Research Reveals Strong Growth in the EVTOL Market

New research from Revolution Aero, which monitors the electric vertical take-off and landing (eVTOL) sector, reveals the industry has secured over 4,600 orders.  It estimates that just over 1,000 of these were made pre-2021, around 1,950 in 2021 and there has been approximately 1,650 orders this year so far. 

Revolution Aero estimates the eVTOL companies EVE, EHANG and Vertical have the largest order books to-date with over 1,250, 1,200 and 500 respectively.

Revolution Aero’s analysis reveals that organizations from 19 countries have made orders for eVTOLs. Over 1,940 orders have come from organizations based in the US, followed, by 1,000 eVTOLs scheduled to be delivered to Canada.  Over 600 are destined for Europe and over 370 to Asia.

Of the eVTOL orders made so far, airlines have accounted for over 1,200, followed by medical operators (around 1,000 orders) lessors (over 700 orders) and helicopter operators (over 500 orders).  Organizations from the business aviation, car manufacturing, seaplane and package delivery sectors have also placed orders.

Revolution Aero’s analysis reveals deliveries are expected to be made from 2024 onwards.  Where delivery dates have been provided, the bulk are for 2026. 

Alasdair Whyte, co-founder, Revolution Aero said: “The global eVTOL market is estimated to be worth around $8.5 billion by 2025, and this is expected to grow to $30.8 billion by 2030.

“Our research shows strong growth in orders, but these are all with between 16 and 20 OEMs.  Globally, there are over 400 different electric VTOL concepts from some 240 plus companies and innovators, so many are still waiting for their first orders.  As the global economic environment worsens and investors become increasingly impatient for progress, we expect to see more eVTOL concepts close as they struggle to turn their vision into reality.”