“Electric Aircraft Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric aircraft market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for electric aircraft? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The electric aircraft market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Fixed Wing; Rotary Wing; Hybrid Wing
- 2) By Technology: CTOL; STOL; VTOL
- 3) By System: Batteries; Electric Motors; Aerostructures; Avionics; Software; Other Systems
- 4) By Platform: Regional Transport Aircraft; Business Jets; Light & Ultralight Aircraft
- 5) By Application: Commercial; Military; Other Applications
- Companies Mentioned: Airbus Yuneec Holding Limited; The Boeing Company; Yuneec International; Lilium GmbH; Safran SA
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the electric aircraft market are: Airbus Yuneec Holding Limited, The Boeing Company, Yuneec International, Lilium GmbH, Safran SA, Bye Aerospace, Zunum Aero, Raytheon Company, Honeywell International Inc., Rolls-Royce Holding PLC, Thales Group, Aerospace Limited, Zodiac Aerospace SA, and Electric Aircraft Corporation.
The global electric aircraft market is expected to grow from $7.94 billion in 2022 to $9.10 billion in 2023 at a compound annual growth rate (CAGR) of 14.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric aircraft market is expected to grow to $15.16 billion in 2027 at a CAGR of 13.6%.
The electric aircraft market consists of sales of ultralight and light electric aircraft. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The electric aircraft refer to machines used for air travel. Electric aircraft are planes that use batteries to power an electric motor instead of jet fuel to power an engine. They consist of a motor for converting electrical energy into mechanical energy and a battery.
North America was the largest region in the electric aircraft market in 2022. The regions covered in the electric aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of electric aircraft are fixed-wing, rotary wing, and hybrid wing. The fixed-wing refers to any aircraft that uses a jet engine or propeller to move it forward. Fixed-wing is an airplane with fixed wings that don't have wings that oscillate or move up and down. The technologies include CTOL, STOL, and VTOL that include systems such as batteries, electric motors, aerostructures, avionics, software, other systems. These are found in regional transport aircraft, business jets, and light and ultralight aircraft. The applications include commercial, military, and other types of aircrafts.
A surge in global air passenger volume is expected to drive the electric aircraft market. Airlines that specialize in carrying people are called passenger airlines. The air passengers are opting for air travel due to the benefits such as speed, increased international travel, and others. The electric aircraft reduces cost of travel for passengers, and contributes to the environment by being sustainable. For instance, according to The International Air Transport Association, a Cuba-based trade association of the world's airlines, the global air traffic is increased by 76.0% from March 2021 to March 2022. Also, it is projected that there will be 4.0 billion passengers worldwide in 2024, reaching pre-COVID-19 levels (103% of the amount for 2019). Therefore, a surge in global air passenger volume is driving the demand for electric aircraft market.
Technological advancements are a key trend in the electric aircraft market. Major companies operating in the electric aircraft market are coming up with novel technologies for enabling longer routes and gain a competitive edge in the market. For instance, in June 2022, Rolls Royce, a UK-based aero-engine maker, developed turbogenerator technology, including the creation of a new compact engine for hybrid-electric applications. The system will be an on-board power source with scalable power supplies, complementing the Rolls-Royce Electrical propulsion portfolio by enabling a greater range of sustainable aviation fuels. Rolls-Royce intends to offer a power range of 500 kW to 1200 kW using this turbogenerator technology.
In April 2022, Textron Inc., a US-based conglomerate, acquired Pipistrel for an amount of $235 million. With this acquisition, Textron will incorporate Pipistrel into its new Textron eAviation division, which will execute a strategy of developing a family of sustainable aircraft for urban air mobility, general aviation, freight, and special missions. Pipistrel is a Slovenia-based electric aircraft manufacturer and a pioneer in electric airplane design, development, and certification.
The countries covered in the electric aircraft market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The electric aircraft market research report is one of a series of new reports from The Business Research Company that provides electric aircraft market statistics, including electric aircraft industry global market size, regional shares, competitors with an electric aircraft market share, detailed electric aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the electric aircraft industry. This electric aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Electric Aircraft Market Characteristics
3. Electric Aircraft Market Trends And Strategies
4. Electric Aircraft Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Electric Aircraft Market
- 4.2. Ukraine-Russia War Impact On Electric Aircraft Market
- 4.3. Impact Of High Inflation On Electric Aircraft Market
5. Electric Aircraft Market Size And Growth
- 5.1. Global Electric Aircraft Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Electric Aircraft Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Electric Aircraft Market Segmentation
- 6.1. Global Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fixed Wing
- Rotary Wing
- Hybrid Wing
- 6.2. Global Electric Aircraft Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- CTOL (Conventional Take-Off And Landing)
- STOL (Short Take-Off And Landing)
- VTOL (Vertical Take-Off And Landing)
- 6.3. Global Electric Aircraft Market, Segmentation By System, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Batteries
- Electric Motors
- Aerostructures
- Avionics
- Software
- Other Systems
- 6.4. Global Electric Aircraft Market, Segmentation By Platform, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Regional Transport Aircraft
- Business Jets
- Light And Ultralight Aircraft
- 6.5. Global Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Military
- Other Applications
7. Electric Aircraft Market Regional And Country Analysis
- 7.1. Global Electric Aircraft Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Electric Aircraft Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Electric Aircraft Market
- 8.1. Asia-Pacific Electric Aircraft Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Electric Aircraft Market
- 9.1. China Electric Aircraft Market Overview
- 9.2. China Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Electric Aircraft Market
- 10.1. India Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Electric Aircraft Market
- 11.1. Japan Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Electric Aircraft Market
- 12.1. Australia Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Electric Aircraft Market
- 13.1. Indonesia Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Electric Aircraft Market
- 14.1. South Korea Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Electric Aircraft Market
- 15.1. Western Europe Electric Aircraft Market Overview
- 15.2. Western Europe Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Electric Aircraft Market
- 16.1. UK Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Electric Aircraft Market
- 17.1. Germany Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Electric Aircraft Market
- 18.1. France Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Electric Aircraft Market
- 19.1. Eastern Europe Electric Aircraft Market Overview
- 19.2. Eastern Europe Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Electric Aircraft Market
- 20.1. Russia Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Electric Aircraft Market
- 21.1. North America Electric Aircraft Market Overview
- 21.2. North America Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Electric Aircraft Market
- 22.1. USA Electric Aircraft Market Overview
- 22.2. USA Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Electric Aircraft Market
- 23.1. South America Electric Aircraft Market Overview
- 23.2. South America Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Electric Aircraft Market
- 24.1. Brazil Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Electric Aircraft Market
- 25.1. Middle East Electric Aircraft Market Overview
- 25.2. Middle East Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Electric Aircraft Market
- 26.1. Africa Electric Aircraft Market Overview
- 26.2. Africa Electric Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Electric Aircraft Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Electric Aircraft Market Competitive Landscape And Company Profiles
- 27.1. Electric Aircraft Market Competitive Landscape
- 27.2. Electric Aircraft Market Company Profiles
- 27.2.1. Airbus Yuneec Holding Limited
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. The Boeing Company
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Yuneec International
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Lilium GmbH
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Safran SA
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Electric Aircraft Market
29. Electric Aircraft Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer