Global Electric Aircraft Market Forecast to Reach USD 19.5 Billion by 2032 at 19.8% CAGR, Says Stratview Research
Why It MattersThe forecast signals sustained investment momentum toward eVTOL and hybrid-electric propulsion, positioning urban air mobility and light-aircraft segments as near-term commercial priorities over traditional platforms.
The global electric aircraft market is projected to reach USD 19.5 billion by 2032, growing at a compound annual growth rate of 19.8% during the 2026–2032 forecast period, according to Stratview Research. The market covers aircraft using electric propulsion systems powered by batteries, fuel cells, or hybrid-electric powertrains, with growth driven by advances in electric motors, energy storage, and hybrid powertrains alongside expanding urban and regional air mobility demand led by eVTOL development.
Among platform types, light and ultralight aircraft are expected to remain the dominant segment, as their lower power requirements suit current electric propulsion capabilities. VTOL is projected to lead by technology type, supported by rapid eVTOL development, while aerostructures are expected to retain the top position among system categories due to the importance of weight reduction in electric aircraft design.
Regionally, North America is forecast to remain the largest market, supported by an established aerospace ecosystem and early-mover activity in advanced air mobility, while Asia-Pacific is expected to be the fastest-growing region, driven by partnerships targeting electric air-taxi services and eVTOL commercialization. The report also notes that NASA and GE Aerospace demonstrated a megawatt-class hybrid-electric engine on a Saab 340B aircraft, while Airbus has been evaluating hybrid-electric propulsion for its next-generation aircraft development.
