Global Fixed-Wing VTOL Aircraft Market

Global Fixed-Wing VTOL Aircraft Market: Focus on Type and End-User- Analysis and Forecast from 2018 to 2028

According to BIS Research analysis, the global fixed-wing VTOL aircraft market generated $2,009.6 million in 2017 and is estimated to grow at a CAGR of 21.7% during 2018-2028.

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Published Year: 2018
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The global fixed-wing VTOL aircraft market is expected to witness significant growth over the forecast period 2018-2028 due to the rising demand across various end-users including commercial, military, and law enforcement. Fixed-wing VTOL aircraft have the capabilities of both fixed-wing aircraft and rotorcraft. These aircraft are able to takeoff and land vertically and then transit into a horizontal flight which eliminates the need for long runway infrastructure without compromising the speed and endurance. This high scale growth of the fixed-wing VTOL aircraft industry is subsequently influencing its market. Therefore, new advanced VTOL technologies are developed such as electric VTOL (eVTOL). The growing demand for the fixed-wing VTOL aircraft in defense applications, faster travel and runway-less platforms, and rising demand for UAVs in the agricultural sector are some of the key drivers for the growth of the global fixed-wing VOTL aircraft market. 

Moreover, emergence of More Electric Aircraft (MEA), increasing demand for VTOL aircraft in commercial applications, on-demand urban air transportation, growing importance of VTOL aircraft in cargo transportation, and increasing usage in humanitarian relief operations are some of the opportunities for the growth of the global fixed-wing VTOL aircraft market. There are mainly two types of fixed-wing VTOL aircraft: fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL UAVs. In addition to this, the market for the fixed-wing hybrid VTOL UAV is expected to have the highest growth rate during the forecast period 2018-2028 due to the extensive demand for VTOL UAV in commercial applications. Furthermore, the fixed-wing VTOL aircraft have been deployed by various end-users into multiple industries including commercial, military, and law enforcement. Until 2017, the fixed-wing VTOL manned aircraft was used only for military applications. However, now it is expected to have application in law enforcement as well as in the commercial industry. The military end-users acquired the most significant market share of the global fixed-wing hybrid VTOL UAVs in 2017; however, commercial end-users are expected to have the high growth rate during the forecast period, 2018-2028.

According to BIS Research analysis, the global fixed-wing VTOL aircraft market generated $2,009.6 million in 2017 and is estimated to grow at a CAGR of 21.7% during 2018-2028. North America dominated the global fixed-wing VTOL aircraft market in 2017 with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2028.

Following points provide a detailed description of the report content and the topics covered in the report:

  • This report identifies the global fixed-wing VTOL aircraft market under different segments such as type, end-user, and region.
  • It examines the prime supply-side factors, which affect the growth of the market, and the current and future trends, market drivers, restraints, and challenges prevalent in the global fixed-wing VTOL aircraft market.
  • The report also highlights the value chain of the industry with the primary focus on the technological roadmap.
  • Detailed competitive analysis has been included in this report which focuses on the ¬key market developments and strategies followed by the top players in the market. Additionally, the competitive benchmarking map has been included in the existing study which analyzes the competitive strength of the players in the global fixed-wing VTOL aircraft market.
  • The market for different types of the fixed-wing VTOL aircraft, such as fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL UAVs, has been estimated and analyzed. 
  • Different end-users of the fixed-wing VTOL aircraft, such as commercial, military, and law enforcement, have been estimated and analyzed in the report. 
  • The global fixed-wing VTOL aircraft market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest of the World.  
  • The global eVTOL aircraft market analysis has been provided in the report.
  • A detailed Porter’s Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the global fixed-wing VTOL aircraft market.
  • The study provides detailed analysis of the 15 key players in the global fixed-wing VTOL aircraft market including AeroVironment, Airbus, Arcturus UAV, Aurora Flight Sciences, BAE Systems, Boeing, Leonardo, Lockheed Martin, Israel Aerospace Industries, Textron Inc., ALTI UAS, Autel Robotics, Lilium, XTI Aircraft, and Kitty Hawk in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

