USD 10.84 billion
Report ID:
SQMIG20A2049 |
Region:
Global |
Published Date: April, 2025
Pages:
157
|Tables:
172
|Figures:
79
Electric Aircraft Market size was valued at USD 10.84 billion in 2023 and is poised to grow from USD 12.83 billion in 2024 to USD 49.57 billion by 2032, growing at a CAGR of 18.4% during the forecast period (2025-2032).
In recent times, the demand for electric aircraft is increasing because of the increasing popularity of eco-friendly aircraft and the various government initiatives to assist electric aviation. The market is also growing due to the rising demand for electric commercial aircraft and the development of fixed-wing aircraft. Furthermore, factors like increasing environmental concerns, technological development in batteries & electric propulsion systems, and rising popularity of short-range regional routes are also propelling the market growth. Lately, many governments are also making efforts to minimize overall carbon footprint and operational expenses of aviation sector, leading to expansion of the electric aircraft market. Many prominent companies worldwide are also developing electric aircraft due to its increasing demand. Another factor augmenting the growth of the global electric aircraft market is technological advancements in the aviation sector. The aircraft are being manufactured with various autonomous technologies. These aircraft are also being utilized in the military and defense industry, expanding the growth of electric aircraft market.
Market snapshot - 2025-2032
Global Market Size
USD 10.84 billion
Largest Segment
Fastest Growth
Growth Rate
18.4% CAGR
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Global Electric Aircraft Market is segmented by Type, Platform, System, Technology, Application and region. Based on Type, the market is segmented into Fixed Wing, Rotary Wing and Hybrid Wing. Based on Platform, the market is segmented into Regional Transport Aircraft, Business Jets and Light & Ultralight Aircraft (General Aircraft, Trainer Aircraft, UAVs, Advanced Air Mobility). Based on System, the market is segmented into Propulsion System, Avionics, Battery, Electric Motor and Others. Based on Technology, the market is segmented into Battery Electric Aircraft, Hybrid Electric Aircraft and Hydrogen Fuel Cell Aircraft. Based on Application, the market is segmented into Commercial, Military, Cargo and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Based on type, the global electric aircraft market is segmented into fixed wings, rotary wing, and hybrid wing. The fixed wing is dominating the market with maximum share. The fixed-wing aircraft is a type of airplane that has smooth aerodynamic design and fixed wings. It has many variants like commercial airliners, business jets, and military airplane. Furthermore, the high demand for fixed-wing aircraft in the electric aircraft market is primarily due to its versatility compared to other platforms, longer range, and payload restriction. This is because they restrict their reach and functions. Moreover, the sector is also shifting towards electric propulsion and several key manufacturers are working on the electrification of aircraft. They are doing this to accomplish their zero emission targets. Therefore, these factors are increasing the demand for fixed wings, positively influencing the electric aircraft market.
The rotary wing segment is witnessing the fastest growth in the global electric aircraft market. This is because the rotary wing electric aircraft uses electric motors powered by batteries for generating lift and thrust. The most outstanding feature of the wings are their ability for vertical takeoff and landing (VTOL). This characteristic makes them ideal for urban air mobility situations, working as air taxis for shirt urban journeys. Furthermore, they are also now being used beyond urban environments, as they serve several other purposes like emergency response and search & rescue missions. These aircraft are also used in vital situations like surveillance activities and military operations. Electric propulsion reduces environmental impact by decreasing emissions. It also has a noiseless functional profile, mitigating concerns related to noise pollution. The constant advancement in technology, particularly in battery efficiency, is increasing the operational abilities and flexibility of rotary wing electric aircraft.
Based on the system, the global electric aircraft market is segmented into electric motors, batteries, avionics, aerostructures, and others. Electric motors dominate the market with the largest revenue share. Electric motors have the ability to transform electrical energy stored in the batteries into mechanical power. This segment is growing rapidly due to the advantages offered by electric motors. These benefits include high performance ability and minimized operational expenses. Electric motors are also more effective in nature compared to conventional motors. The constant development and innovations on these electric motors are crucial for improving the performance and efficiency of electric aircraft.
The batteries segment is the fastest growing in the global electric aircraft market. The aircraft batteries utilize two types of materials that are common in nature. These two kinds of materials also nickel cadmium and lead acid batteries. These are advanced batteries embedded with many features like massive capability to store energy and vase range of sizes. Furthermore, these batteries also have long shelf life. The demand for batteries is also increasing because these are high-energy-density batteries that can offer sufficient power to aircraft. Furthermore, these batteries also have a high power-to-weight ratio, which is important for efficiency, focusing on the requirement for lightweight but robust batteries. Features like fast charging abilities to reduce downtime are also improving the batteries' operational efficiency. These factors are increasing the demand for batteries in the electric aircraft market.
