eVTOL Market is Forecasted to Reach US$ 3.2 Billion in 2040, Says Stratview Research

/EIN News/ -- Detroit, March 28, 2025 (GLOBE NEWSWIRE) -- The global eVTOL market is projected to witness a growth rate of 28.4% annually from 2025 to 2040, with an anticipated size of US$ 3.2 billion by 2040, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global eVTOL market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

https://www.stratviewresearch.com/Request-Sample/3264/evtol-market.html#form

Report Highlights

Market Size in 2040 (billion US$)	3.2
Growth (CAGR)	28.4% during 2025-2040
Forecast Period	2025-2040
Trend Period	2019-2023
Base Year	2024
Number of Segments Covered	4
Number of Tables & Graphs	100+
Country-Level Market Assessment	20

Segment Insights on the eVTOL Market:

The global eVTOL market is segmented based on configuration type, application type, seating capacity type, and region.

Based on configuration type – The market is segmented into Vectored Thrust, Lift + Cruise, and Wingless/Multirotor. With EHang deliveries, the Multirotor segment dominated the market during the trend period. It is well suited for short-range operations in cities where they can bypass traffic jams. However, it is expected to lose some share to longer-range Vectored and Lift + Cruise eVTOLs in the future. In 2023, Joby Aviation made its highly anticipated first delivery of the vectored eVTOL, S4, to the US Air Force. In 2024, Autoflight's Prosperity, a Lift + Cruise eVTOL, marked its first delivery.

Based on application type - The market is segmented into passenger, cargo, and other applications. Among these, the passenger segment dominates and is expected to maintain its dominance throughout the study period. Once all cargo eVTOL programs are introduced, the segment is expected to quickly gain momentum and record significant growth during the forecast period. Other applications include emergency medical services and firefighting applications. The segment, compared to the other two, is expected to expand slowly.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for eVTOL during the forecast period. This growth outlook is majorly attributed to the following: 

• The US and China are the frontrunners regarding eVTOL orders. China is set to dominate the eVTOL units market, with companies planning to expand beyond its borders to develop Asia's "low-altitude economy." This government-backed initiative has led to the emergence of over 30 eVTOL-related startups in the past year.
• The value market is expected to be dominated by North America, owing to deliveries from leading eVTOL manufacturers in the US, such as Joby, Archer, and Beta, as they fulfill their large order books.
• Presently, Europe is slightly behind in overall eVTOL development. However, it is poised to experience the highest growth in the long run. In the rest of the world, Brazil and the UAE have placed a high number of eVTOL orders.

eVTOL Market Drivers:

Some of the key drivers listed in the report are given below.

• The rising urban population and traffic congestion,
• The government's push for sustainable transportation to minimize carbon footprint, expected EIS (Entry-Into-Service), and pre-orders of upcoming eVTOL programs.

Top 10 Companies in the eVTOL Market:

Major OEMs in the market are striving to achieve type certification for their eVTOL aircraft. After completing certification, they collaborate with established aircraft and automotive giants to accelerate commercial manufacturing. Stratview Research has identified the following companies as the top market players:

• EHang
• Joby Aviation, Inc.
• Archer Aviation
• Autoflight
• Eve Air Mobility
• Xpeng AeroHT
• Vertical Aerospace Ltd.
• Elroy Air
• Lilium GmbH
• Volant Aerotec

What Deliverables Will You Get in This Report?

Key questions this report answers	Relevant contents in the report
How big is the sales opportunity?	In-depth analysis of the eVTOL Market
How lucrative is the future?	Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?	Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?	Market segment analysis and forecast
Who are the top players and their market positioning?	Competitive landscape analysis, Market share analysis
How complex is the business environment?	Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?	Drivers & challenges
Will I get the information on my specific requirements?	10% free customization

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Electric Aircraft Market

• Civil UAS Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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