TABLE OF CONTENT
Preface
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Growing Demand for Fixed-Wing VTOL Aircraft in Defense Applications
1.1.2 Runway-less Platforms
1.1.3 Increasing Demand for Fixed-Wing Hybrid VTOL UAVs in Agriculture
1.2 Market Challenges
1.2.1 Regulatory Challenges Associated with UAVs
1.2.2 Privacy & Safety Concerns with Fixed-Wing VTOL Aircraft
1.2.3 Infrastructural Challenges Associated with Flying Cars
1.3 Market Opportunities
1.3.1 Emergence of More Electric Aircraft (MEA)
1.3.2 Development of New Commercial Applications of Fixed-Wing VTOL Aircraft
1.3.3 On-Demand Urban Air Transportation
1.3.4 Growing Importance of Fixed-Wing VTOL Drones in Cargo Transportation
1.3.5 Increasing Usage in Humanitarian Relief Operations
2 Competitive Insights
2.1 Key Market Strategies and Developments
2.1.1 Partnerships, Agreements, and Contracts
2.1.2 Product Launches
2.1.3 Mergers and Acquisitions
2.1.4 Other Developments
2.2 Competitive Benchmarking Map
3 Industry Analysis
3.1 Evolution of VTOL Aircraft
3.2 Product Overview & Pricing Analysis
3.2.1 Engine Analysis: Fixed-Wing VTOL Aircraft Market
3.3 Startups & Investment Scenario
3.4 Regulatory Environment
3.4.1 Global Drone Regulatory Authorities by Country
3.4.2 Global Drone Regulations by Application
3.5 Industry Attractiveness (Porter’s Five Forces Analysis)
3.6 Value Chain Analysis
4 Global Fixed-Wing VTOL Aircraft Market, 2018-2028
4.1 Assumptions and Limitations
4.2 Market Overview
5 Global Fixed-Wing VTOL Aircraft Market by Type
5.1 Market Overview
5.2 Fixed-Wing VTOL Manned Aircraft
5.3 Fixed-Wing Hybrid VTOL UAV
6 Global Fixed-Wing VTOL Aircraft Market by End-User
6.1 Market Overview
6.2 Fixed-Wing VTOL Manned Aircraft Market by End-User
6.2.1 Military
6.3 Fixed-Wing Hybrid VTOL UAV Market by End-User
6.3.1 Commercial
6.3.2 Law-enforcement
6.3.3 Military
7 Global Fixed-Wing VTOL Aircraft Market by Region
7.1 Market Overview
7.2 Fixed-Wing VTOL Manned Aircraft Market by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia-Pacific
7.2.4 Rest of the World
7.3 Fixed-Wing Hybrid VTOL UAV Market by Region
7.3.1 North America
7.3.2 North America Fixed-Wing Hybrid VTOL UAV Market by End-User
7.3.3 North America Fixed-Wing Hybrid VTOL UAV Market by Country
7.3.3.1 U.S.
7.3.3.2 Rest of North America
7.4 Europe
7.4.1 Europe Fixed-Wing Hybrid VTOL UAV Market by End-User
7.4.2 Europe Fixed-Wing Hybrid VTOL UAV Market by Country
7.4.2.1 U.K
7.4.2.2 Germany
7.4.2.3 France
7.4.2.4 Rest of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market by End-User
7.5.2 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market by Country
7.5.2.1 China
7.5.2.2 Australia
7.5.2.3 India
7.5.2.4 South Korea
7.5.2.5 Rest of Asia-Pacific
7.6 Rest of the World
7.6.1 Rest of the World Fixed-Wing Hybrid VTOL UAV Market by End-User
8 Global electric VTOL (eVTOL) Aircraft Market
8.1 Market Overview
8.2 The Case of Uber: Future of Urban Air Mobility
9 Company Profile
9.1 Overview
9.2 AeroVironment
9.2.1 Company Overview
9.2.2 Products and Services
9.2.3 Financials
9.2.3.1 Overall Financials
9.2.3.2 Financial Summary
9.2.4 SWOT Analysis
9.3 Airbus Group SE
9.3.1 Company Overview
9.3.2 Products and Services
9.3.3 Financials
9.3.3.1 Overall Financials
9.3.3.2 Financial Summary
9.3.4 SWOT Analysis
9.4 ALTI UAS
9.4.1 Company Overview
9.4.2 Products and Services
9.4.3 SWOT Analysis
9.5 Arcturus UAV
9.5.1 Company Overview
9.5.2 Products and Services
9.5.3 SWOT Analysis
9.6 Aurora Flight Science
9.6.1 Company Overview
9.6.1 Product Offerings
9.6.2 SWOT Analysis
9.7 Autel Robotics
9.7.1 Company Overview
9.7.2 Product Offerings
9.7.3 SWOT Analysis
9.8 BAE Systems plc
9.8.1 Company Overview
9.8.2 Products & Services
9.8.3 Overall Financials
9.8.3.1 Financial Summary
9.8.4 SWOT Analysis
9.9 Boeing
9.9.1 Company Overview
9.9.2 Products and Services
9.9.3 Financials
9.9.3.1 Overall Financials
9.9.4 Financial Summary
9.9.5 SWOT Analysis
9.1 Israel Aerospace Industries (IAI)
9.10.1 Company Overview
9.10.2 Products and Services
9.10.3 Financials
9.10.3.1 Overall Financials
9.10.3.2 Financial Summary
9.10.4 SWOT Analysis
9.11 Kitty Hawk
9.11.1 Company Overview
9.11.2 Product Offerings
9.11.3 SWOT Analysis
9.12 Leonardo Group
9.12.1 Company Overview
9.12.2 Products and Services
9.12.3 Financials
9.12.3.1 Overall Financials
9.12.3.2 Financial Summary
9.12.4 SWOT Analysis
9.13 Lilium Aviation
9.13.1 Company Overview
9.13.2 Product Offerings
9.13.3 SWOT Analysis
9.14 Lockheed Martin Corporation
9.14.1 Company Overview
9.14.2 Products and Services
9.14.3 Financials
9.14.3.1 Overall Financials
9.14.3.2 Financial Summary
9.14.4 SWOT Analysis
9.15 Textron Inc.
9.15.1 Company Overview
9.15.2 Products and Services
9.15.3 Financials
9.15.3.1 Overall Financials
9.15.4 Financial Summary
9.15.5 SWOT Analysis
9.16 XTI Aircraft Company
9.16.1 Company Overview
9.16.2 Product Offerings
9.16.3 SWOT Analysis
9.17 Other Key Players
10 Scope & Research Methodology
10.1 Research Scope
10.2 Global Fixed-Wing VTOL Aircraft Market Research Methodology
11 Appendix
11.1 Related Reports
List of Tables
Table 1.1 Fixed-Wing Hybrid VTOL Drones for Cargo Applications
Table 2.1 Mergers and Acquisitions Adopted by the Key Market Players, 2015-2018
Table 3.1 Leading Manufacturers Product Offerings
Table 3.2 Key Investments, 2014-2018
Table 3.3 Drone Regulatory Authorities by Country
Table 3.4 Country-wise Drone Regulation by Application
Table 3.5 Analyzing Threat from New Entrants in Global Fixed-Wing VTOL Aircraft Market
Table 3.6 Analyzing Threat from Substitute Products in Global Fixed-Wing VTOL Aircraft Market
Table 3.7 Analyzing Bargaining Power of Suppliers in Global Fixed-Wing VTOL Aircraft Market
Table 3.8 Analyzing Bargaining Power of Buyers in Global Fixed-Wing VTOL Aircraft Market
Table 3.9 Analyzing Intensity of Competitive Rivalry in Global Fixed-Wing VTOL Aircraft Market
Table 5.1 Fixed-wing hybrid VTOL UAVs
Table 6.1 Global Fixed-Wing Hybrid VTOL UAV Market by End-User, 2017-2028 ($Million)
Table 7.1 Geographical Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028 ($Million)
Table 8.1 eVTOL Aircraft: Company & Products
Table 9.1 Other Key Players
List of Figures
Figure 1 Global Fixed-Wing VTOL Aircraft Market, 2017-2028
Figure 2 Global Fixed-Wing VTOL Aircraft Market by Type, 2017-2028 ($Million)
Figure 4 Global Fixed-Wing Hybrid VTOL UAVs Market by End-User, 2017-2028 ($Million)
Figure 5 Global Fixed-Wing VTOL Manned Aircraft Market by Region, 2028
Figure 6 Global Fixed-Wing Hybrid VTOL UAV Market by Country, 2028
Figure 1.1 Market Dynamics Snapshot
Figure 1.2 Impact Analysis on Market Drivers
Figure 1.3 Impact Analysis on Market Challenges
Figure 1.4 Impact Analysis on Market Opportunities
