eVTOL Aircraft Industry to Flourish in the Near Future Due To Growing Developments in the eVTOL Technology

The notion of an air-taxi is creating a massive amount of buzz across the world. Various startups have made huge investments in venture capital funding due to which the race to invent novel developments in the air-taxi technology remains highly competitive. There are various businesses contributing to the new future of urban transportation that is eVTOL (electric vertical take-off and landing aircraft) aircraft, a novel type of technology that can help us move faster, without producing noise and with self-directed aerospace features. Airbus, an international forerunner in the aerospace market believes that the eVTOL aircraft industry will one day outshine its current $70 billion business with many different ongoing developments in the industry.

Why are eVTOL Aircrafts in Demand?

There is, at present, a race to develop the first air-taxi provision using the eVTOL technology. After the invention of consumer drones and batteries with enhanced capacity, an eVTOL having the potential to carry passengers has now become possible. eVTOL aircrafts are gaining much popularity and demand these days due to their advantages over helicopters such as low noise pollution, enhanced security, electric power usage, and many others.

What is Trending in the eVTOL Aircraft Industry?

Numerous businesses are at present focused on inventing different types of the technologies to empower electric air-taxi service. Moreover, many aircraft manufacturers are heavily investing both time and capital in the development of air-taxis.

In September 2019, Daimler, a German multinational automotive corporation, has invested in a startup of all-electric air-taxi called “Volocopter,” the manufacturer of the first manned, fully electric and safe VTOLs in the world. Moreover, Porsche, a well-known a German automobile manufacturer, has also declared that it is building an eVTOL with Boeing, an American multinational firm that designs, manufactures, and provides rotorcraft, airplanes, rockets, telecommunications equipment, satellites, and missiles across the world.

Moreover, aircraft manufacturers such as Airbus have introduced a project to develop eVTOL aircrafts.  Also, a new solemn competitor, Archer has recently entered the race to develop eVTOL aircrafts. Archer is focused on restructuring the sector of urban air mobility and is keenly interested in aiding the people in urban areas to save time by developing quick transport means. Currently, Archer is working on developing a fully electric air-taxi that can take-off and land vertically and can convey four passengers for around 60 miles at a speed of nearly 150mph, using existing battery technologies. Archer also aims to offer enhanced passenger safety along with reduced noise pollution as compared to traditional helicopters.

In October 2020, Jaunt Air Mobility, an eVTOL aircraft inventor, has proclaimed the development of Access Skyways, a group of businesses that will work to offer knowledge about the formation of cutting-edge air mobility services worldwide. Early partners in this project are PRICE systems, a research and cost estimation company, and PS&S, an award-winning "one-stop shop” of architecture and engineering excellence.

Furthermore, as per the information revealed by Starr Ginn, the campaign lead at NASA, in October 2020, NASA has received a budget increase for its Advanced Air Mobility (AAM) National Campaign, during a recent discussion held by the Vertical Flight Society (VFS). Moreover, NASA has introduced an online platform to streamline the activities of its AAM ecosystem working groups with the goal of developing a more streamlined and efficient resource for the AAM ecosystem.

Furthermore, in June 2018, Dassault Systèmes, a large software company that develops software for 3D product design, simulation, manufacturing and more, has proclaimed that Vertical Aerospace,  a UK-based aircraft company focused on revolutionizing how people fly by making air travel personal, on-demand, and carbon-free, is using the 3DEXPERIENCE platform on the cloud to develop their third eVTOL aircraft.

In addition, in October 2020, WatFly, a Canadian startup, has introduced a single-seat eVTOL aircraft called “Atlas”. Atlas is intended for recreational purpose and the startup plans to begin selling them by 2021.

The Way Ahead for the eVTOL Aircrafts Industry

As per a report by research Dive, the global eVTOL aircraft industry  is expected to witness enormous growth and surpass $4,222.4 million by 2033, by growing at a healthy CAGR of 29.6%. The industry will be observing enormous growth mainly because of an increase in the worldwide urban population as well as rising the traffic congestion. As a final point, eVTOL vehicles are being ushered in by a blend of new electrical and autonomous technologies. This coming generation of ever cleaner and noiseless aircrafts will not only initiate a revolution in personal transportation but also can alter the structure and design of cities in the near future.