A 2021 Deloitte Insights report estimates there are more than 200 companies around the world in some stage of development for electric vertical take-off and landing aircraft — eVTOL — with “more than a dozen projects receiving significant private investment.”
As early as 2024, companies like Archer and Joby Aviation expect to start commercial operations for their eVTOL taxi services in the US, with companies like the Vertical Aerospace in the UK, Urban Aeronautics in Israel and Volocopter in Germany targeting timeframes for commercial operations by the late 2020s.
The cargo air mobility market is expected to grow and scale faster than the passenger market in the early years, $13 billion versus $4 billion by 2025. However, the passenger market will quickly catch up. It is expected to scale and catch cargo capabilities by 2035, with cargo hitting $57 billion compared to $56 billion for the passenger market, according to the Deloitte report.