Figure 1.5 Benefits of Agricultural Fixed-Wing Hybrid VTOL UAV
Figure 2.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Figure 2.2 Percentage Share of Strategies Adopted by the Market Players, 2013-2018
Figure 2.3 Partnerships, Agreements and Contracts Adopted by Key Market Players, 2013-2018
Figure 2.4 Product Launches by the Key Market Players, 2014-2018
Figure 2.5 Mergers and Acquisitions Adopted by the Key Market Players, 2015-2018
Figure 2.6 Other Developments by the Key Market Players, 2013-2017
Figure 2.7 Competitive Benchmarking for Fixed-Wing VTOL and eVTOL Aircraft Market
Figure 3.1 Evolution of Global Fixed-Wing VTOL Aircraft
Figure 3.2 Pricing Analysis: Fixed-Wing VTOL Aircraft
Figure 3.3 Fixed-Wing VTOL Aircraft Engine Analysis, 2017
Figure 3.4 Porter’s Five Forces Analysis of Global Fixed-Wing VTOL Aircraft Industry
Figure 3.5 Threat from New Entrants
Figure 3.6 Threat from Substitute Products
Figure 3.7 Bargaining Power of Suppliers
Figure 3.8 Bargaining Power of Buyers
Figure 3.9 Intensity of Competitive Rivalry
Figure 3.10 Value Chain Analysis
Figure 4.1 Global Fixed-Wing VTOL Aircraft Market, 2017-2028
Figure 5.1 Classification of Global Fixed-Wing VTOL Aircraft Market by Type
Figure 5.2 Fixed-Wing Hybrid VTOL UAV Volume, 2017
Figure 5.3 Global Fixed-Wing Aircraft Market by Type, 2017-2028 ($Million)
Figure 5.4 Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 5.5 Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 6.1 Classification of Global Fixed-Wing VTOL Aircraft Market by End-User
Figure 6.2 Global Fixed-Wing VTOL Manned Aircraft Market by Military, 2017-2028
Figure 6.3 Global Fixed-Wing Hybrid VTOL UAV Market by End-User, 2017-2028 ($Million)
Figure 6.4 Global Fixed-Wing Hybrid VTOL UAV Market by Commercial End-User, 2017-2028
Figure 6.5 Global Fixed-Wing Hybrid VTOL UAV Market by Law-enforcement End-User, 2017-2028
Figure 6.6 Global Fixed-Wing Hybrid VTOL UAV Market by Military End-User, 2017-2028
Figure 7.1 Geographical Classification of Global Fixed-Wing VTOL Aircraft Market
Figure 7.2 Regional Distribution of Fixed-Wing VTOL Manned Aircraft Market, 2017-2028 ($Million)
Figure 7.3 North America Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.4 Europe Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.5 Asia-Pacific Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.6 Rest of the World Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.7 Geographical Distribution of Fixed-Wing Hybrid VTOL UAV Market, 2017-2028 ($Million)
Figure 7.8 North America Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.9 North America Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 7.10 U.S. Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.11 Rest of North America Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.12 Europe Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.13 Europe Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 7.14 U.K. Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.15 Germany Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.16 France Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.17 Rest of Europe Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.18 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.19 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 7.20 China Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.21 Australia Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.22 India Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.23 South Korea Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.24 Rest of Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.25 Rest of the World Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.26  Rest of the World Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 8.1 Analysis: Status of eVTOL Aircraft (As of 2018)
Figure 8.2 Potential Market for eVTOL Aircraft
Figure 8.3 Potential Market for eVTOL Aircraft in Sao Paulo, Brazil
Figure 8.4 Uber: City Selection Criteria
Figure 8.5 Uber: VTOL vs. UberX
Figure 9.1 Share of Key Companies
Figure 9.2 AeroVironment – Overall Financials, 2015-2017
Figure 9.3 AeroVironment–Revenue by Business Segment, 2015-2017
Figure 9.4 AeroVironment–Revenue by Region, 2015-2017
Figure 9.5 AeroVironment– SWOT Analysis
Figure 9.6 Airbus Group SE – Overall Financials, 2015-2017
Figure 9.7 Airbus Group SE –Revenue by Business Segment, 2015-2017
Figure 9.8 Airbus Group SE –Revenue by Region, 2015-2017
Figure 9.9 Airbus Group SE – SWOT Analysis
Figure 9.10 ALTI UAS – SWOT Analysis
Figure 9.11 Arcturus UAV – SWOT Analysis
Figure 9.12 SWOT Analysis – Aurora Flight Sciences
Figure 9.13 Autel Robotics – Product Offerings
Figure 9.14 SWOT Analysis – Autel Robotics
Figure 9.15 BAE Systems plc – Overall Financials, 2015-2017
Figure 9.16 BAE Systems plc –Revenue by Business Segment, 2015-2017
Figure 9.17 BAE Systems plc –Revenue by Region, 2015-2017
Figure 9.18 SWOT Analysis – BAE Systems plc
Figure 9.19 Boeing – Overall Financials, 2015-2017
Figure 9.20 Boeing –Revenue by Business Segment, 2015-2017 ($Million)
Figure 9.21 Boeing –Revenue by Region, 2015-2017
Figure 9.22 SWOT Analysis – Boeing
Figure 9.23 Israel Aerospace Industries (IAI) – Overall Financials, 2015-2017
Figure 9.24 Israel Aerospace Industries (IAI) –Revenue by Business Segment, 2015-2017
Figure 9.25 Israel Aerospace Industries (IAI) –Revenue by Region, 2014-2016
Figure 9.26 Israel Aerospace Industries (IAI) – SWOT Analysis
Figure 9.27 SWOT Analysis – Kitty Hawk
Figure 9.28 Leonardo Group– Overall Financials, 2015-2017
Figure 9.29 Leonardo Group–Revenue by Business Segment, 2015-2017
Figure 9.30 Leonardo Group –Revenue by Region, 2015-2017
Figure 9.31 SWOT Analysis – Leonardo Group
Figure 9.32 Lilium Aviation – Product Offerings
Figure 9.33 Lilium – Product Development Roadmap
Figure 9.34 SWOT Analysis – Lilium Aviation
Figure 9.35 Lockheed Martin Corporation – Overall Financials, 2015-2017
Figure 9.36 Lockheed Martin Corporation –Revenue by Business Segment, 2015-2017
Figure 9.37 Lockheed Martin Corporation –Revenue by Region, 2015-2017
Figure 9.38 SWOT Analysis – Lockheed Martin Corporation
Figure 9.39 Textron Inc. – Overall Financials, 2015-2017
Figure 9.40 Textron Inc. –Revenue by Business Segment, 2015-2017 ($Million)
Figure 9.41 Textron Inc. –Revenue by Region, 2015-2017
Figure 9.42 SWOT Analysis – Textron Inc.
Figure 9.43 XTI Aircraft Company – Product Offerings
Figure 9.44 XTI Aircraft Company – SWOT Analysis
Figure 10.1 Fixed-Wing VTOL Aircraft Market Scope
Figure 10.2 Research Methodology
Figure 10.3 Secondary Data Sources
Figure 10.4 Data Triangulation
Figure 10.5 Top-Down and Bottom-Up Approach
Figure 10.6 Global Fixed-Wing VTOL Aircraft Market Influencing Factors
Figure 10.7 Assumptions and Limitations

