Commercial Electric Aircraft Market worth $1,467 million by 2035 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 22, 2024 /PRNewswire/ -- The Commercial Electric Aircraft Market is estimated 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 according to a new report by MarketsandMarkets™. The commercial electric aircraft market, forecasted globally to 2035, includes a landscape driven by technological advancements and sustainability concerns. With a CAGR of 20.7%, drivers include advancements in battery technology, regulatory mandates for emissions reduction, and shifting consumer preferences towards eco-friendly travel options. Major players in this market include Heart Aerospace (Sweden), Eviation (Israel), Lilium (Germany), Wright Electric Inc. (US), Archer Aviation Inc. (US) are some of the leading companies in the commercial electric aircraft market.

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Browse in-depth TOC on "Commercial Electric Aircraft Market" 

257 – Tables
48 – Figures
210 – Pages

Commercial Electric Aircraft Market Report Scope:

Based on the platform, the business jets segment by platform is estimated to have the highest market share in 2031.

Based on the platform, the Business Jet segment is estimated to have the highest market share for Commercial Electric Aircraft Market from 2031 to 2035. This trend is propelled by the increasing demand for sustainable and efficient air travel solutions among high-net-worth individuals, corporate executives, and charter operators. Electric propulsion systems offer distinct advantages for business jets, including reduced operating costs, lower environmental impact, and quieter operations, aligning with the preferences of customers. Technological advancements in battery technology and electric motor efficiency are enabling fully commercial electric business jets to achieve the performance metrics required for long-range travel, further enhancing their appeal in the market. Key players in this segment are investing in the development of electric-powered business jets to meet the growing demand. As a result, the business jet segment is poised to dominate the commercial electric aircraft market, capturing the highest market share by 2031 and shaping the future of executive air travel.

Based on the range, <200 km segment is estimated to have the highest market share in 2031.

In 2031, the <200 km segment in the Commercial Electric Aircraft Market, is estimated to have the largest market share. The < 200 km segment is positioned for remarkable growth in the commercial electric aircraft market, projected to capture the highest share by 2031. This segment caters to short-distance travel needs, including regional commuting. Fully Electric aircraft within this range offer significant advantages such as reduced emissions, and lower operating costs. With technological advancements driving improvements in battery efficiency and electric motor performance, electric aircraft are increasingly viable for short-range travel applications. Key stakeholders, including aircraft manufacturers, and regional airlines, are actively investing in the development of electric aircraft tailored to the < 200 km segment. As demand for efficient and sustainable transportation solutions continues to rise, this segment is positioned to lead the growth of the commercial electric aircraft market, with a dominant share expected by 2031.

Based on the power, the 100-500 kW segment is estimated to have the highest market share in 2031.

The 100-500 kW power segment is poised to drive substantial growth in the commercial electric aircraft market, projected to achieve the highest market share by 2031. This segment encompasses a diverse range of aircraft types, including regional jets and small airliners, which are well-suited for short to medium-haul routes. Electric propulsion systems within this power range offer a compelling combination of performance, efficiency, and sustainability, making them increasingly attractive to airlines, operators, and passengers alike. Technological advancements in battery energy density and electric motor efficiency are enabling electric aircraft in this segment to achieve the necessary range and payload capacity for commercial operations. Key players in this segment, including startups, are actively developing fully electric aircraft tailored to the needs of the 100-500 kW power range, driving market growth and shaping the future of electric aviation. As a result, the 100-500 kW power segment is forecasted to capture the highest market share in the commercial electric aircraft market by 2031, signaling a significant shift towards electrification in the aviation industry.

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Based on regions, the North America market is estimated to have the highest market share during 2031.

The North America region is expected to have the highest market share in the Commercial Electric Aircraft Industry during the forecast period. This growth trajectory is fueled by several factors, including the region's strong aerospace industry, technological innovation, supportive regulatory environment, and increasing emphasis on sustainability. North America boasts a robust ecosystem of aerospace manufacturers, research institutions, and startups dedicated to advancing electric aviation technology. Additionally, government initiatives and incentives aimed at promoting clean energy and reducing carbon emissions are driving investment in fully electric aircraft development and deployment.  As a result, North America is expected to emerge as a dominant force in the commercial electric aircraft market by 2035, leveraging its technological expertise, infrastructure, and market demand to propel the industry forward.

Key Players

Prominent companies in the Commercial Electric Aircraft Companies include Heart Aerospace (Sweden), Eviation (Israel), Lilium (Germany), Wright Electric Inc. (US), Archer Aviation Inc. (US) are some of the leading companies in the commercial electric aircraft market. These industry leaders, headquartered in various countries, drive innovation and excellence in Commercial Electric Aircrafts globally.

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