Rolls Royce. Aston Martin. Uber. Why is everyone investing millions of dollars in Fixed-wing VTOL?
Fixed wing VTOL is a hybrid aircraft, which offers the best features of both fixed-wing aircraft and rotorcraft, i.e. it is fast, has high level of endurance and is also capable of vertical take-off and landing. This type of aircraft has a robust design and with its vertical landing and take-off capability, it has eliminated the need for long runways. This unique ability has opened avenues for different applications, increased the number of end users and is likely to expand the market significantly for them. According to a recent report published by the BIS Research, titled ‘Global Fixed-Wing VTOL Aircraft Market’ – End User Analysis and Forecast, which states that in 2017 the revenue was around $2009.6 million, which is expected to grow at a CAGR of 21.7% from a period of 2018 to 2028.
There are various applications such as commercial, military and law enforcement, wherein this aircraft can be deployed, and out of all the industries, military and defense is the most prominent end user of them. Oher than this different organizations in the aerospace & defense industry are working consistently to develop advanced and efficient version of fixed-wing VTOL aircraft. And, one of them is the electric version. The successful implementation electric version of the aircraft will make it more cost-effective and will also possibly enhance the endurance of the aircraft. As mentioned earlier, the different stakeholders of this aircraft are segregated into are law enforcement, commercial and military. Wherein, military was the biggest user of this category of aircraft in the year 2017, but it is expected that the commercial segment might take over market as the lead buyer in the coming years.
Based on the research conducted and the trend analyses of the past few years experts across the world have identified fixed-wing VTOL as a key technology for the future. In 2017, only two countries were manufacturing this aircraft i.e. Japan & U.S, however, it is expected that other countries in the world will soon be catching up with them. North America will be leading the market followed by Asia-Pacific, Europe and Rest of the World.
BIS Research has conducted an extensive market research and the market intelligence report published by the company aims to provide an in-depth analysis of the key development strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry. For further queries, please write to us at [email protected] or call us at: +1-50-404-8135 and request a sample report.