Aircraft are the most valuable asset in the global aviation industry and are used across various military as well as commercial applications. The aviation industry mainly offers two types of aircraft such as fixed-wings and rotorcraft which can be used for military as well as commercial applications. Fixed-wing aircraft are majorly used for commercial air passenger transport to cover longer distances. These can be used for military applications in transporting the troops from place to place. A fixed-wing aircraft requires proper runways for its takeoff and landing. Rotorcraft are another category which is majorly utilized for defense applications including intelligence, surveillance, and reconnaissance, among others. Rotorcraft are best-suited for such applications due to their hovering capability and vertical takeoff and landing (VTOL) capabilities. However, these are not as fast as compared to the fixed-wing aircraft. Therefore, the combination of both the technologies gives rise to the development of hybrid kind of aircraft which is named as fixed-wing VTOL aircraft. 

Fixed-wing VTOL aircraft are capable of vertical takeoff and landing along with the higher endurance and speed due to their aerodynamic structure. After the vertical takeoff, these aircraft transit into horizontal flight to attain the desired speed and altitude. Fixed-wing VTOL aircraft are more beneficial than the other traditional aircraft as they are not dependent on any runway infrastructure. Military is the prominent end-user of fixed-wing VTOL aircraft that enables them to carry their troops to any location as and when required. The manufacturers of unmanned aerial vehicles are also using the hybrid technology for better endurance and speed. These hybrid UAVs can be deployed in various industries such as military, commercial, and law enforcement. There are many research and development organizations that are continuously putting their efforts in developing more efficient fixed-wing hybrid VTOL UAVs. Furthermore, the manufacturers and research organizations are focused on developing electric fixed-wing VTOL aircraft which is more cost-effective and is commercialized for various industries. This will also help in enhancing the endurance for the requirement of longer flights. The global fixed-wing VTOL aircraft market is expected to show robust growth in the areas that do not have runways due to increasing usage in military, commercial, and law enforcement applications. AeroVironment, Airbus, Arcturus UAV, Aurora Flight Sciences, BAE Systems, Boeing, Leonardo, Lockheed Martin, Israel Aerospace Industries, Textron Inc., ALTI UAS, Autel Robotics, Lilium, XTI Aircraft, and Kitty Hawk, among others, are some of the major players in the fixed-wing VTOL aircraft market.

  FIGURE 1    GLOBAL FIXED-WING VTOL AIRCRAFT MARKET, 2017-2028 ($MILLION)

GLOBAL FIXED-WING VTOL AIRCRAFT MARKET, 2017-2028 ($MILLION)

Source: Expert Interviews, Secondary Research and BIS Research Analysis

The preceding figure illustrates the increasing revenue generation of the global fixed-wing VTOL aircraft market over the years. The market reported a revenue of $2,009.6 million in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2028. Military, commercial, and law enforcement are the three major end-users of these aircraft.

The emergence of hybrid VTOL technology has increased the potential of fixed-wing aircraft because of combined advantage of vertical lift with forward flight. The application of fixed-wing hybrid VTOL UAVs has been actively adopted by commercial, military, and law enforcement users to carry out operations including search and rescue, reconnaissance, surveillance and situational awareness, and survey and monitoring, among others. The fixed-wing hybrid VTOL UAVs in the commercial sector are expected to have the highest demand during the forecast period and, hence, will prove as the largest potential market segment for the utilization of fixed-wing hybrid VTOL UAVs. The fixed-wing VTOL manned aircraft have only been adopted by military end-user as of now. However, the law enforcement and commercial end-user sectors are also expected to have the demand for fixed-wing manned VTOL aircraft during the forecast period 2018-2028.

North America is expected to have the highest market during the forecast period (2018-2028), followed by Asia-Pacific, Europe, and the Rest of the World (RoW). The increase in the demand for fixed-wing VTOL aircraft in North America is due to the need for commercial and military applications. The commercial market for fixed-wing hybrid VTOL UAVs in the U.S. is increasing due their incorporation in oil and gas and agricultural applications. The U.S. is expected to dominate the overall market during the forecast period 2017-2026. The U.K., one of the prominent countries in Europe, is currently focusing on the development of fixed-wing VTOL aircraft for public safety and security. Some of the other countries include Germany and France.

The Asia-Pacific region majorly consists of China, Australia, India, and South Korea in the fixed-wing VTOL aircraft market. The countries in the region are experiencing a trend of extensive investment in all forms of fixed-wing VTOL aircraft technology. China, currently, is having a large number of manufacturers while Australia is expected to grow at the highest rate. Moreover, there are ample opportunities for new entrants in this region as the demand for fixed-wing hybrid VTOL UAVs is increasing for both commercial and military applications.

