Electric aircraft is driven by the use of electric motors and are equipped with electrical systems. These aircraft are light in weight with less fuel usage and reduced emissions. The non-propulsive power systems such as mechanical, hydraulic, and pneumatic are replaced with an electrical system that helps in reducing the operating cost of the electric aircraft. The absence of heavy machines that require proper maintenance provides better efficiency and it makes electrical system a suitable option for both aircraft manufacturers and aircraft carriers. Electric aircraft are highly innovative with respect to technology and functioning. Electric aircraft uses different sources of energy in order to preserve non-renewable energy and it is considered better than traditional aircraft, which is expected to drive the market growth during the forecast period.

In 2021, Global electric aircraft Market is estimated to reach US$ 7,369.5 million in terms of value.

Market Dynamics

Several global players across different regions are focusing on developing new products with new features and technologies to gain a competitive edge in the market. Industries are focusing on developing new products with new features to cater to the demand from the end users. For instance, In August 2021, DHL Express ordered 12 electric cargo aircraft from start-up Eviation for delivery by 2024 and planned to build the world's first electric air cargo network. Various systems such as high-power generators are designed and tested in this laboratory. Furthermore, the global electric aircraft market is expected to grow significantly during the forecast period, owing to the increasing airline passengers. This is attributed to the rising disposable income of people in emerging and developed countries. For Instance, Bureau of Economic Analysis in October 2022, The Disposable personal income (DPI) increased $132.9 billion (0.7 percent) in 2022.

Key features of the study:

• This report provides an in-depth analysis of the Global electric aircraft market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global electric aircraft market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the Global electric aircraft market are Boeing, Airbus, Raytheon Technologies Corporation, Honeywell International Inc., Thales Group, Lockheed Martin Corporation, Zunum Aero, YUNEEC, Elektra Solar GmbH, PIPISTREL, BYE AEROSPACE, DELOREAN AEROSPACE, LLC, Joby Aviation, Siemens, Safran, Bombardier, TTTech Computertechnik AG, and AgustaWestland.
• The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global electric aircraft market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global electric aircraft market.

Detailed Segmentation

• Global electric aircraft Market, By Type:
  • Ultralight Aircraft
  • Light Jet
•  Global electric aircraft Market, By Component:
  • Battery
  • Electric Motor
  • Others
• Global electric aircraft Market, By Technology:
  • Hybrid
  • All Electric
• Global electric aircraft Market, By Power Range:
  • Less than 500 Km
  • More than 500 Km
• Global electric aircraft Market, By Application:
  • Commercial
  • Military
  • Others
• Global electric aircraft Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • Boeing
  • Airbus
  • Raytheon Technologies Corporation
  • Honeywell International Inc.
  • Thales Group
  • Lockheed Martin Corporation
  • Zunum Aero
  • YUNEEC
  • Elektra Solar GmbH
  • PIPISTREL
  • BYE AEROSPACE
  • DELOREAN AEROSPACE, LLC
  • Joby Aviation
  • Siemens
  • Safran
  • Bombardier
  • TTTech Computertechnik AG
  • AgustaWestland
  • Others

 “*” marked represents similar segmentation in other categories in the respective section.