Home > > Global Electric Aircraft Market Report
The Electric Aircraft market was valued at $2,136.3 Million in 2022, and is projected to reach $6,975.8 Million by 2032 growing at a CAGR of 12.66% from 2023 to 2032.There are several drivers for the electric aircraft market: Increasing concerns about climate change and carbon emissions: Electric aircraft emit zero or near-zero emissions, which makes them an attractive alternative to traditional aircraft. Government incentives and regulations: Governments around the world are offering incentives and implementing regulations to encourage the adoption of electric aircraft. Technological advancements: Improvements in battery technology and power density are making it possible to build electric aircraft that can fly longer distances. Cost: The cost of operating electric aircraft is typically lower than that of traditional aircraft, due to lower fuel costs and maintenance expenses. Noise reduction: Electric aircraft are much quieter than traditional aircraft, which makes them more suitable for use in urban areas. Some of the top companies in the electric aircraft market include: Zunum Aero: This company is developing a hybrid-electric aircraft for regional travel. Eviation: Eviation is working on the Alice, an all-electric aircraft for regional travel. AeroMobil: AeroMobil is developing a hybrid-electric aircraft for personal use. Joby Aviation: Joby Aviation is working on an all-electric aircraft for regional travel. Vertical Aerospace: This company is developing an all-electric aircraft for regional travel. In terms of recent developments, many of these companies are in the process of testing and developing prototypes, with the goal of bringing their products to market in the next few year