DUBLIN--(BUSINESS WIRE)--Nov 21, 2022--
The "North America EVTOL Aircraft Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Lift Technology, Propulsion Type, Application, and Operation Mode" report has been added to ResearchAndMarkets.com's offering.
The North America eVTOL aircraft market is expected to grow from US$ 184.82 million in 2024 to US$ 674.41 million by 2028; it is estimated to grow at a CAGR of 38.2% from 2024 to 2028.
The aviation industry is one of the fastest-growing sources of the greenhouse gas emissions, driving global climate change. On January 11, 2021, the Environmental Protection Agency (EPA) issued a greenhouse gas (GHG) emissions standard for aircraft operating North America to control their carbon emissions.
In addition, in November 2021, EPA filed a litigation that formulated the commercial aircraft greenhouse gas (GHG) emission standards, which EPA promoted in early 2021. The development of electric propulsion-based eVTOL aircraft helps mitigate the environmental impact in terms of noise and pollutant emissions.
Thus, government regulations and policies for reducing emissions drive the demand for electric propulsion-based eVTOL aircraft. Initiatives from key players and startups are increasing across the North America. The startup will launch operations in 2024. As battery technology are improving over the years, eVTOL is becoming sustainable. eVTOL aircraft can fly for longer ranges and at higher speeds. Electric propulsion-based eVTOL can move into intra-city and inter-city aviation.
The investments from key players are also growing. For instance, in January 2022, the ePlane Company, an eVTOL aircraft startup company, raised US$ 5 million in a Pre-Series A funding round led by Speciale Invest and Micelio. The investment was made to make unmanned air taxis.
Moreover, the increasing developments in the electric propulsion-based UAVs are also expected to boost the eVTOL aircraft during the forecast period. Also, the vendors across this market are initially focusing on the development of fully electric propulsion based eVTOL aircraft.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America eVTOL aircraft market . The North America eVTOL aircraft market is expected to grow at a good CAGR during the forecast period.
North America eVTOL aircraft market Segmentation
Key Industry Dynamics
Market Drivers
Market Restraints
Market Opportunities
Market Trends
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/qlzjnv
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KEYWORD: NORTH AMERICA
INDUSTRY KEYWORD: AIR TRANSPORT AEROSPACE MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/21/2022 06:11 AM/DISC: 11/21/2022 06:11 AM
http://www.businesswire.com/news/home/20221121005443/en