New Report: Electric Aviation Powerlist 2024
🔥 Covering opportunities, challenges, and 130+ companies propelling electric aviation forward. (Plus: 8 innovators to look out for!)
(TL;DR) Our new deep dive on electric aviation is out now. You can download and read the full report for free here.
A 2021 report by NASA heralded a transformative vision for the future of flight.Â
Their Regional Air Mobility (RAM) report forecasted a future with aircraft so silent and discreet, complemented by services so accessible and beneficial, that communities would eagerly lobby for their introduction.Â
It painted a picture of local airports, previously unnoticed, becoming pivotal in revolutionising travel dynamics.
According to NASA, the catalyst behind these significant shifts is the advent of innovative aircraft, predominantly electric-powered, promising substantial reductions in environmental and noise pollution.
This development is particularly pertinent as emissions, noise, and elevated operational costs have led to a decline in regional air services in the United States and other countries. For example, Heart Aerospace, a Swedish electric aircraft pioneer, wants to change this. Heart CEO Anders Forslund often puts up a slide at conferences showcasing the decline of regional routes in the USA since the mid-1990s. He also showcases the routes his company aims to resurrect. (For an in-depth look at Heart Aerospace, do check out our book Sustainability in the Air.)
Advocates like Forslund argue that electric aircraft, such as Heart’s hybrid-electric ES-30, could herald a regional aviation renaissance, as the NASA report suggested. However, the transition from vision to reality is fraught with challenges.Â
Consider this: By the start of 2024, only one electric aircraft, the very compact two-seater Pipistrel Velis Electro, had received commercial certification. As such, the sizeable leap from this to larger models, such as Heart’s 30-seat aircraft – let alone the 100+ seater Wright Spirit from Wright Electric – poses significant questions.Â
Moreover, the operational viability of these innovations also depends on the availability of renewable energy and the establishment of a comprehensive charging infrastructure.
As a result, our new report aims to
Provide an in-depth market overview of the electric aviation landscape.
Highlight the opportunities and challenges facing electric aviation.
Explore the scalability and sustainability of electric air taxis (eVTOLs).
Look at the main barriers to adopting electric aircraft – from battery capacity to possible inertia from legacy players.
Spotlight electric aviation companies to watch, along with a comprehensive list of 130+ industry players.
Executive Summary
Electric and hybrid-electric aircraft promise substantial reductions in carbon emissions, noise pollution and operational costs and a transformative impact on regional air mobility.Â
The electric aircraft market is projected to experience exponential growth, with estimates valuing it at about $40.3 billion by 2030. Significant investments and orders support this optimism.
Electric aviation holds the potential for decarbonising short-feeder flights, easing hub congestion, reviving dormant airports, and improving connectivity in remote and developing regions.Â
Much of the attention in the electric aircraft space is taken up by eVTOLs (electric vertical take-off and landing aircraft), commonly known as electric air taxis. These have attracted major investments and are seen as a solution to urban mobility challenges. At the same time, their practicality and community acceptance remain debated.
The electric aircraft sector faces major challenges, not least of which is the current limitations of battery technology. High capital requirements for new aircraft development and infrastructure needs must also be overcome.
Despite technological advancements and potential benefits, the aviation industry’s reliance on conventional technologies and fuels persists. Embracing electric aviation may require regulatory incentives and a shift in industry mindset towards ‘true zero’ alternative propulsion systems.
For clarity, by ‘electric’, we mean aircraft either powered purely by electric batteries or hybrid-electric aircraft where a battery and conventional engine work side by side. Hydrogen-electric aircraft, where hydrogen fuel cells power an electric motor, are covered separately in our Hydrogen Aviation Powerlist.
We have also published an insightful SAF market map and report that you might enjoy (see all our previous reports here).
To learn more about innovators in the electric, hybrid-electric, hydrogen and SAF spaces, check out our new book, Sustainability in the Air, as well as SimpliFlying CEO Shashank Nigam’s podcast of the same name.