The Business Research Company

The Business Research Company's Electric Aircraft Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire.com/ -- The electric aircraft market has experienced robust growth in recent years, expanding from $9.08 billion in 2023 to $10.41 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to urban air mobility (uam) initiatives, rising fuel costs, demonstration flights and prototypes, environmental concerns, government initiatives and incentives.

What Is The Estimated Market Size Of The Global Electric Aircraft Market And Its Annual Growth Rate?

The electric aircraft global market is projected to continue its strong growth, reaching to $17.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to increasing global air traffic, advancements in energy storage, regulatory support and certification processes, global efforts to achieve net-zero emissions. Major trends in the forecast period include development of regional and short-haul electric aircraft, advancements in battery technology, hybrid electric aircraft solutions, focus on noise reduction, increasing investments in electric aviation.

Explore Comprehensive Insights Into The Global Electric Aircraft Market With A Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample_request?id=8142&type=smp

Growth Driver Of The Electric Aircraft Market

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. Air passengers are opting for air travel due to its benefits, such as speed, increased international travel, and others. The electric aircraft reduces the cost of travel for passengers and contributes to the environment by being sustainable.

Make Your Report Purchase Here And Explore The Whole Industry's Data As Well:
https://www.thebusinessresearchcompany.com/report/electric-aircraft-global-market-report

Who Are The Leading Competitors In The Electric Aircraft Market Share?

Key players in the market include Airbus Yuneec Holding Limited, The Boeing Company, Yuneec International Co. Ltd., Lilium GmbH, Safran SA, Bye Aerospace Inc., Raytheon Company, Honeywell International Inc., Rolls-Royce Holding plc, Aerospace Limited, Zodiac Aerospace SA, Electric Aircraft Corporation, ACS-Itaipu Sora-E, Aero Electric Aircraft Corp., Airspace Experience Technologies LLC, Alisport Silent Club GmbH, Ampaire Inc., Ametek Inc., BAE Systems plc, Beta Technologies Inc., Blackbird Aero, Cessna Aircraft company, DigiSky SkySpark, Electravia SARL, Elroy Air Technologies Inc., Eviation Aircraft Ltd., Flight Design General Aviation GmbH, Flightstar Aircraft Services LLC, Harbour Air Seaplanes, Heart Aerospace AB, Joby Aviation Inc., Lange Aviation GmbH, Pipistrel d.o.o Ajdovscina, RTX Corporation, Siemens AG, Vertical Aerospace Ltd., Guangzhou Xiaopeng Motors Tech. Ltd.

What Are The Dominant Trends In Electric Aircraft Market Growth?

Technological advancements are a key trend in the electric aircraft market. Major companies operating in the market are coming up with novel technologies for enabling longer routes and gaining a competitive edge in the market.
How Is The Global Electric Aircraft Market Segmented?
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

Geographical Insights: North America Leading The Electric Aircraft Market

North America was the largest region in the electric aircraft market in 2023. The regions covered in the electric aircraft global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Electric Aircraft Market Definition
The electric aircraft refers 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.

Electric Aircraft Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global electric aircraft market report covering trends, opportunities, strategies, and more

The Electric Aircraft Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on electric aircraft market size, electric aircraft market drivers and trends, electric aircraft market major players, electric aircraft competitors' revenues, electric aircraft market positioning, and market growth across geographies. The electric aircraft global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:

Firefighting Aircraft Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/firefighting-aircraft-global-market-report

Aircraft Actuator Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aircraft-actuator-global-market-report

Aircraft Hydraulic System Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aircraft-hydraulic-system-global-market-report

What Does the Business Research Company Do?

The Business Research Company publishes over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package, and much more.
Our flagship product, the Global Market Model is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.