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Based on region, North America is leading the electric vehicle market by innovating and adopting the aerospace sector. The region has a prosperous setting that consists of aerospace corporations, innovative startups, and renowned research facilities, boosting the technological development in the sector. Furthermore, regulatory structures supervised by the Federal Aviation Administration (FAA) also offer an ideal setting for testing, certification, and commercialization of electric aircraft. Such approaches are improving safety standards and encouraging investors and stakeholders in the region to invest in electric aircraft. North America's high investment climate even supports their positions, appealing substantial funding from venture capital, government grants, and company initiatives. These investments are boosting R&D and infrastructure developments, leading to the growth of the market.
Based on region, Europe is the fastest growing region in the electric aircraft market. The is because of the strong presence of prominent aerospace organizations like Airbus, Siemens, and Volvo Copter. They also have a progressing setting for startups and research facilities. The region has also made substantial progress in sustainable aviation due to advanced abilities and supportive regulatory structures. The government is also committed towards funding research and development in electric aviation. Its prime example is the European Union's Clean Sky initiative and the European Commission's Horizon 2020 frameworks. This has also encouraged many cross-border partnerships, leading to several technological innovations. These factors are helping in the expansion of the electric aircraft market in this region.
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Increasing Environmental Concerns
Constant Technological Advancements
Lack of Skilled Resources
Restrictions of Electric Aircraft Batteries
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Prominent players in the electric aircraft market are boosting research and development, forming strategic partnerships, and developing product portfolios to remain competitive. Many aerospace manufacturers like Boeing, Airbus, and Lockhead Martin are investing massively in electric propulsion systems and innovative power distribution management systems. Furthermore, these manufacturers are partnering with electrical power organizations to improve the design and development of electric propulsion concepts.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global electric aircraft market is going through a major shift. This is mainly due to the minimization of carbon footprint by the aviation sector, advancement of peripheral electrical and semiconductor technologies, and rising demand for short haul domestic travel. These factors are positively influencing the electric aircraft market and contributing to its growth. Furthermore, along with battery manufacturers in the automotive and storage sector, aerospace companies are also investing in the advancement of aircraft battery technology, propelling the market growth. These factors are massively influencing the development and growth of the electric aircraft market.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 10.84 billion |
Market size value in 2032 | USD 49.57 billion |
Growth Rate | 18.4% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Electric Aircraft Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Aircraft Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Aircraft Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Aircraft Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Electric Aircraft Market size was valued at USD 10.6 Billion in 2023 and is poised to grow from USD 12.72 Billion in 2024 to USD 54.49 Billion by 2032, growing at a CAGR of 20% during the forecast period (2025-2032).
Prominent players in the electric aircraft market are boosting research and development, forming strategic partnerships, and developing product portfolios to remain competitive. Many aerospace manufacturers like Boeing, Airbus, and Lockhead Martin are investing massively in electric propulsion systems and innovative power distribution management systems. Furthermore, these manufacturers are partnering with electrical power organizations to improve the design and development of electric propulsion concepts. 'Airbus SE (France) ', 'Elbit Systems Ltd. (Israel) ', 'AeroVironment, Inc. (US) ', 'Eve Air Mobility (US) ', 'Ehang Holdings Ltd. (China) ', 'Israel Aerospace Industries (Israel) ', 'Eviation Aircraft Inc. (US) ', 'Joby Aviation, Inc. (US) ', 'Archer Aviation Inc. (US) ', 'SZ DJI Technology Co., Ltd. (China) ', 'Yuneec International (China) ', 'Vertical Aerospace (UK) ', 'Heart Aerospace (Sweden) '
Concerns related to the environment are increasing due to climate changes and carbon emissions are constantly increasing due to which the aviation sector is under immense pressure to reduce environmental impact. The electric aircraft is emerging as a promising solution to this difficulty. Compared to conventional fuel-driven planes, these aircraft depend on electric motors and batteries to accomplish emissions-free flight. This is making them an eco-friendly option.
More opportunities are the increasing electric aircraft market, especially with the increasing infrastructure that supports electric aviation. As the airports and urban centers are developing charging stations and required facilities it is enhancing the operational abilities of electric aircraft. Organizations that are investing in or collaborating with infrastructure developers are benefiting from this growth.
Based on region, North America is leading the electric vehicle market by innovating and adopting the aerospace sector. The region has a prosperous setting that consists of aerospace corporations, innovative startups, and renowned research facilities, boosting the technological development in the sector. Furthermore, regulatory structures supervised by the Federal Aviation Administration (FAA) also offer an ideal setting for testing, certification, and commercialization of electric aircraft. Such approaches are improving safety standards and encouraging investors and stakeholders in the region to invest in electric aircraft. North America’s high investment climate even supports their positions, appealing substantial funding from venture capital, government grants, and company initiatives. These investments are boosting R&D and infrastructure developments, leading to the growth of the market.
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Report ID: SQMIG20A2049
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