Flying start – the growing case for eVTOLs

Urban transportation networks could soon be transformed by electric vertical take-off and landing aircraft (eVTOLs). A combination of a supportive regulatory environment, improving technology and falling costs has resulted in the emergence of a nascent industry. Trials are underway around the world. The promise of urban air mobility is one of faster and safer transportation, increasing capacity and reduced environmental emissions. As the industry scales, it could be worth $30bn within a decade, and substantially more if freight and logistics are added in. Over time, taking an eVTOL could be as easy as hailing a taxi. The journey won’t be linear though, given inevitable regulatory delays, safety issues and other practical concerns. Unit economics are also open to debate. Two US businesses (Archer Aviation and Joby Aviation) have established an early lead, while Uber is positioning itself as a demand aggregator. The eVTOL industry appears to be off to a flying start.