Electric Aircraft Market Size to Grow at 168% CAGR till 2026, Says a New Study by Stratview Research

Electric Aircraft Market: Highlights Electric Aircraft Market: Highlights Electric aircraft is powered by electricity via one or more electric motors which drive the propellers. In this type of aircraft, electricity is supplied through a variety of methods, the most common being batteries or solar cells. The electric aircraft industry is currently at the introduction stage of the industry life cycle and is expected to witness its growth stage during 2021-2030. In the year 2020, the...

Electric Aircraft Market: Highlights

Electric aircraft is powered by electricity via one or more electric motors which drive the propellers. In this type of aircraft, electricity is supplied through a variety of methods, the most common being batteries or solar cells. The electric aircraft industry is currently at the introduction stage of the industry life cycle and is expected to witness its growth stage during 2021-2030.

In the year 2020, the electric aircraft market witnessed a relatively negligible impact of the Covid-19 pandemic as the industry is still at the introduction stage. As per Stratview Research, the electric aircraft market is likely to grow at a lucrative CAGR of 168% over the next five years, owing to the ongoing efforts of governments and companies towards introducing Urban Air Mobility across countries/regions.

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Based on the aircraft type, the electric aircraft market is segmented as ultralight aircraft and light aircraft. As of 2020, ultralight aircraft type was the only electric aircraft commercially available in the industry. It is projected to increase at a CAGR of more than 100% during 2020-2026, driven by increasing focus towards sustainable means of air travel.

Based on the technology type, all-electric aircraft is expected to remain the dominant technology type in the market during the forecast period. Higher focus towards developing 100% emission-free and noise-free air mobility is the primary driver for the higher growth and adoption of all-electric aircraft as compared to hybrid aircraft.

Based on the range type, less than 500 km range holds the major share of the electric aircraft market and is expected to be the faster-growing segment during the forecast periodas well. Currently, all-electric aircraft are operating at less than 500 Km range with limited battery storage capacity and energy density.

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In terms of regions, Asia-Pacific currently accounts for a majority share, primarily driven by EHang's AAV sales in China. Europe was another major market driven by Pipistrel electric aircraft sales in France, the UK, the Netherlands, Norway, and Switzerland. However, North America is expected to expand at the highest rate, driven by a strong roadmap for establishing UAM networks across different cities.

Following are the key players in the electric aircraft market:

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

This report studies the electric aircraft market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Electric Aircraft Market, by Aircraft Type

Electric Aircraft Market, by Technology Type

Electric Aircraft Market, by Range Type

Electric Aircraft Market, by Region

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