Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Global Commercial Electric Aircraft Market by Platform (Regional Transport Aircraft, Business Jets), Range (<200 Km, 200-500 Km, >500 Km), Power (100-500 kW, >500 kW) and Region (North America, Europe, Asia Pacific, Rest of the World) - Forecast to 2035" report has been added to ResearchAndMarkets.com's offering.
The global commercial electric aircraft market is expected to be USD 97 million in 2026 to USD 692 million in 2031 and is projected to reach USD 1,467 million by 2035, at a CAGR of 20.7% from 2031 to 2035. The commercial electric aircraft (CEA) market represents a rapidly evolving landscape poised to revolutionize air travel. Driven by sustainability goals, technological advancements, and evolving consumer preferences, this market offers significant growth potential. The fully electric technology promises quieter, cleaner, and potentially more cost-effective air travel.
Several prominent factors act as catalysts for CEA adoption. Stringent environmental regulations and emissions reduction targets set by governments and airlines propel the shift towards electrification. Advancements in battery technology, offering greater energy density and extended range, unlock new possibilities for longer journeys. Additionally, growing investor interest and partnerships between aerospace industries and technology startups accelerate innovation and market momentum.
Based on platform, the regional transport aircraft segment is estimated to to grow with the highest CAGR in the forecast period
Based on Platform, commercial electric aircraft market has been segmented into regional transport aircraft and business jets. This growth trajectory is a convergence of factors, including escalating environmental concerns, advancements in electric propulsion technology, and evolving consumer preferences for sustainable travel options. Regional transport aircraft play a pivotal role in connecting smaller cities and towns, and the transition to electric propulsion within this segment promises significant reductions in carbon emissions and operational costs.
Furthermore, as battery technology continues to evolve and electric aircraft capabilities mature, airlines are increasingly inclined to adopt electric regional transport aircraft to meet both regulatory mandates and consumer demand for eco-friendly travel solutions. Consequently, stakeholders across the aviation industry are strategically aligning their efforts to capitalize on the opportunities presented by the expanding market for electric regional transport jets.
Based on range, 200-500 Km segment is estimated to grow with the highest CAGR in the forecast period
The 200-500 km segment is projected to grow the most for the 2031 to 2035 period. This growth trend is driven by several key factors, including the increasing demand for sustainable transportation options for short to medium-haul routes, technological advancements in electric propulsion systems enabling enhanced performance and efficiency, and regulatory incentives favoring the adoption of electric aircraft.
Airlines and operators are increasingly recognizing the potential of electric aircraft to offer cost-effective and environmentally friendly solutions for routes within the 200-500 km range, thereby driving investment and innovation in this segment. As battery technology continues to advance, extending flight ranges and reducing charging times, the market for electric aircraft in the 200-500 km segment is expected to experience significant expansion, attracting both established aerospace manufacturers and emerging startups seeking to capitalize on this growing market opportunity.
Based on Power, the >500 kW segment is estimated to have the highest CAGR in the forecast period
The >500 kW segment, characterized by its higher power output, is forecasted to have the highest CAGR by power within the commercial electric aircraft market from 2031 to 2035. This growth trajectory is influenced by several key factors driving the adoption of electric propulsion systems in larger aircraft categories. Firstly, advancements in battery technology and electric motor efficiency are enablers, allowing the development of electric aircraft with greater power outputs exceeding 500 kW.
These technological advancements are essential for enhancing the performance and range capabilities of electric aircraft, making them increasingly viable for larger commercial applications. Additionally, the growing emphasis on sustainability and environmental regulations is compelling airlines and operators to seek cleaner and more efficient alternatives to traditional fossil fuel-powered aircraft, thereby driving demand for electric propulsion solutions in the >500 kW segment.
Based on regions, Asia-Pacific is estimated to have the highest CAGR in the forecast period
The Asia-Pacific region is expected to witness the highest CAGR in the commercial electric aircraft market from 2031 to 2035. Several factors contribute to this anticipated growth trajectory. Firstly, the Asia-Pacific region is experiencing rapid economic growth and urbanization, leading to increased demand for air transportation. As countries in the region strive to address environmental challenges, there is a growing emphasis on adopting sustainable aviation solutions, including commercial electric aircraft.
Additionally, government initiatives and investments in clean energy and transportation infrastructure are driving the development and deployment of electric aircraft in the region. Furthermore, the presence of key emerging markets such as China, India, and Southeast Asian countries offers significant growth opportunities for commercial electric aircraft manufacturers and operators. With favorable market conditions, technological advancements, and supportive government policies, the Asia-Pacific region is emerging as a leading hub for the commercial electric aircraft market, experiencing growth in the coming years.
Research Coverage
This market study covers the commercial electric aircraft market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on platform, range, power and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Major companies profiled in the report include Heart Aerospace (Sweden), Thales (France), Wright Electric Inc. (UK), Eviation (US), magniX (UK), Joby Aviation (US), Electric Aviation Group (France), Embraer (Brazil), Lilium (Germany), Vertical Aerospace (UK), Archer Aviation Inc. (US), among others.
Premium Insights
- Increasing Demand for Sustainable Aircraft and Technological Advancements to Drive Market
- Business Jets Segment to Have Largest Market Share in 2031
- 200-500 Km Segment to Register Highest CAGR During Forecast Period
- Canada to be Fastest-Growing Market Between 2031 and 2035
Market Dynamics
- Drivers
- Growing Environmental Sustainability Initiatives
- Rising Advancements in Powertrains
- Increasing Regional Routes and Investments
- Restraints
- Cybersecurity and Connectivity Risks
- Increasing Airspace Congestion
- Competition from Alternative Fuels
- Opportunities
- Growing Adoption of Commercial Electric Aircraft in Emerging Economies
- Infrastructure Development for Electric Aviation
- Challenges
- High Initial Costs
- Maintaining Airline Profitability and Favorable Public Perception
- Limited Regulatory Framework
Technology Trends
- Advancements in Battery Technology
- Electric Propulsion and Powertrain Systems
- Aerostructure and Aerodynamics Design
- Advanced Avionics and Flight Control Systems
Impact of Megatrends
- Digitalization and Connectivity
- Artificial Intelligence and Machine Learning
Companies Profiled in the Report
- Heart Aerospace
- Eviation
- Lilium
- Wright Electric Inc.
- Archer Aviation Inc.
- Embraer
- Vaeridion GmbH
- Scylax GmbH
- Joby Aviation
- Vertical Aerospace
- Wisk Aero LLC
- Overair, Inc.
- Supernal, LLC
- Electric Aviation Group
- Costruzioni Aeronautiche Tecnam S.p.A.
- Magnix
- Safran
- Honeywell International Inc.
- H55
- Evolito Ltd.
- Bae Systems
- Kite Magnetics Pty. Ltd.
- Nidec Motor Corporation
- Thales
- Leonardo S.p.A.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 192 |
| Forecast Period | 2031-2035 |
| Estimated Market Value (USD) in 2031 | $692 Million |
| Forecasted Market Value (USD) by 2035 | $1467 Million |
| Compound Annual Growth Rate | 20.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ih7ja
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