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The global fixed-wing VTOL aircraft market is expected to witness significant growth over the forecast period 2018-2028 due to the rising demand across various end-users including commercial, military, and law enforcement. Fixed-wing VTOL aircraft have the capabilities of both fixed-wing aircraft and rotorcraft. These aircraft are able to takeoff and land vertically and then transit into a horizontal flight which eliminates the need for long runway infrastructure without compromising the speed and endurance. This high scale growth of the fixed-wing VTOL aircraft industry is subsequently influencing its market. Therefore, new advanced VTOL technologies are developed such as electric VTOL (eVTOL). The growing demand for the fixed-wing VTOL aircraft in defense applications, faster travel and runway-less platforms, and rising demand for UAVs in the agricultural sector are some of the key drivers for the growth of the global fixed-wing VOTL aircraft market. 

Moreover, emergence of More Electric Aircraft (MEA), increasing demand for VTOL aircraft in commercial applications, on-demand urban air transportation, growing importance of VTOL aircraft in cargo transportation, and increasing usage in humanitarian relief operations are some of the opportunities for the growth of the global fixed-wing VTOL aircraft market. There are mainly two types of fixed-wing VTOL aircraft: fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL UAVs. In addition to this, the market for the fixed-wing hybrid VTOL UAV is expected to have the highest growth rate during the forecast period 2018-2028 due to the extensive demand for VTOL UAV in commercial applications. Furthermore, the fixed-wing VTOL aircraft have been deployed by various end-users into multiple industries including commercial, military, and law enforcement. Until 2017, the fixed-wing VTOL manned aircraft was used only for military applications. However, now it is expected to have application in law enforcement as well as in the commercial industry. The military end-users acquired the most significant market share of the global fixed-wing hybrid VTOL UAVs in 2017; however, commercial end-users are expected to have the high growth rate during the forecast period, 2018-2028.

According to BIS Research analysis, the global fixed-wing VTOL aircraft market generated $2,009.6 million in 2017 and is estimated to grow at a CAGR of 21.7% during 2018-2028. North America dominated the global fixed-wing VTOL aircraft market in 2017 with the U.S. acquiring the most significant market share, globally. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2028.

Following points provide a detailed description of the report content and the topics covered in the report:

  • This report identifies the global fixed-wing VTOL aircraft market under different segments such as type, end-user, and region.
  • It examines the prime supply-side factors, which affect the growth of the market, and the current and future trends, market drivers, restraints, and challenges prevalent in the global fixed-wing VTOL aircraft market.
  • The report also highlights the value chain of the industry with the primary focus on the technological roadmap.
  • Detailed competitive analysis has been included in this report which focuses on the ¬key market developments and strategies followed by the top players in the market. Additionally, the competitive benchmarking map has been included in the existing study which analyzes the competitive strength of the players in the global fixed-wing VTOL aircraft market.
  • The market for different types of the fixed-wing VTOL aircraft, such as fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL UAVs, has been estimated and analyzed. 
  • Different end-users of the fixed-wing VTOL aircraft, such as commercial, military, and law enforcement, have been estimated and analyzed in the report. 
  • The global fixed-wing VTOL aircraft market has been analyzed in the report for the major regions including North America, Europe, Asia-Pacific, and Rest of the World.  
  • The global eVTOL aircraft market analysis has been provided in the report.
  • A detailed Porter’s Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the global fixed-wing VTOL aircraft market.
  • The study provides detailed analysis of the 15 key players in the global fixed-wing VTOL aircraft market including AeroVironment, Airbus, Arcturus UAV, Aurora Flight Sciences, BAE Systems, Boeing, Leonardo, Lockheed Martin, Israel Aerospace Industries, Textron Inc., ALTI UAS, Autel Robotics, Lilium, XTI Aircraft, and Kitty Hawk in the Company Profiles section. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

