Electric Aircraft Market: Growth, Challenges, and Opportunities Ahead by 2031 | EHang Holdings Ltd., Duxion

The increase in environmental concerns, technological advancement in batteries and electric propulsion systems, rise in demand for short range regional routes.

PORTLAND, OR, US, February 22, 2024 /EINPresswire.com/ — Electric Aircraft Market by Takeoff Type (Conventional Takeoff and Landing, Short Takeoff and Landing, Vertical Takeoff and Landing), by Component (Batteries, Electric Motors, Aerostructures, Avionics, Others), by End Use (Commercial, Military), by Platform (Fixed Wing, Rotary Wing): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global electric aircraft industry generated $8.5 billion in 2021, and is anticipated to generate $23.5 billion by 2031, witnessing a CAGR of 10.9% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/5502

The fixed wing segment is expected to experience significant growth during the forecast period. This segment includes revenue generated through sales and manufacturing of electric aircrafts that are integrated in fixed wing commercial as well as military aircraft. Aggressive research and development by global players on commercial front to reach carbon neutrality level and reduce carbon footprint of aviation industry support the segment growth. The aim is projected to accelerate innovations within the fixed wing segment, generating novel business potential.

Prime determinants of growth

The increase in environmental concerns, technological advancement in batteries and electric propulsion systems, rise in demand for short range regional routes, and surge in efforts to reduce overall carbon footprint and operational cost of aviation industry drive the growth of the global electric aircraft market. However, several challenges such as the requirement of large and bulky batteries to generate required power, the need to charge the aircraft frequently before scheduled flight path, and limited infrastructure capabilities restrict the market growth. Moreover, the rise in efforts by major companies across the globe to develop electric aircraft capabilities, supported by their research and development budgets, is presenting new opportunities in the coming years.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/electric-aircraft-market/purchase-options

Both primary (single use) and secondary (rechargeable) batteries can be utilized in aviation applications. Any battery intended for use as a power source for devices installed on or regularly transported on aircraft must not only be secure but also ideally have a high energy density, be lightweight, dependable, require little upkeep, and function effectively over a broad range of environmental conditions. Battery manufacturers continue to develop new technologies in an effort to realize these ideals, but frequent compromises in these non-safety objectives are required, and in some cases, the safety implications of new designs have been overlooked, especially in light of the rapidly expanding use of Lithium batteries. Research and development toward increase in overall operating capacity of battery support the business opportunities.

Based on component, the aerostructures segment held the highest market share in 2021, accounting for nearly one-third of the global electric aircraft market. Aerostructures are one of the most crucial components of electric aircraft. The efficiency of electric propulsion system coupled with aerodynamics of an aircraft will play a major role in deciding the flight length of an aircraft. However, the batteries segment is projected to manifest the highest CAGR of 12.6% from 2022 to 2031, and is estimated to maintain its leadership status throughout the forecast period. New design concepts and innovation in manufacturing technologies to manufacture aircrafts with improved aerodynamics is one of the major factors supporting the business segment growth.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

𝐥𝐢𝐥𝐢𝐮𝐦, 𝐀𝐞𝐫𝐨𝐕𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭, 𝐈𝐧𝐜., 𝐄𝐇𝐚𝐧𝐠 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬 𝐋𝐭𝐝., 𝐃𝐮𝐱𝐢𝐨𝐧, 𝐄𝐥𝐛𝐢𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐋𝐭𝐝., 𝐏𝐈𝐏𝐈𝐒𝐓𝐑𝐄𝐋 𝐝.𝐨.𝐨., 𝐑𝐨𝐥𝐥𝐬 𝐑𝐨𝐲𝐜𝐞 𝐏𝐥𝐜, 𝐉𝐨𝐛𝐲 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧, 𝐕𝐎𝐋𝐎𝐂𝐎𝐏𝐓𝐄𝐑 𝐆𝐌𝐁𝐇, 𝐄𝐦𝐛𝐫𝐚𝐞𝐫 𝐒𝐀, 𝐖𝐫𝐢𝐠𝐡𝐭 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜, 𝐈𝐧𝐜., 𝐄𝐯𝐢𝐚𝐭𝐢𝐨𝐧, 𝐙𝐞𝐫𝐨𝐀𝐯𝐢𝐚, 𝐀𝐢𝐫𝐛𝐮𝐬, 𝐀𝐦𝐩𝐚𝐢𝐫𝐞 𝐈𝐧𝐜.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/5502

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global electric aircraft market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 12.3% from 2022 to 2031, owing to presence of significant number of companies in the region. Technological advancement in North America is intended to ensure secure, cost-effective, and efficient channels of electric aircraft manufacturing processes.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By takeoff type, the conventional takeoff and landing segment is anticipated to exhibit significant growth in the near future.

By component, the batteries segment is anticipated to exhibit significant growth in the near future.

By end use, the commercial segment is anticipated to exhibit significant growth in the near future.

By platform, the fixed-wing segment is anticipated to exhibit significant growth in the near future.

By region, North America is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Aircraft Electrification Market – https://www.globenewswire.com/en/news-release/2023/05/05/2662272/0/en/Aircraft-Electrification-Market-Predicted-to-Reach-21-8-Billion-Globally-by-2032-at-13-5-CAGR-Allied-Market-Research.html

Aircraft Manufacturing Market – https://www.globenewswire.com/news-release/2023/04/14/2647226/0/en/Aircraft-Manufacturing-Market-to-Garner-476-4-Billion-by-2031-Allied-Market-Research.html

Aircraft Health Monitoring System Market – https://www.globenewswire.com/en/news-release/2022/06/22/2466995/0/en/Aircraft-Health-Monitoring-System-Market-to-Garner-7-27-Billion-by-2030-Allied-Market-Research.html

Aircraft Fuel Systems Market – https://www.prnewswire.com/news-releases/aircraft-fuel-systems-market-to-reach-15-7-billion-globally-by-2031-at-6-5-cagr-allied-market-research-301867967.html

David Correa
Allied Market Research
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