EVTOL Aircraft Market Size & Trends | Global Analysis 2022

Muthyala06 Apr, 2023Business

The global evtol aircraft market size was valued at USD 5,361.8 million in 2021 and is poised to grow at a significant CAGR of 13.5% during the forecast period 2022-28. The increased CO2 emissions are driving up the need for green energy. CO2 emissions have grown owing to population growth, according to the EIA's (Energy Information Administration) International Energy Report 2021. According to the Air Transport Air Group (ATAG), worldwide aviation emits around 2% CO2. According to ATAG's most recent announcement, a long-term climate change objective of cutting CO2 emissions in half by 2050 has been established. Electric, hybrid, and hydrogen aircraft research and development are intended to aid in the transition from fossil fuel to sustainable aviation fuel. Thus, leading to eVTOL aircraft market growth.