TABLE OF CONTENT
Preface
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Growing Demand for Fixed-Wing VTOL Aircraft in Defense Applications
1.1.2 Runway-less Platforms
1.1.3 Increasing Demand for Fixed-Wing Hybrid VTOL UAVs in Agriculture
1.2 Market Challenges
1.2.1 Regulatory Challenges Associated with UAVs
1.2.2 Privacy & Safety Concerns with Fixed-Wing VTOL Aircraft
1.2.3 Infrastructural Challenges Associated with Flying Cars
1.3 Market Opportunities
1.3.1 Emergence of More Electric Aircraft (MEA)
1.3.2 Development of New Commercial Applications of Fixed-Wing VTOL Aircraft
1.3.3 On-Demand Urban Air Transportation
1.3.4 Growing Importance of Fixed-Wing VTOL Drones in Cargo Transportation
1.3.5 Increasing Usage in Humanitarian Relief Operations
2 Competitive Insights
2.1 Key Market Strategies and Developments
2.1.1 Partnerships, Agreements, and Contracts
2.1.2 Product Launches
2.1.3 Mergers and Acquisitions
2.1.4 Other Developments
2.2 Competitive Benchmarking Map
3 Industry Analysis
3.1 Evolution of VTOL Aircraft
3.2 Product Overview & Pricing Analysis
3.2.1 Engine Analysis: Fixed-Wing VTOL Aircraft Market
3.3 Startups & Investment Scenario
3.4 Regulatory Environment
3.4.1 Global Drone Regulatory Authorities by Country
3.4.2 Global Drone Regulations by Application
3.5 Industry Attractiveness (Porter’s Five Forces Analysis)
3.6 Value Chain Analysis
4 Global Fixed-Wing VTOL Aircraft Market, 2018-2028
4.1 Assumptions and Limitations
4.2 Market Overview
5 Global Fixed-Wing VTOL Aircraft Market by Type
5.1 Market Overview
5.2 Fixed-Wing VTOL Manned Aircraft
5.3 Fixed-Wing Hybrid VTOL UAV
6 Global Fixed-Wing VTOL Aircraft Market by End-User
6.1 Market Overview
6.2 Fixed-Wing VTOL Manned Aircraft Market by End-User
6.2.1 Military
6.3 Fixed-Wing Hybrid VTOL UAV Market by End-User
6.3.1 Commercial
6.3.2 Law-enforcement
6.3.3 Military
7 Global Fixed-Wing VTOL Aircraft Market by Region
7.1 Market Overview
7.2 Fixed-Wing VTOL Manned Aircraft Market by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia-Pacific
7.2.4 Rest of the World
7.3 Fixed-Wing Hybrid VTOL UAV Market by Region
7.3.1 North America
7.3.2 North America Fixed-Wing Hybrid VTOL UAV Market by End-User
7.3.3 North America Fixed-Wing Hybrid VTOL UAV Market by Country
7.3.3.1 U.S.
7.3.3.2 Rest of North America
7.4 Europe
7.4.1 Europe Fixed-Wing Hybrid VTOL UAV Market by End-User
7.4.2 Europe Fixed-Wing Hybrid VTOL UAV Market by Country
7.4.2.1 U.K
7.4.2.2 Germany
7.4.2.3 France
7.4.2.4 Rest of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market by End-User
7.5.2 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market by Country
7.5.2.1 China
7.5.2.2 Australia
7.5.2.3 India
7.5.2.4 South Korea
7.5.2.5 Rest of Asia-Pacific
7.6 Rest of the World
7.6.1 Rest of the World Fixed-Wing Hybrid VTOL UAV Market by End-User
8 Global electric VTOL (eVTOL) Aircraft Market
8.1 Market Overview
8.2 The Case of Uber: Future of Urban Air Mobility
9 Company Profile
9.1 Overview
9.2 AeroVironment
9.2.1 Company Overview
9.2.2 Products and Services
9.2.3 Financials
9.2.3.1 Overall Financials
9.2.3.2 Financial Summary
9.2.4 SWOT Analysis
9.3 Airbus Group SE
9.3.1 Company Overview
9.3.2 Products and Services
9.3.3 Financials
9.3.3.1 Overall Financials
9.3.3.2 Financial Summary
9.3.4 SWOT Analysis
9.4 ALTI UAS
9.4.1 Company Overview
9.4.2 Products and Services
9.4.3 SWOT Analysis
9.5 Arcturus UAV
9.5.1 Company Overview
9.5.2 Products and Services
9.5.3 SWOT Analysis
9.6 Aurora Flight Science
9.6.1 Company Overview
9.6.1 Product Offerings
9.6.2 SWOT Analysis
9.7 Autel Robotics
9.7.1 Company Overview
9.7.2 Product Offerings
9.7.3 SWOT Analysis
9.8 BAE Systems plc
9.8.1 Company Overview
9.8.2 Products & Services
9.8.3 Overall Financials
9.8.3.1 Financial Summary
9.8.4 SWOT Analysis
9.9 Boeing
9.9.1 Company Overview
9.9.2 Products and Services
9.9.3 Financials
9.9.3.1 Overall Financials
9.9.4 Financial Summary
9.9.5 SWOT Analysis
9.1 Israel Aerospace Industries (IAI)
9.10.1 Company Overview
9.10.2 Products and Services
9.10.3 Financials
9.10.3.1 Overall Financials
9.10.3.2 Financial Summary
9.10.4 SWOT Analysis
9.11 Kitty Hawk
9.11.1 Company Overview
9.11.2 Product Offerings
9.11.3 SWOT Analysis
9.12 Leonardo Group
9.12.1 Company Overview
9.12.2 Products and Services
9.12.3 Financials
9.12.3.1 Overall Financials
9.12.3.2 Financial Summary
9.12.4 SWOT Analysis
9.13 Lilium Aviation
9.13.1 Company Overview
9.13.2 Product Offerings
9.13.3 SWOT Analysis
9.14 Lockheed Martin Corporation
9.14.1 Company Overview
9.14.2 Products and Services
9.14.3 Financials
9.14.3.1 Overall Financials
9.14.3.2 Financial Summary
9.14.4 SWOT Analysis
9.15 Textron Inc.
9.15.1 Company Overview
9.15.2 Products and Services
9.15.3 Financials
9.15.3.1 Overall Financials
9.15.4 Financial Summary
9.15.5 SWOT Analysis
9.16 XTI Aircraft Company
9.16.1 Company Overview
9.16.2 Product Offerings
9.16.3 SWOT Analysis
9.17 Other Key Players
10 Scope & Research Methodology
10.1 Research Scope
10.2 Global Fixed-Wing VTOL Aircraft Market Research Methodology
11 Appendix
11.1 Related Reports
List of Tables
Table 1.1 Fixed-Wing Hybrid VTOL Drones for Cargo Applications
Table 2.1 Mergers and Acquisitions Adopted by the Key Market Players, 2015-2018
Table 3.1 Leading Manufacturers Product Offerings
Table 3.2 Key Investments, 2014-2018
Table 3.3 Drone Regulatory Authorities by Country
Table 3.4 Country-wise Drone Regulation by Application
Table 3.5 Analyzing Threat from New Entrants in Global Fixed-Wing VTOL Aircraft Market
Table 3.6 Analyzing Threat from Substitute Products in Global Fixed-Wing VTOL Aircraft Market
Table 3.7 Analyzing Bargaining Power of Suppliers in Global Fixed-Wing VTOL Aircraft Market
Table 3.8 Analyzing Bargaining Power of Buyers in Global Fixed-Wing VTOL Aircraft Market
Table 3.9 Analyzing Intensity of Competitive Rivalry in Global Fixed-Wing VTOL Aircraft Market
Table 5.1 Fixed-wing hybrid VTOL UAVs
Table 6.1 Global Fixed-Wing Hybrid VTOL UAV Market by End-User, 2017-2028 ($Million)
Table 7.1 Geographical Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028 ($Million)
Table 8.1 eVTOL Aircraft: Company & Products
Table 9.1 Other Key Players
List of Figures
Figure 1 Global Fixed-Wing VTOL Aircraft Market, 2017-2028
Figure 2 Global Fixed-Wing VTOL Aircraft Market by Type, 2017-2028 ($Million)
Figure 4 Global Fixed-Wing Hybrid VTOL UAVs Market by End-User, 2017-2028 ($Million)
Figure 5 Global Fixed-Wing VTOL Manned Aircraft Market by Region, 2028
Figure 6 Global Fixed-Wing Hybrid VTOL UAV Market by Country, 2028
Figure 1.1 Market Dynamics Snapshot
Figure 1.2 Impact Analysis on Market Drivers
Figure 1.3 Impact Analysis on Market Challenges
Figure 1.4 Impact Analysis on Market Opportunities
Figure 1.5 Benefits of Agricultural Fixed-Wing Hybrid VTOL UAV
