Value Proposition: How Much Will the eVTOL Market Be Worth Around 2030?
It Depends on Who You Ask
As of March 2023, more than 950 companies (per the Vertical Flight Society’s World eVTOL Aircraft Directory) are developing eVTOLs. Everyone from Airbus and Archer to Eve Air Mobility, Joby Aviation, Lilium, Supernal, Volocopter, and more than 900 other enterprises are getting ready to power up a market worth… That’s the multi-billion dollar question and the prognosticators each have different answers.
The eVTOL numbers don’t lie but they do vary
In February 2024, FactMR projected the eVTOL market would experience a 21.5% CAGR (compound annual growth rate) through 2034. It projected the market then to be valued at US$2.959.9 billion.
In April 2023, Polaris Market Research reported the eVTOL market was valued at US$12.74 billion in 2023 and, using a CAGR of 13.83%, concluded this sector of the transportation would be worth US$41 billion by 2032.
Polaris research predicts an eVTOL market valued at US$41 billion by 2032.
[Graphic image copyright and courtesy Polaris Research)
Markets and Markets assessed the eVTOL market value at US$1.2 billion in 2023 and presumed a CAGR of 52% to predict an eVTOL market worth US$23.4 billion in 2032.
Markets and Markets predicts 52% CAGR for the eVTOL market by 2030.
[Graphic image courtesy and copyright Markets and Markets]
So, there you have it. The eVTOL market could be worth anywhere between US$11.5 billion and US$41 billion. Maybe.
Perhaps the best prediction is this: The eVTOL market will be worth more than it is now about a decade from now.
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