Electric Aircraft Market Size, Share, Growth Analysis, By Platform(Regional transport aircraft, business jets, light & ultralight aircraft), By System(Electric motors, batteries, avionics, aerostructures), By Type(Fixed wing, rotary wing, and hybrid wing), By Technology(CTOL, STOL, VTOL), By Application(Civil, military, and others), By Range(Less than 500 km, more than 500km), By Region - Industry Forecast 2024-2031

Global Electric Aircraft Market size was valued at USD 8.8 Billion in 2022 and is poised to grow from USD 10.6 Billion in 2023 to USD 45.41 Billion by 2031, growing at a CAGR of 20 % in the forecast period (2024-2031).  

In recent times, the demand for electric aircraft is increasing because of the increasing popularity of eco-friendly aircraft and the various government initiatives to assist electric aviation. The market is also growing due to the rising demand for electric commercial aircraft and the development of fixed-wing aircraft. Furthermore, factors like increasing environmental concerns, technological development in batteries & electric propulsion systems, and rising popularity of short-range regional routes are also propelling the market growth. Lately, many governments are also making efforts to minimize overall carbon footprint and operational expenses of aviation sector, leading to expansion of the electric aircraft market. Many prominent companies worldwide are also developing electric aircraft due to its increasing demand. Another factor augmenting the growth of the global electric aircraft market is technological advancements in the aviation sector. The aircraft are being manufactured with various autonomous technologies. These aircraft are also being utilized in the military and defense industry, expanding the growth of electric aircraft market.