Emerging eVTOL Technology: Creating Growth Opportunities in the Urban Air Mobility Landscape

Emerging eVTOL Technology: Creating Growth Opportunities in the Urban Air Mobility Landscape

Feasibility Study of Operational Costs for eVTOL Aircraft versus Traditional ICE Aircraft

RELEASE DATE
17-Nov-2023
REGION
North America
Research Code: MH11-01-00-00-00
SKU: AE_2023_333
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Description

Urban air mobility (UAM), also known as advanced air mobility (AAM), is among the fastest-growing emerging industries in the mobility landscape. In 2018, approximately 100 electric vertical take-off and landing (eVTOL) aircraft concepts were registered with the Vertical Flight Society (VFS), and, as of late 2022, this number was in the region of approximately 700 concepts (about a 120% year-over-year [YoY] average growth). Although an emerging industry with recent explosive growth, there is still uncertainty surrounding the expected operational cost of UAM aircraft as well as MRO structure, certification, and regulation.

The MRO industry is well-established for traditional internal combustion engine (ICE) aircraft, with approximately $80 billion spent globally in 2022. However, due to the fundamental design differences in eVTOL versus ICE aircraft, this is a particular area of major growth opportunities in the emerging UAM space.

This study compares the maintenance, repair, and overhaul (MRO) elements of ICE and eVTOL aircraft, assessing the operational cost feasibility of eVTOL aircraft, and concluding with growth opportunities in the emerging eVTOL aircraft space. Owing to limited data on the operational costs of eVTOL aircraft and their composition, this study details the modeling approach to derive operational cost estimates.

Author: Shehroz Sayeed

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the UAM Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Context

Research Scope and Overview

UAM Key Component 1—Aircraft Types

UAM Key Component 1—Aircraft Types (continued)

UAM Key Component 2—Infrastructure

Key Industry Developments, 2023—Key Contracts, Mergers and Acquisitions, and Partnerships

UAM Aircraft Global Competitors

UAM and ICE Aircraft MRO Overview

ICE Aircraft Selection—Fixed Wing and Rotary Wing

UAM Aircraft Selection and Operating Cost Methodology for Analysis

MRO Cost—Fixed-wing Light Aircraft

Operational Cost Analysis—Fixed-wing Light Aircraft

MRO Cost—Rotary Wing (Helicopters)

Operational Cost Analysis—Rotary Wing (Helicopters)

MRO Cost—UAM Aircraft

Operational Cost Analysis—UAM Aircraft

Operational Cost Analysis—UAM Aircraft (continued)

Operational Cost Comparison Analysis—ICE and UAM Aircraft

Operational Cost Comparison Analysis—ICE and UAM Aircraft (continued)

Feasibility of UAM Aircraft Operation Assessment

Growth Drivers

Growth Restraints

Growth Opportunity 1: Aircraft MRO Providers Expanding Service Capabilities to Include UAM MRO Operations

Growth Opportunity 1: Aircraft MRO Providers Expanding Service Capabilities to Include UAM MRO Operations (continued)

Growth Opportunity 2: Battery Technology Providers Innovating to Meet Projected Demand for High-density Batteries in UAM

Growth Opportunity 2: Battery Technology Providers Innovating to Meet Projected Demand for High-density Batteries in UAM (continued)

Growth Opportunity 3: Aircraft and Subsystem OEMs Developing UAM Parts and Platforms through Transferability

Growth Opportunity 3: Aircraft and Subsystem OEMs Developing UAM Parts and Platforms through Transferability (continued)

List of Exhibits

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Related Research
Urban air mobility (UAM), also known as advanced air mobility (AAM), is among the fastest-growing emerging industries in the mobility landscape. In 2018, approximately 100 electric vertical take-off and landing (eVTOL) aircraft concepts were registered with the Vertical Flight Society (VFS), and, as of late 2022, this number was in the region of approximately 700 concepts (about a 120% year-over-year [YoY] average growth). Although an emerging industry with recent explosive growth, there is still uncertainty surrounding the expected operational cost of UAM aircraft as well as MRO structure, certification, and regulation. The MRO industry is well-established for traditional internal combustion engine (ICE) aircraft, with approximately $80 billion spent globally in 2022. However, due to the fundamental design differences in eVTOL versus ICE aircraft, this is a particular area of major growth opportunities in the emerging UAM space. This study compares the maintenance, repair, and overhaul (MRO) elements of ICE and eVTOL aircraft, assessing the operational cost feasibility of eVTOL aircraft, and concluding with growth opportunities in the emerging eVTOL aircraft space. Owing to limited data on the operational costs of eVTOL aircraft and their composition, this study details the modeling approach to derive operational cost estimates. Author: Shehroz Sayeed
More Information
Author Shehroz Sayeed
Industries Aerospace, Defence and Security
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Is Prebook No
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WIP Number MH11-01-00-00-00