric aircraft that fly straight up and down during takeoff and landing. eVTOLs, short for electric vertical take-off and landing aircraft, are also known as flying taxis or air taxis. Multiple motors are required to assure safety and enhance efficiency.

Electric propulsion advancements based on advancements in motor, battery, fuel cell, and electronic controller technologies have led to the growth of this technology. The requirement for new car technology to guarantee Urban Air Mobility (UAM) is another factor driving it.

Set up a meeting at your convenience to get more insights instantly! https://www.precedenceresearch.com/schedule-meeting

Growth Factors in the eVTOL Aircraft Market

• Wide applications in the military: There are numerous uses for this military aircraft, such as logistics, transportation, and reconnaissance. Furthermore, many eVTOL designs are appropriate for the quick deployment of soldiers and equipment in isolated or challenging-to-reach areas because of their high speed and long-range characteristics. Additionally, there may be uses in medical evacuations and search and rescue operations. The military may find the technology useful in a number of capacities as it advances.
• Urban congestion solutions: Traffic congestion is becoming a global problem as metropolitan areas keep growing. A World Economic Forum analysis estimates that traffic congestion costs the American economy more than $300 billion a year. eVTOLs are being considered by automakers as a way to reduce ground traffic and add a new level of urban mobility.
• Strategic collaboration & technological leaps: The eVTOL market is poised to upend the whole aerospace sector in addition to urban transportation. It is giving automakers a desirable advantage to investigate and gain. Big automakers are collaborating strategically with startups and aerospace firms.
  

Opportunities in the eVTOL Aircraft Market

• In February 2025, a $300 million investment from partners, including BlackRock, was disclosed by the manufacturer of electric vertical take-off and landing, or eVTOL, aircraft. At the conclusion of the third quarter, Archer's financial sheet showed over $500 million in cash and cash equivalents.
• In January 2025, after closing its most recent funding round, Vertical Aerospace raised more than the $75 million goal. Before subtracting underwriting fees and other expenditures of about $6 million, the UK eVTOL aircraft developer reported that the round garnered $90 million.

View Full Research Reports: https://www.precedenceresearch.com/evtol-aircraft-market

Key Regional Analysis
U.S. eVTOL Aircraft Market Size to Attain USD 52,134.75 Million by 2034

The U.S. eVTOL aircraft market size surpassed USD 644.14 million in 2024 and is predicted to attain USD 52,134.75 million by 2034, growing at a CAGR of 55.17% from 2025 to 2034.

Congested urban regions are driving North America.

North America held the major share of the eVTOL aircraft market in 2024. Modern transportation alternatives like eVTOL planes are much needed because North America is home to some of the most crowded urban areas in the world. To improve mobility and lessen traffic congestion, cities including Dallas, New York, and Los Angeles are looking at eVTOL flying taxi services.

The well-established infrastructure in the region, including heliports, potential urban vertiport locations, and already-existing airports, can also make it easier to deploy eVTOL aircraft. Additionally, work is being done to build vertiports, charging stations, and maintenance facilities—infrastructure made especially for eVTOL operations. Additionally, the military and large corporations are entering into more contracts, which helps the region's economy grow.

• In January 2025, leading hybrid-electric VTOL aircraft developer Horizon Aircraft, located in Canada, reported that it had raised USD 8.4 million from an investor.
  

Rising technology is driving the Asia Pacific.

Asia Pacific is estimated to achieve a significant growth rate in the eVTOL aircraft market during the predicted timeframe. Urban congestion and increased urbanization, especially in large cities in China, India, Japan, Australia, and South Korea, are the main causes of the region's rapid growth. Emerging markets such as China and India provide substantial prospects for the eVTOL industry because of their sustained robust GDP development.

Because of its steady economic growth and official backing in the form of advantageous laws, money, and alliances, China is drawing significant foreign investments. Furthermore, the development of eVTOL is supported by a strong technical ecosystem in Asia Pacific, which includes developments in battery technology, 5G connectivity, and artificial intelligence (AI). These elements work together to create the perfect setting for the growth of the eVTOL business in the area.

