ELECTRIC AIRCRAFT MARKET ANALYSIS

Electric Aircraft MarketSize and Trends

The Global Electric Aircraft Market is estimated to account for US$ 24,485.3 Mn in terms of value by the end of 2030.

Market Driver:                                                      

Rising Environmental concerns, increasing awareness regarding safety issues, and increased research & development in the aerospace industry

The use of electric aircraft helps in reducing maintenance and aircraft cost by saving fuel combustion, and also helps in reducing air and noise pollution. For instance, in September 2020, Airbus introduced a new concept for zero-emission by using hydrogen as a primary source of power. In fact, most of the electric aircraft are low in weight and have less harmful emission of gases.  For instance, in June 2020, The European Aviation Safety Agency (EASA) completed the type-certification of Pipistrel aircraft built by an aerospace company in Slovenia. Pipistrel aircraft is powered by an electric motor that helps in reducing noise pollution and emission of harmful gases in order to improve the sustainability of the aviation. Moreover, electric aircraft are developed with highly innovative technologies that ensure proper safety and have less impact on the environment.

Figure 2: Global Electric Aircraft Market (US$ Mn) Analysis and Forecast, 2022 - 2030  

Global Electric Aircraft Market was valued at US$ 7,369.5 Mn in 2021 and is expected to reach US$ 24,485.3 Mn by 2030, growing at a CAGR of 14.5% between 2022 and 2030.