The Future of Urban Air Mobility: eVTOL Market Takes Flight
eVTOL Aircraft Market Growth & Trends The global electric Vertical Takeoff and Landing (eVTOL) aircraft market was valued at approximately USD 1.35 billion in 2023 and is projected to expand at a remarkable compound annual growth rate (CAGR) of 54.9% from 2024 to 2030, according to industry research. This exponential growth is being fueled by multiple technological, regulatory, and societal factors that are reshaping the future of urban and regional mobility. A major catalyst for market expansion is the rapid advancement in battery technologies, which has significantly enhanced the operational capabilities of eVTOL aircraft. With improvements leading to lighter, more powerful batteries that charge faster, these aircraft are now capable of flying longer distances with reduced downtimes. This development is crucial in making eVTOLs more viable for urban air mobility (UAM), enabling their application in areas such as air taxis, emergency services, and cargo delivery systems...