• In November 2024, the $14 million fundraising round was closed by the ePlane Company, which was developed at IIT Madras and hopes to become a major force in India's electric vertical takeoff and landing (eVTOL) mobility market. According to a statement from the firm, ePlane is set to become the most well-funded eVTOL player in India with this finance.
  

eVTOL Aircraft Market Report Coverage

Report Coverage	Details
Market Size in 2024	USD 2.14 Billion
Market Size by 2034	USD 170 Billion
CAGR from 2025 to 2034	54.90%
Forecast Period	2025 to 2034
Base Year	2024
Dominating Region	North America
Fastest Growing Region	Europe
Segments Covered	Lift Technology, Mode of Operation, Propulsion Type, Range, Application, Maximum Take-Off Weight (MTOW), and Regions
Regions Covered	North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344

eVTOL Aircraft Market Segmentation Analysis:

• By Lift Technology, the vector thrust segment dominated the eVTOL aircraft market in 2024. Vectored thrust in order to produce both vertical lift and forward push, eVTOLs combine fixed wings with vector-able rotors or fans. This design makes improved maneuverability and effective cruise flying possible. Although they can be more complicated, vectored thrust systems provide benefits in terms of range and performance.
• By Lift Technology, the multirotor segment is expected to grow at the fastest rate during the forecast period. With many rotors (usually four to eight) that produce lift and propulsion, multirotor eVTOLs resemble big drones. These planes are renowned for being straightforward, steady, and controllable. Short-range urban air mobility (UAM) applications like delivery drones and air taxis are a good fit for them.
• By Mode of Operation, the piloted segment led the eVTOL aircraft market in 2024. The main reason why pilot training for eVTOL aircraft is different from other types of training is because of the special features of these aircraft. Pilots may have challenges when operating urban eVTOL because of the congested airspace, near proximity to other vehicles, and ground infrastructure. New types of agile decision-making that are not usually taught in traditional aviation will be required for this.
• By Propulsion Type, the battery-electric segment dominated the eVTOL aircraft market and is likely to achieve the fastest growth during the forecast period. Among the many benefits of electric motors are their increased efficiency, less pollutants, and decreased noise levels. A battery pack, electric motors, and power electronics that control energy distribution usually make up an eVTOL's electric powertrain. A key component of eVTOL services will be battery performance and reserve, which will also give manufacturers a means of setting their models apart in a crowded market.
• By Range, the 200-500 km segment dominated the eVTOL aircraft market in 2024. For intercity travel, the growing need for long-range vertical takeoff and landing aircraft is the reason for the segment's growth.
• By Application, the commercial segment led the market and is expected to grow at the fastest CAGR during the forecast period. Aircraft intended for commercial use, including air taxis, urban air mobility solutions, and regional air transportation, are included in this category. By providing effective and environmentally responsible substitutes for conventional ground transportation, these eVTOL aircraft have the potential to completely transform urban mobility.
• By Maximum Take-off Weight, the <250 kg segment is expected to achieve the highest CAGR in the eVTOL aircraft market during the forecast period. The main advantage of this sector is its adaptability for light cargo and passenger transportation in urban and suburban settings, where short-distance travel is common. Both individual users and commercial suppliers find the low-weight class very appealing since it offers more design options and reduced operating expenses.
  

Browse More Insights:

