By 2030, the Electric Aircraft Market is Expected to Gain US $27.7 Billion

The market for electric aircraft is expected to reach USD 27.7 billion by 2030, at a CAGR of 14.8% over the forecast period, and is segmented by platform (regional transport aircraft, business jets, light & ultralight aircraft), type, system (batteries, electric motors, aerostructures, avionics, software), technology, application, and region.

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The usage of electric aircraft for freight applications and various airborne mission-specific activities, as well as the deployment of aircraft for urban air mobility, are the primary factors driving the growth of this market.

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The goal of AIRBUS SE has always been to provide zero-emission flights. Airbus created CriCri, the first four-engine, all-electric aircraft in the world, in 2010. Since then, the business has advanced the electrification of flying significantly. In 2015, the twin-propeller, all-electric E-fan aircraft successfully crossed the English Channel. In order to ensure safety and great performance, its eVTOL demonstrator projects, Vahana and CityAirbus, have successfully completed countless hours of exhaustive flight testing. Zephyr, the first solar-powered High Altitude Platform Station, was also successfully developed by it. Its endurance gives it the potential to fly continuously for several months at a time at a height of about 70,000 feet, above the weather and regular air traffic.

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A global technology company called ELBIT SYSTEMS LTD is active in many different projects all over the world. The business creates and provides a range of airborne, land-based, and naval systems and solutions for use in commercial aviation, homeland security, and defense applications. Unmanned aircraft systems are designed using decades of operational experience, and there are many military and security forces throughout the world using them. The UAS is the backbone of the Israel Defense Forces (IDF). World-class UAS performance and highly productive operating yields are produced by Elbit Systems' considerable knowledge and innovative approach to all facets of UAS development, production, fielding, and support.

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For enterprises, consumers, and government organizations, AEROVIRONMENT, INC. creates, develops, produces, and manages a variety of goods and services. The Unmanned Aircraft Systems (UAS) segment of the business, which the company operates through, is primarily responsible for the design, development, manufacture, support, and use of UAS and tactical missile systems that offer situational awareness, multi-band communications, force protection, and other mission effects. The corporation primarily provides UAS, tactical missile systems, and related services to US Department of Defense agencies (DoD). The business offers sophisticated, multi-domain robotic systems, including tactical missile systems and small- and medium-sized unmanned aircraft systems.

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Possibilities include using electric aircraft for logistics.

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The logistics industry has been working to achieve zero-emission logistics because it is concerned about the emissions produced by cargo flights. In order to lower their carbon impact, logistics industry stakeholders are investing in electric means of transportation. As a result, the use of all-electric aircraft as a means of transportation in logistics creates new opportunities for electric aircraft producers. Logistics are transported by cargo or freight aircraft, which can be flown by commercial passengers, cargo airlines, private citizens, or national armed forces. According to Statista, the amount of air freight carried worldwide rose sharply in recent years and would total 55.9 million metric tons by the year 2020. The growth of e-commerce is likely to lead to an increase in the global volume.

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Developing batteries with higher energy densities is a challenge.

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The low energy density of batteries is one of the main obstacles long-haul electric aircraft manufacturers must overcome. Watt-hours per kilogram (Wh/kg) are typically used to express the energy density for aircraft propulsion. The energy density of current lithium-ion batteries is about 250 Wh/kg, which is significantly less than the 12,000 Wh/kg energy density offered by regular petroleum or jet fuel. Due to the fact that traditional fossil fuels are around 14 times more energy-rich than battery-powered alternatives, all-electric long-haul commercial aircraft are still a long way off from being a reality.

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To achieve the range of distances covered by fossil fuels, aircraft would therefore need electric batteries that weigh 30 times more than their present fuel intake. To make commercial flights entirely electric, airplane makers must overcome this significant obstacle. Using modern technology like lithium-sulfur batteries, the energy density can reach 500 Wh/kg or 600 Wh/kg. Batteries for all-electric commercial airplanes, according to some industry analysts, won't be readily available until the late 2030s or early 2040s. Building batteries big enough to electrify the medium and long-range flights that make up the majority of commercial aviation would take a lot of time, which is a tremendous problem for producers of electric aircraft.

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Recently Occurring Events

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• DHL Express aimed to create the first electric air transport network when it placed an order for 12 electric cargo planes from startup Eviation in August 2021.

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• Archer Aviation Inc. stated in August 2021 that it will collaborate with REEF to create ideas for urban takeoff and landing sites. Archer's ideas for creating vertiports in crowded metropolitan locations integrate nicely with REEF's network. Archer intends to set up business in areas that are close to busy city hubs so that those areas can take full use of the company's proposed urban air transportation network.

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• Lilium GmbH joined forces with CUSTOMCELLS, a German producer of lithium-ion battery cells customized for individual customers, in July 2021. One of Lilium's main suppliers, CUSTOMCELLS, will produce lithium-ion batteries at scale for the all-electric 7-Seater Lilium Jet. Porsche AG is among its international aviation, automotive, and military clients.