Governmental Regulations to Help Commercialize Global eVTOL Aircraft Market
Electric VTOL (eVTOL) aircraft have experienced dynamic technological advancements over the last decade. The technological advancement in terms of operating range, components, aircraft type, capabilities, and size, largely pave the way for various growth opportunities for the defense and commercial sectors. eVTOL aircraft are undergoing several technological changes that result in a reduction of weight, size, and cost, and enhanced battery life. Moreover, the concepts of eVTOL aircraft have reached a level of maturity, where the quiet and efficient piloted and optionally piloted eVTOL aircraft are to conduct the on-demand and scheduled operation.
With road travel in large megacities becoming increasingly congested, people commuting daily are looking for a safer and better modes of transportation to work and other destinations. Road infrastructure in megacities is reaching toward its maximum capacity and it is extremely expensive to expand as well. These problems have created a need for advancements in transportation. One such advancement is the eVTOL aircraft. The operation of these aircraft requires development of advanced infrastructure such as landing and take-off pads on top of buildings, as well as system architecture, battery operations, charging technology, software development, operations through ground and air operation, and certifications, among others. The manufacturers are continuously taking initiatives to develop various innovative infrastructural concepts, such as better connectivity, better tracking systems, and vertiports with charging stations to enable the operations of eVTOL.
Governmental regulations are expected to play an important role in commercializing global eVTOL aircraft market. For operating eVTOL aircraft, there are various restrictions imposed by the aviation department in various countries. Each country has its own rules for flight operations of eVTOL aircraft. For instance, Federal Aviation Administration (FAA) is the regulatory body for American Civil Aviation. The authority creates regulations for the use of aircraft in commercial applications. To operate eVTOL aircraft for commercial applications, the operator has to follow a certification process to certify its eVTOL aircraft for usage by the people. The legal and regulatory framework for eVTOL aircraft needs to be developed quickly for these emerging requirements from the operators.
The key drivers that are expected to create demand for the eVTOL aircraft market include:
§ growing demand of eVTOL aircraft for commercial applications
§ increasing need for efficient transportation and logistics
§ smart city initiatives
§ runway-less platforms
§ increasing environmental concerns and energy impacts
The following are some of the key challenges faced by the global eVTOL aircraft market:
§ Government regulatory framework
§ Infrastructural challenges
§ Privacy and safety concerns
§ Technological constraints
§ Certifications
§ Social acceptance
As per the developments and investments in the global eVTOL aircraft market, prototypes have been created, and various test and trials are being conducted upon them. All the companies operating in the eVTOL aircraft market are at different stages which includes initial design, scaled prototype, flight testing, in service, and defunct. However, after the successful completion of tests and trials, it is expected to take 2-3 years for regulations to be in place and for eVTOL aircraft to become fully operational. The eVTOL aircraft market is expected to be commercially available from 2025 onward.