Electric Aircraft Market

Electric Aircraft Market

Electric Aircraft Market Forecasts to 2028 - Global Analysis By Type (Fixed Wing, Rotary Wing and Hybrid Wing), Platform (Business Jets, Regional Transport Aircraft, General Aircraft, Trainer Aircraft, Unmanned Aerial Vehicle (UAV) and Advanced Air Mobility), System, Component, Range, Technology, Application and By Geography

4.7 (37 reviews)
4.7 (37 reviews)
Published: 2023 ID: SMRC22634

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $8.8 BN

Projected Year Value (2028)

US $25.72 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market


According to Stratistics MRC, the Global Electric Aircraft Market is accounted for $8.8 billion in 2022 and is expected to reach $25.72 billion by 2028 growing at a CAGR of 19.57% during the forecast period. Electric aircraft are powered by electric motors, in which the electricity is supplied via multiple methods including batteries, solar cells, fuel cells, power beaming, and ground power cables. Electric aircraft promise huge advantages in regards to degrade the issues of air and noise pollutions and harmful emissions. In addition, electric motors have low maintenance and operational costs. These potential benefits of electric aircraft make them more adoptable over fuel-based aircraft.

According to the World Tourism Organization, a specialized agency of the United Nations, the arrival of tourists in Maldives in January 2021 stood at 92,103. This count grew to 99,397 by 3rd February 2021. The rising count of tourists is creating immense scope for the aviation sector.

Market Dynamics:


Growing concerns regarding environment

Electric aircraft are anticipated to become more popular as they have less carbon impact than conventional aircraft. In tandem with rising air travel, the size of the world's fleet of airplanes is growing, which raises carbon dioxide emissions. Given the pressing need to reduce emissions, electric aircraft are now in high demand. These aircraft eliminate the need of non-renewable fuels which has negative impact on the environment and therefore fuelling the market growth.


Low energy density of batteries

The largest obstacle for the market for electric aircraft is low battery energy density. The energy density of aircraft batteries is substantially lower than that of traditional fossil fuels. The adoption of electric aircraft is hampered by the lengthy development process for high-density batteries needed for medium- and long-distance travel.


Growing air traffic

Domestic air travel has increased significantly in both developed and developing nations, which is mostly to credit for the increase in air traffic. The number of travellers using airplanes for short holiday journeys is fast expanding throughout many nations of the world due to increased disposable income and improving the tourist industry. The market's growth is being propelled by an increase in the number of passengers flying throughout the world.


Inadequate infrastructure

The initial deployment is being hampered by the high manufacture and maintenance expenses of eVTOLs as a result of the unknown overall cost. The majority of the manufacturing costs are related to the acquisition of new materials required to build effective and lightweight electric aircraft. The early introduction of air taxi services is being seriously delayed by the low aircraft count, a lack of sufficient charging stations, and airspace accommodations which are hampering market expansion.

Covid-19 Impact

The COVID-19 pandemic's fast and unexpected spread and breakout have had a negative impact on the smooth operation of several industrial sectors, with aviation being one of the most affected due to the continual need for the industry and its services. Significant reductions in passenger numbers have resulted in flights being cancelled or planes flying empty between airports, which in turn massively reduced revenues for airlines and forced many airlines to lay off employees or declare bankruptcy.

The aerostructures segment is expected to be the largest during the forecast period

The aerostructures segment is estimated to have a lucrative growth, due to its advancements. The majority of the entire cost of developing an airplane is made up of aerostructures. In order to be lightweight while preserving their structural strength, newly developed electric aircraft, notably eVTOL aircraft requires some of the most cutting-edge materials. These elements play considerable role in the segment growth.

The hybrid wing segment is expected to have the highest CAGR during the forecast period

The hybrid wing segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its fuel-powered engines and batteries. It offers a design that is impractical with just fuel-powered engines. It facilitates noise free vertical landings and takeoffs. It also has a significant number of electric propellers, which aid in effective aerodynamics. Also, it greatly lowers fuel costs, and the aviation sector is anticipated to save money, which is fueling the segment's expansion.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the raising urban air mobility. The US region has the largest UAV fleet used in military and civil applications. Many environmentally conscious individuals in this region are travelling short distances by electric airplanes. Several key market players are increasing investment toward research and development (R&D).

