DUBLIN–(BUSINESS WIRE)–The “Electric Aircraft Market Size, Share, Trends, By Type, By Component, By Technology, By Application, By Range, and By Region Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global Electric Aircraft Market size is expected to reach USD 226.6 Million in 2030 and record a revenue CAGR of 8.2% during the forecast period, according to the latest report. Rising demand for fuel-efficient means of transportation, along with stringent government regulations to promote the adoption of clean technologies, is expected to boost market growth over the forecast period.
Electric aircraft reduces carbon footprint and fuel costs and has the potential to revolutionize air travel. The high demand for electric aircraft is attributed to the need for sustainable aviation and the stringent emission norms. However, the high cost of electric aircraft and the lack of charging infrastructure are expected to restraint the market growth.
Reduced noise levels is another advantage of using electric aircraft. Electric aircraft deploys jet engines, which are quieter than traditional piston engines. This is a significant factor that has resulted in the increased adoption of electric aircraft among commercial airline operators globally.
The reduced noise levels also help electric aircraft to operate in noise-sensitive areas, such as near airports. Electric aircraft are also more fuel efficient than traditional aircraft, which is another key factor that is driving the growth of the electric aircraft market.
The increased focus on reducing carbon emissions is another major factor that is fueling the growth of the electric aircraft market. Electric aircraft emit no carbon emissions, which helps to reduce the overall carbon footprint of an organization. This is a key factor that is expected to drive the growth of the electric aircraft market over the forecast period.
Some Key Highlights from the Report
Ultra-light segment accounted for the largest market share in 2019 and is projected to grow at a significant CAGR during the forecast period. The growth of this segment is attributed to the low fuel consumption, which in turn reduces operating costs.
The business aviation segment is projected to grow at a significant CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for electric aircraft from various business aviation operators, such as Flexjet and NetJets.
The two-seater aircraft segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for these aircraft from flight training schools and private pilots.
The battery segment accounted for the largest market share in 2019 and is projected to grow at a significant CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of batteries as a power source for electric aircraft.
The commercial segment is expected to grow at the highest CAGR of 9.3% during the forecast period. The rapid growth of the segment can be attributed to the increasing demand for electric aircraft from the commercial sector. Commercial electric aircraft are being used for short-haul flights, owing to their low operating costs and reduced carbon emissions.
For the purpose of this report, the publisher has segmented electric aircraft market based on type, component, technology, range, application, and region:
Less than 500 KM
More than 500 KM
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Electric Aircraft Market Segmentation & Impact Analysis
4.1. Electric Aircraft Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Increased efficiency
22.214.171.124. Decreased carbon-dioxide emission
4.2.3. Market restraints analysis
126.96.36.199. Lack of availability of expert professionals
188.8.131.52. Battery performance
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Price trend Analysis
4.6. Customer Mapping
4.7. Covid-19 Impact Analysis
4.8. Global Recession Influence
Chapter 5. Electric Aircraft Market By Type Insights & Trends
Chapter 6. Electric Aircraft Market By Component Insights & Trends
Chapter 7. Electric Aircraft Market By Technology Insights & Trends
Chapter 8. Electric Aircraft Market By Range Insights & Trends
Chapter 9. Electric Aircraft Market By Application Insights & Trends
Chapter 10. Electric Aircraft Market Regional Outlook
Chapter 11. Competitive Landscape
11.1. Market Revenue Share by Manufacturers
11.2. Manufacturing Cost Breakdown Analysis
11.3. Mergers & Acquisitions
11.4. Market positioning
11.5. Strategy Benchmarking
11.6. Vendor Landscape
Chapter 12. Company Profiles
Yuneec Holding Limited
EHang Holdings Limited
Faradair Aerospace Limited
For more information about this report visit https://www.researchandmarkets.com/r/stk4q9