The electrification of aircraft has been a major topic of interest for the automotive industry—the transition to fully electric vehicles (EVs) has many automakers, such as Honda, Toyota, and Hyundai, considering the possibility of electrifying all forms of transportation, including aircraft. According to the research firm MarketsandMarkets, the eVTOL market is expected to reach a value of US$30.8bn by 2030, a CAGR of 15.3.% from 2021. The segment took a hit from COVID-19, suffering supply chain disruptions and the closure of research and development facilities. The headwinds don’t stop there: cost, aircraft certification, and battery development remain significant challenges.
Dr David Wyatt, Senior Technology Analyst at market research company IDTechX, discusses these topics in greater detail and provides further insight into the eVTOL industry.