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the presence of major market participants. This region is being facilitated by favourable government policies. Additionally, the ability of the residents of this region to fly on business jets is fostering a surge in interest in electric aircraft in Europe.

Key players in the market

Some of the key players profiled in the Electric Aircraft Market include Airbus, Bye Aerospace, Pipistrel Group, Leonardo S.p.A., Aerospace Limited, Boeing, Faradair Aerospace Limited, Yuneec Holding Limited, Digisky S.R.L., PDL Electric Aircrafts, Groupe Gorge, Delfort Group AG, Republic Technologies, Papcel, Glatz, China Tobacco Maudit, Nippon Paper Papylia. and Hufeng.

Key Developments:

In February 2023, Boeing announced the launch of its first global support center (GSC) in India and also plans to invest in a new logistics center to cater to its regional customers.

In February 2023, The Tata Group-owned Air India has announced its commitment to order 250 Airbus aircraft to boost its domestic and international operations. The commitment includes 140 A320neo and 70 A321neo single-aisle aircraft as well as 34 A350-1000 and six A350-900 wide-body jets that will mark a new era for the country as the all-new, long-range aircraft celebrates its debut in the Indian market.

Types Covered:
• Fixed Wing
• Rotary Wing
• Hybrid Wing

Platforms Covered:
• Business Jets
• Regional Transport Aircraft
• General Aircraft
• Trainer Aircraft
• Unmanned Aerial Vehicle (UAV)
• Advanced Air Mobility

Systems Covered:
• Aircraft Configuration & Management System
• Flight Control & Mission Management System
• Air Pressurisation & Conditioning System
• Power Generation & Management System

Components Covered:
• Electric Motors
• Batteries
• Avionics
• Software
• Aerostructures
• Other Components

Ranges Covered:
• < 500 KM
• 500 KM

Technologies Covered:
• Conventional Take-Off & Landing (CTOL)
• Short Take-Off & Landing (STOL)
• Vertical Take-Off & Landing (VTOL)

Applications Covered:
• Military
• Civil
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Electric Aircraft Market, By Type
5.1 Introduction
5.2 Fixed Wing
5.3 Rotary Wing
5.4 Hybrid Wing

6 Global Electric Aircraft Market, By Platform
6.1 Introduction
6.2 Business Jets
6.3 Regional Transport Aircraft
6.4 General Aircraft
6.5 Trainer Aircraft
6.6 Unmanned Aerial Vehicle (UAV)
6.7 Advanced Air Mobility

7 Global Electric Aircraft Market, By System
7.1 Introduction
7.2 Aircraft Configuration & Management System
7.3 Flight Control & Mission Management System
7.4 Air Pressurisation & Conditioning System
7.5 Power Generation & Management System

8 Global Electric Aircraft Market, By Component
8.1 Introduction
8.2 Electric Motors
8.3 Batteries
8.4 Avionics
8.5 Software
8.6 Aerostructures
8.8 Other Components

9 Global Electric Aircraft Market, By Range
9.1 Introduction
9.2 < 500 KM
9.3 > 500 KM

10 Global Electric Aircraft Market, By Technology
10.1 Introduction
10.2 Conventional Take-Off & Landing (CTOL)
10.3 Short Take-Off & Landing (STOL)
10.4 Vertical Take-Off & Landing (VTOL)