Figure 2.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Figure 2.2 Percentage Share of Strategies Adopted by the Market Players, 2013-2018
Figure 2.3 Partnerships, Agreements and Contracts Adopted by Key Market Players, 2013-2018
Figure 2.4 Product Launches by the Key Market Players, 2014-2018
Figure 2.5 Mergers and Acquisitions Adopted by the Key Market Players, 2015-2018
Figure 2.6 Other Developments by the Key Market Players, 2013-2017
Figure 2.7 Competitive Benchmarking for Fixed-Wing VTOL and eVTOL Aircraft Market
Figure 3.1 Evolution of Global Fixed-Wing VTOL Aircraft
Figure 3.2 Pricing Analysis: Fixed-Wing VTOL Aircraft
Figure 3.3 Fixed-Wing VTOL Aircraft Engine Analysis, 2017
Figure 3.4 Porter’s Five Forces Analysis of Global Fixed-Wing VTOL Aircraft Industry
Figure 3.5 Threat from New Entrants
Figure 3.6 Threat from Substitute Products
Figure 3.7 Bargaining Power of Suppliers
Figure 3.8 Bargaining Power of Buyers
Figure 3.9 Intensity of Competitive Rivalry
Figure 3.10 Value Chain Analysis
Figure 4.1 Global Fixed-Wing VTOL Aircraft Market, 2017-2028
Figure 5.1 Classification of Global Fixed-Wing VTOL Aircraft Market by Type
Figure 5.2 Fixed-Wing Hybrid VTOL UAV Volume, 2017
Figure 5.3 Global Fixed-Wing Aircraft Market by Type, 2017-2028 ($Million)
Figure 5.4 Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 5.5 Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 6.1 Classification of Global Fixed-Wing VTOL Aircraft Market by End-User
Figure 6.2 Global Fixed-Wing VTOL Manned Aircraft Market by Military, 2017-2028
Figure 6.3 Global Fixed-Wing Hybrid VTOL UAV Market by End-User, 2017-2028 ($Million)
Figure 6.4 Global Fixed-Wing Hybrid VTOL UAV Market by Commercial End-User, 2017-2028
Figure 6.5 Global Fixed-Wing Hybrid VTOL UAV Market by Law-enforcement End-User, 2017-2028
Figure 6.6 Global Fixed-Wing Hybrid VTOL UAV Market by Military End-User, 2017-2028
Figure 7.1 Geographical Classification of Global Fixed-Wing VTOL Aircraft Market
Figure 7.2 Regional Distribution of Fixed-Wing VTOL Manned Aircraft Market, 2017-2028 ($Million)
Figure 7.3 North America Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.4 Europe Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.5 Asia-Pacific Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.6 Rest of the World Fixed-Wing VTOL Manned Aircraft Market Size, 2017-2028
Figure 7.7 Geographical Distribution of Fixed-Wing Hybrid VTOL UAV Market, 2017-2028 ($Million)
Figure 7.8 North America Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.9 North America Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 7.10 U.S. Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.11 Rest of North America Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.12 Europe Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.13 Europe Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 7.14 U.K. Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.15 Germany Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.16 France Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.17 Rest of Europe Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.18 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.19 Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 7.20 China Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.21 Australia Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.22 India Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.23 South Korea Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.24 Rest of Asia-Pacific Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.25 Rest of the World Fixed-Wing Hybrid VTOL UAV Market Size, 2017-2028
Figure 7.26  Rest of the World Fixed-Wing Hybrid VTOL UAV Market Size by End-User, 2017-2028
Figure 8.1 Analysis: Status of eVTOL Aircraft (As of 2018)
Figure 8.2 Potential Market for eVTOL Aircraft
Figure 8.3 Potential Market for eVTOL Aircraft in Sao Paulo, Brazil
Figure 8.4 Uber: City Selection Criteria
Figure 8.5 Uber: VTOL vs. UberX
Figure 9.1 Share of Key Companies
Figure 9.2 AeroVironment – Overall Financials, 2015-2017
Figure 9.3 AeroVironment–Revenue by Business Segment, 2015-2017
Figure 9.4 AeroVironment–Revenue by Region, 2015-2017
Figure 9.5 AeroVironment– SWOT Analysis
Figure 9.6 Airbus Group SE – Overall Financials, 2015-2017
Figure 9.7 Airbus Group SE –Revenue by Business Segment, 2015-2017
Figure 9.8 Airbus Group SE –Revenue by Region, 2015-2017
Figure 9.9 Airbus Group SE – SWOT Analysis
Figure 9.10 ALTI UAS – SWOT Analysis
Figure 9.11 Arcturus UAV – SWOT Analysis
Figure 9.12 SWOT Analysis – Aurora Flight Sciences
Figure 9.13 Autel Robotics – Product Offerings
Figure 9.14 SWOT Analysis – Autel Robotics
Figure 9.15 BAE Systems plc – Overall Financials, 2015-2017
Figure 9.16 BAE Systems plc –Revenue by Business Segment, 2015-2017
Figure 9.17 BAE Systems plc –Revenue by Region, 2015-2017
Figure 9.18 SWOT Analysis – BAE Systems plc
Figure 9.19 Boeing – Overall Financials, 2015-2017
Figure 9.20 Boeing –Revenue by Business Segment, 2015-2017 ($Million)
Figure 9.21 Boeing –Revenue by Region, 2015-2017
Figure 9.22 SWOT Analysis – Boeing
Figure 9.23 Israel Aerospace Industries (IAI) – Overall Financials, 2015-2017
Figure 9.24 Israel Aerospace Industries (IAI) –Revenue by Business Segment, 2015-2017
Figure 9.25 Israel Aerospace Industries (IAI) –Revenue by Region, 2014-2016
Figure 9.26 Israel Aerospace Industries (IAI) – SWOT Analysis
Figure 9.27 SWOT Analysis – Kitty Hawk
Figure 9.28 Leonardo Group– Overall Financials, 2015-2017
Figure 9.29 Leonardo Group–Revenue by Business Segment, 2015-2017
Figure 9.30 Leonardo Group –Revenue by Region, 2015-2017
Figure 9.31 SWOT Analysis – Leonardo Group
Figure 9.32 Lilium Aviation – Product Offerings
Figure 9.33 Lilium – Product Development Roadmap
Figure 9.34 SWOT Analysis – Lilium Aviation
Figure 9.35 Lockheed Martin Corporation – Overall Financials, 2015-2017
Figure 9.36 Lockheed Martin Corporation –Revenue by Business Segment, 2015-2017
Figure 9.37 Lockheed Martin Corporation –Revenue by Region, 2015-2017
Figure 9.38 SWOT Analysis – Lockheed Martin Corporation
Figure 9.39 Textron Inc. – Overall Financials, 2015-2017
Figure 9.40 Textron Inc. –Revenue by Business Segment, 2015-2017 ($Million)
Figure 9.41 Textron Inc. –Revenue by Region, 2015-2017
Figure 9.42 SWOT Analysis – Textron Inc.
Figure 9.43 XTI Aircraft Company – Product Offerings
Figure 9.44 XTI Aircraft Company – SWOT Analysis
Figure 10.1 Fixed-Wing VTOL Aircraft Market Scope
Figure 10.2 Research Methodology
Figure 10.3 Secondary Data Sources
Figure 10.4 Data Triangulation
Figure 10.5 Top-Down and Bottom-Up Approach
Figure 10.6 Global Fixed-Wing VTOL Aircraft Market Influencing Factors
Figure 10.7 Assumptions and Limitations

