Report : Europe EVTOL Aircraft Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Lift Technology (Multirotor, Lift Plus Cruise, Vectored Thrust, and Others), Propulsion Type (Hybrid, Fully Electric, and Electric Hydrogen), Application (Air Taxi, Cargo Transport, Last Mile Delivery, Critical Missions, Inspection, Surveying and Mapping, and Others), and Operation Mode (Piloted, Optionally Piloted, and Autonomous)
At 35.8% CAGR, the Europe EVTOL Aircraft Market is speculated to be worth US$ 667.38 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe eVTOL aircraft market was valued at US$ 196.37 million in 2024 and is expected to reach US$ 667.38 million by 2028, registering an annual growth rate of 38.2% from 2024 to 2028. Adoption of air taxis due to growth of urban air mobility and rise of electric propulsion-based eVTOL aircraft.
The eVTOL aircraft provide ease in operations, fly like an airplane, and have minimal to zero noise pollution. Therefore, the aircraft are gaining traction in e-commerce platforms for package delivery. The battery-operated eVTOL aircraft helps reduce carbon footprint and costs. With the rise of e-commerce, consumer preferences have become increasingly important in the formerly business-oriented parcel-delivery market. Large e-commerce players and various start-ups have identified last-mile services as a key differentiator. Consumer expectations have been a big driver for same-day services. As per the Invesp Conversion Rate Optimization in 2020, more than half of online shoppers aged 18-34 expects the same-day delivery, and more than 60% of them are comfortable in paying extra to have their packages delivered the same day. Thus, such growth prospects in demand for same day delivery is anticipated to drive the demand for last mile delivery which is propelling the eVTOL aircraft market growth. Packaging and delivery providers are increasingly investing in the adoption of eVTOL aircraft. For instance, in April 2021, United Parcel Service announced that it had agreed to purchase 10 eVTOL aircraft from Beta Technologies. The company initiated the deal to test the eVTOLs to use in its Express Air delivery network, focusing on small and medium markets. The movement of freight could become increasingly attractive for the eVTOL sector. During the COVID-19 pandemic, EHang’s eVTOLs transported medical supplies to a local hospital in the Guangxi province. Amazon, UPS, DHL, and many other global logistic companies are focusing on the development programs for urban delivery eVTOLs. Thus, the rising demand for last-mile delivery is driving the development of eVTOL aircrafts Europe for last-mile delivery application. This is expected to drive the market during the forecast period.
On the contrary, certification and qualification challenges for market vendors hurdles the growth of Europe eVTOL aircraft market.
Based on lift technology, the Europe eVTOL aircraft market is divided into multirotor, lift plus cruise, vectored thrust, and others. The lift plus cruise segment held 49.1% market share in 2024, amassing US$ 96.33 million. It is projected to garner US$ 313.08 million by 2028 to expand at 34.3% CAGR during 2024–2028.
Based on propulsion type, the Europe eVTOL aircraft market is categorized into hybrid, fully electric, and electric hydrogen. The fully electric segment held 79.4% market share in 2024, amassing US$ 155.95 million. It is projected to garner US$ 522.64 million by 2028 to expand at 35.3% CAGR during 2024–2028.
Based on application, the Europe eVTOL aircraft market is categorized into air taxi, cargo transport, last mile delivery, critical missions, inspection, surveying and mapping, and others. The air taxi segment held 73.7% market share in 2024, amassing US$ 144.73 million. It is projected to garner US$ 504.92 million by 2028 to expand at 36.7% CAGR during 2024–2028.
Based on operation mode, the Europe eVTOL aircraft market is categorized into piloted, optionally piloted, and autonomous. The piloted segment held 75.0% market share in 2024, amassing US$ 147.20 million. It is projected to garner US$ 514.47 million by 2028 to expand at 36.7% CAGR during 2024–2028
Based on country, the Europe eVTOL aircraft market has been categorised into the Germany, France, Italy, UK, Russia, and Rest of Europe. Our regional analysis states that Germany captured 32.1% market share in 2024. It was assessed at US$ 63.02 million in 2024 and is likely to hit US$ 244.93 million by 2028, exhibiting a CAGR of 40.4% during the forecast period.
Key players dominating the Europe eVTOL aircraft market are Airbus; Bell Textron Inc.; Boeing; Eve Air Mobility; Lilium GmBH; EHang; Pipistrel Group; Volocopter GmBH; Heart Aerospace; and Archer Aviation Inc among others.
- In Oct 2019, Porsche & Boeing Sign An Agreement To Work On “Premium” eVTOL Aircraft.
- In April 2022, Thales partners with Eve for eVTOL development.
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