11 Global Electric Aircraft Market, By Application
11.1 Introduction
11.2 Military
11.3 Civil
11.4 Other Applications

12 Global Electric Aircraft Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa

13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies

14 Company Profiling
14.1 Airbus
14.2 Bye Aerospace
14.3 Pipistrel Group
14.4 Leonardo S.p.A.
14.5 Aerospace Limited
14.6 Boeing
14.7 Faradair Aerospace Limited
14.8 Yuneec Holding Limited
14.9 Digisky S.R.L.
14.10 PDL Electric Aircrafts
14.11 Groupe Gorge
14.12 Delfort Group AG
14.13 Republic Technologies
14.14 Papcel
14.15 Glatz
14.16 China Tobacco Maudit
14.17 Nippon Paper Papylia.
14.18 Hufeng

List of Tables
1 Global Electric Aircraft Market Outlook, By Region (2020-2028) ($MN)
2 Global Electric Aircraft Market Outlook, By Type (2020-2028) ($MN)
3 Global Electric Aircraft Market Outlook, By Fixed Wing (2020-2028) ($MN)
4 Global Electric Aircraft Market Outlook, By Rotary Wing (2020-2028) ($MN)
5 Global Electric Aircraft Market Outlook, By Hybrid Wing (2020-2028) ($MN)
6 Global Electric Aircraft Market Outlook, By Platform (2020-2028) ($MN)
7 Global Electric Aircraft Market Outlook, By Business Jets (2020-2028) ($MN)
8 Global Electric Aircraft Market Outlook, By Regional Transport Aircraft (2020-2028) ($MN)
9 Global Electric Aircraft Market Outlook, By General Aircraft (2020-2028) ($MN)
10 Global Electric Aircraft Market Outlook, By Trainer Aircraft (2020-2028) ($MN)
11 Global Electric Aircraft Market Outlook, By Unmanned Aerial Vehicle (UAV) (2020-2028) ($MN)
12 Global Electric Aircraft Market Outlook, By Advanced Air Mobility (2020-2028) ($MN)
13 Global Electric Aircraft Market Outlook, By System (2020-2028) ($MN)
14 Global Electric Aircraft Market Outlook, By Aircraft Configuration & Management System (2020-2028) ($MN)
15 Global Electric Aircraft Market Outlook, By Flight Control & Mission Management System (2020-2028) ($MN)
16 Global Electric Aircraft Market Outlook, By Air Pressurisation & Conditioning System (2020-2028) ($MN)
17 Global Electric Aircraft Market Outlook, By Power Generation & Management System (2020-2028) ($MN)
18 Global Electric Aircraft Market Outlook, By Component (2020-2028) ($MN)
19 Global Electric Aircraft Market Outlook, By Electric Motors (2020-2028) ($MN)
20 Global Electric Aircraft Market Outlook, By Batteries (2020-2028) ($MN)
21 Global Electric Aircraft Market Outlook, By Avionics (2020-2028) ($MN)
22 Global Electric Aircraft Market Outlook, By Software (2020-2028) ($MN)
23 Global Electric Aircraft Market Outlook, By Aerostructures (2020-2028) ($MN)
24 Global Electric Aircraft Market Outlook, By Other Components (2020-2028) ($MN)
25 Global Electric Aircraft Market Outlook, By Range (2020-2028) ($MN)
26 Global Electric Aircraft Market Outlook, By < 500 KM (2020-2028) ($MN)
27 Global Electric Aircraft Market Outlook, By > 500 KM (2020-2028) ($MN)
28 Global Electric Aircraft Market Outlook, By Technology (2020-2028) ($MN)
29 Global Electric Aircraft Market Outlook, By Conventional Take-Off & Landing (CTOL) (2020-2028) ($MN)
30 Global Electric Aircraft Market Outlook, By Short Take-Off & Landing (STOL) (2020-2028) ($MN)
31 Global Electric Aircraft Market Outlook, By Vertical Take-Off & Landing (VTOL) (2020-2028) ($MN)
32 Global Electric Aircraft Market Outlook, By Application (2020-2028) ($MN)
33 Global Electric Aircraft Market Outlook, By Military (2020-2028) ($MN)
34 Global Electric Aircraft Market Outlook, By Civil (2020-2028) ($MN)
35 Global Electric Aircraft Market Outlook, By Other Applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.