• The global eCTOL aircraft market size accounted for USD 2.61 billion in 2024 and is expected to be worth around USD 127.26 billion by 2034, at a CAGR of 47.5% from 2024 to 2034.
• The global hydrogen aircraft market size was estimated at USD 1.13 billion in 2024 and is anticipated to reach around USD 28.89 billion by 2034, expanding at a CAGR of 38.24% from 2025 to 2034.
• The global ultralight aircraft market size is projected to be worth around USD 25.57 billion by 2034 from USD 10.21 billion in 2024, at a CAGR of 9.62% from 2024 to 2034.
• The global connected aircraft market size is estimated at USD 5.71 billion in 2024 and is anticipated to reach around USD 50.59 billion by 2034, growing at a CAGR of 24.4% from 2024 to 2034.
• The global zero-emission aircraft market size is estimated at USD 7.71 billion in 2024 and is anticipated to reach around USD 35.09 billion by 2034, expanding at a CAGR of 16.36% from 2024 to 2034.
• The global autonomous aircraft market size was valued at USD 9.72 billion in 2024 and it is estimated to reach around USD 57.58 billion by 2034 with a registered CAGR of 19.47% from 2025 to 2034.
• The global electric aircraft market size was valued at USD 7.91 billion in 2022 and it is expected to hit USD 50.86 billion by 2032 with a noteworthy CAGR of 20.6% from 2023 to 2032.
• The global autonomous vehicle market size was estimated at USD 158.31 billion in 2023 and is projected to hit around USD 2,752.80 billion by 2033, poised to grow at a compound annual growth rate (CAGR) of 33% from 2024 to 2033.
• The global aircraft micro turbine market size accounted for USD 49.48 million in 2024 and is expected to exceed around USD 117.56 million by 2034, growing at a CAGR of 9.04% from 2025 to 2034.
• The global unmanned aerial vehicle (UAV) market size accounted for USD 37.20 billion in 2024 and is predicted to reach around USD 157.21 billion by 2034, growing at a CAGR of 15.50% from 2024 to 2034.

eVTOL Aircraft Market Top Companies

• Airbus SE
• Bell Textron, Inc.
• EHang Holdings Ltd.
• Elbit Systems) Ltd.
• Embraer SA
• Kitty Hawk
• Joby Aviation
• Beta Technologies

What is Going Around the Globe?

• In January 2025, Vertical, a U.K.-based eVTOL aircraft developer, revealed that it has secured an extra $90 million to support the manufacturing of its VX4 eVTOL aircraft.
• In November 2024, in order to promote financial stability, Vertical Aerospace obtained an agreement with Mudrick Capital that commits up to $50 million in the upcoming equity round. It is anticipated that the acquisition will considerably reduce Vertical's debt by adding around $180 million to its balance sheet, including the conversion of about $130 million in debt into stock.
• In November 2024, in a Series C fundraising round, Beta Technologies raised $318 million to support its ambitions to commercialize its Alia electric aircraft. The Vermont-based business confirmed that it has now raised over $1 billion in equity capital when it announced the round's closure on October 31.
  

The research report categorizes the eVTOL Aircraft market into the following segments and subsegments:
By Lift Technology

• Lift Plus Cruise
• Multirotor
• Vectored Thrust
  

By Mode of Operation

• Semi-Autonomous 
• Autonomous
• Piloted
  

By Propulsion Type

• Hybrid-Electric 
• Hydrogen-Electric
• Battery-Electric
  

By Range

• 200-500 Km
• 0-200 Km

By Application

• Emergency Medical Services (Ems)
  • Medical Cargo Transport
  • Air Ambulance
• Commercial
  • Delivery Drones
  • Air Taxi
• Military
  • Combat Mission
  • Cargo Transport
    

By Maximum Take-Off Weight (MTOW)

• <250 Kg
• 250-500 Kg
• 500-1000 Kg
• 1000-1500 Kg
• >1500kg
  

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
  

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or Asia Pacific.

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2515

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344

Precedence Research offers exclusive subscription services designed to provide in-depth data and analytics insights. With a subscription, you gain access to a comprehensive suite of statistical resources, market intelligence, and research tools tailored to your business needs. Whether you're looking for industry trends, competitive analysis, or future market projections, our subscription plans ensure you stay ahead with reliable, up-to-date information.

Browse Our Subscription Plans@ https://www.precedenceresearch.com/get-a-subscription

About Us

Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Web: https://www.precedenceresearch.com

Our Blogs:

Towards Healthcare | Towards Packaging | Statifacts | Towards EV Solutions | Towards Dental | Towards Automotive | Nova One Advisor

Get Recent News:

https://www.precedenceresearch.com/news

For Latest Update Follow Us:

LinkedIn | Facebook | Twitter