eVTOL Aircraft Market size is estimated to be valued at USD 5,361.8 Million in 2021 and is poised to grow at a significant CAGR of 13.5% over 2022-2028. eVTOL aircraft refer to as electric vertical take-off and landing. This is a system that deals in autonomous electric aircraft which offer enhanced services in the name of safety and comfort. Also, they help in producing less noise, therefore, less noise pollution. The eVtol aircraft market is gearing up on its operational efficiency with a motive to enhance customer experience by providing flexibility and convenience. Also, it helps in fast travel. These are electric aircraft and perform concise functions with a good speed. Based on Lift Technology the market is being segmented in to vectored thrust, multirotor, lift plus cruise. Among these vectored thrust segment anticipated to grow at significant CAGR over the forecast years owing to the rising demand for military aircraft is a significant element contributing to the expansion of the TVC system. AIRBUS published its order, deliveries, and operation status till October 2017. AIRBUS received 1,948 orders for military aircraft, and the total number of deliverers was 1,527, with 1,212 military aircraft filters in operation. The main advantage of deploying a TVC system in military aviation is improving its maneuverability. Furthermore, the technology provides shorter take-off and landing runs and a larger flying envelope. As a result, these factors are projected to propel the TVC segment throughout the forecast period. Increasing Traffic Congestion and need for smarter transportation to fuel growth, and rising investment from different sectors in eVTOL to augment market growth are a few factors driving the industry’s growth over the forecasting period.
In June 2021. Halo, a Directional Aviation brand developed by the alignment of Associated Aircraft Group (AAG) in the United States, has placed an order for 200 four-passenger eVTOL air taxis with Eve Urban Air Mobility. The aircraft will be delivered beginning in 2026.