The global electric VTOL (eVTOL) aircraft market is estimated to reach $700.5 million in 2032 from $27.5 million in 2023, at a growth rate of 38.2% during the forecast period 2023-2032.

Electric vertical-take-off and landing (eVTOL) is a type of aircraft that is powered by stored electric energy to cruise, take-off, land, and hover. These aircraft use distributed electric propulsion technology and build with multiple motors for various functions as well as to increase efficiency and ensure safety. These aircraft use various concepts such as multi-rotors, fixed-wing, and tilt-wing that are backed by sensors, cameras, and even radar. It helps to open the possibilities of a new sustainable transportation system in urban areas without depending on the runways.