Commercial Electric Aircraft Market Size is Estimated to be USD 402.9 Billion by 2034; Growing Environmental Sustainability Initiatives Accelerates the Market Growth

Download Sample

Published Date: December 2024

Commercial electric aircraft market, which focusses on the creation of electric-powered aircraft, is a revolutionary development in aviation. Compared to conventional jet-fueled aircraft, these aircraft use electric propulsion systems, which drastically reduce greenhouse gas emissions, operating expenses, and noise pollution, further augmenting the commercial electric aircraft market growth.

Commercial Electric Aircraft Market Segmentation Analysis:

By Type	Urban Air Mobility (UAM) Vehicles, Regional Electric Aircraft, and Electric Vertical Takeoff and Landing (eVTOL) Aircraft
By Power	100 kW - 500 kW, 500 kW - 2 MW, and >2 MW
By Propulsion System	Battery Electric (BEV), Hybrid Electric (HEV), and Hydrogen Fuel Cell
By Application	Air Taxi, Cargo & Logistics, and Military & Defense

Commercial Electric Aircraft Market Report Highlights:

The commercial electric aircraft market share accounted for USD 73.99 Billion in 2024.
The market is estimated to be USD 402.9 Billion by 2034 and to register a CAGR of 20.5% during the forecast period.
Based on Type, the commercial electric aircraft market is being dominated by the electric vertical takeoff and landing (eVTOL) aircraft segment.
According to power, the 100 kW - 500 kW segment holds a large commercial electric aircraft market share globally.
Based on propulsion system, the battery electric (BEV) segment is rapidly boosting in the market.
According to application, the air taxi segment holds a large market share in the Commercial Electric Aircraft industry.
By Region, the market is expected to expand rapidly in the North American region.

Commercial Electric Aircraft Market Dynamics:

Growing Factor	Challenge Factor	Market Trend
Growing Demand for Short-Haul Flights	Battery Technology Limitations	Increased Investment in Electric Aviation

Commercial Electric Aircraft Market Key Highlights:

In April 2024, Archer Aviation, plans to begin trials of its electric air taxi in India next year, ahead of a planned commercial launch in 2026. U.S.-based Archer last year partnered with InterGlobe Enterprises, which backs India's top airline IndiGo, to launch the air taxis to help people avoid ground traffic in congested cities.

Future Prospects:

Future of Commercial Electric Aircraft

According to report by Amprius Technologies, in January 2023, According to United, the third-biggest airline in the U.S., electric aircraft will play a significant role in its future and might have a wide range of effects on commercial aviation. They intend to concentrate on regional service rather than switching to electric aircraft to replace large-capacity jets. Additionally, they are investigating local transportation using eVTOL technology.

Browse ∼60 market data tables and ∼35 figures through ∼140 slides and in-depth TOC on “Commercial Electric Aircraft Market, By Type (Urban Air Mobility (UAM) Vehicles, Regional Electric Aircraft, and Electric Vertical Takeoff and Landing (eVTOL) Aircraft), By Power (100 kW - 500 kW, 500 kW - 2 MW, and >2 MW), By Propulsion System (Battery Electric (BEV), Hybrid Electric (HEV), and Hydrogen Fuel Cell), By Application (Air Taxi, Cargo & Logistics, and Military & Defense), and By Region - Trends, Analysis, and Forecast till 2034”

For more insights into the Commercial Electric Aircraft market and its future trends, visit the link: https://www.prophecymarketinsights.com/market_insight/commercial-electric-aircraft-market-5271

Competitive Landscape of Commercial Electric Aircraft Market:

The prominent players operating in the commercial electric aircraft market include Joby Aviation, Archer Aviation Inc., Heart Aerospace, Vertical Aerospace, Leonardo S.p.A., Lilium, Wisk Aero LLC, Eviation, Wright Electric Inc., Electric Aviation Group, magniX, SCYLAX GmbH, Thales, Embraer, and Supernal, LLC.