Aircraft are the most valuable asset in the global aviation industry and are used across various military as well as commercial applications. The aviation industry mainly offers two types of aircraft such as fixed-wings and rotorcraft which can be used for military as well as commercial applications. Fixed-wing aircraft are majorly used for commercial air passenger transport to cover longer distances. These can be used for military applications in transporting the troops from place to place. A fixed-wing aircraft requires proper runways for its takeoff and landing. Rotorcraft are another category which is majorly utilized for defense applications including intelligence, surveillance, and reconnaissance, among others. Rotorcraft are best-suited for such applications due to their hovering capability and vertical takeoff and landing (VTOL) capabilities. However, these are not as fast as compared to the fixed-wing aircraft. Therefore, the combination of both the technologies gives rise to the development of hybrid kind of aircraft which is named as fixed-wing VTOL aircraft. 

Fixed-wing VTOL aircraft are capable of vertical takeoff and landing along with the higher endurance and speed due to their aerodynamic structure. After the vertical takeoff, these aircraft transit into horizontal flight to attain the desired speed and altitude. Fixed-wing VTOL aircraft are more beneficial than the other traditional aircraft as they are not dependent on any runway infrastructure. Military is the prominent end-user of fixed-wing VTOL aircraft that enables them to carry their troops to any location as and when required. The manufacturers of unmanned aerial vehicles are also using the hybrid technology for better endurance and speed. These hybrid UAVs can be deployed in various industries such as military, commercial, and law enforcement. There are many research and development organizations that are continuously putting their efforts in developing more efficient fixed-wing hybrid VTOL UAVs. Furthermore, the manufacturers and research organizations are focused on developing electric fixed-wing VTOL aircraft which is more cost-effective and is commercialized for various industries. This will also help in enhancing the endurance for the requirement of longer flights. The global fixed-wing VTOL aircraft market is expected to show robust growth in the areas that do not have runways due to increasing usage in military, commercial, and law enforcement applications. AeroVironment, Airbus, Arcturus UAV, Aurora Flight Sciences, BAE Systems, Boeing, Leonardo, Lockheed Martin, Israel Aerospace Industries, Textron Inc., ALTI UAS, Autel Robotics, Lilium, XTI Aircraft, and Kitty Hawk, among others, are some of the major players in the fixed-wing VTOL aircraft market.

  FIGURE 1    GLOBAL FIXED-WING VTOL AIRCRAFT MARKET, 2017-2028 ($MILLION)

GLOBAL FIXED-WING VTOL AIRCRAFT MARKET, 2017-2028 ($MILLION)

Source: Expert Interviews, Secondary Research and BIS Research Analysis

The preceding figure illustrates the increasing revenue generation of the global fixed-wing VTOL aircraft market over the years. The market reported a revenue of $2,009.6 million in 2017 and is expected to grow at a significant CAGR during the forecast period 2018-2028. Military, commercial, and law enforcement are the three major end-users of these aircraft.

The emergence of hybrid VTOL technology has increased the potential of fixed-wing aircraft because of combined advantage of vertical lift with forward flight. The application of fixed-wing hybrid VTOL UAVs has been actively adopted by commercial, military, and law enforcement users to carry out operations including search and rescue, reconnaissance, surveillance and situational awareness, and survey and monitoring, among others. The fixed-wing hybrid VTOL UAVs in the commercial sector are expected to have the highest demand during the forecast period and, hence, will prove as the largest potential market segment for the utilization of fixed-wing hybrid VTOL UAVs. The fixed-wing VTOL manned aircraft have only been adopted by military end-user as of now. However, the law enforcement and commercial end-user sectors are also expected to have the demand for fixed-wing manned VTOL aircraft during the forecast period 2018-2028.

North America is expected to have the highest market during the forecast period (2018-2028), followed by Asia-Pacific, Europe, and the Rest of the World (RoW). The increase in the demand for fixed-wing VTOL aircraft in North America is due to the need for commercial and military applications. The commercial market for fixed-wing hybrid VTOL UAVs in the U.S. is increasing due their incorporation in oil and gas and agricultural applications. The U.S. is expected to dominate the overall market during the forecast period 2017-2026. The U.K., one of the prominent countries in Europe, is currently focusing on the development of fixed-wing VTOL aircraft for public safety and security. Some of the other countries include Germany and France.

The Asia-Pacific region majorly consists of China, Australia, India, and South Korea in the fixed-wing VTOL aircraft market. The countries in the region are experiencing a trend of extensive investment in all forms of fixed-wing VTOL aircraft technology. China, currently, is having a large number of manufacturers while Australia is expected to grow at the highest rate. Moreover, there are ample opportunities for new entrants in this region as the demand for fixed-wing hybrid VTOL UAVs is increasing for both commercial and military applications.

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