Commercial

Vertical Flight Society: More Than $1 Billion Already Invested in eVTOL Companies

By Frank Wolfe | January 3, 2019
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Embraer X eVTOL

Photo courtesy of Embraer

As companies like Uber, Airbus, Boeing, Bell and Embraer, seek to turn the Electrical Vertical Takeoff and Landing (eVTOL) concept into viable urban air mobility business opportunities in the next several years, such firms have attracted more than $1 billion in investments in eVTOL, according to the Vertical Flight Society (VFS).

VFS is to hold its 6th Annual eVTOL Aircraft Symposium on Jan. 29-31 in Mesa, Ariz.

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More than 130 aircraft are being tracked by the VFS World eVTOL Aircraft Directory at www.eVTOL.news.

“A lot of people in the aviation industry dismissed the concept a few years ago, but our past symposia have shown that electric VTOL aircraft passenger service is not only possibly but likely within the next few years, and eVTOL companies have attracted well over $1 billion in investment,” Mike Hirschberg, the executive director of VFS said in a statement.

Recent market studies commissioned by NASA, as well as those published by financial investment and analysis companies, such as Morgan Stanley, estimate that as many as 100,000 eVTOL aircraft could be flying commercially in the coming decades as part of an emerging $500 billion to $2 trillion market.

One recent study by the German consultancy Roland Berger predicts that industry will field about 3,000 eVTOL passenger drones by 2025 for air taxi and airport shuttle service and 98,000 such drones by 2050 for air taxi, airport shuttle, and inter-city service.

"With flagship pilot projects scheduled to go live in cities such as Dubai, Singapore, Los Angeles and Dallas in the early 2020s, better batteries, new aircraft designs and  — as of the late 2020s  — autonomous flight technology will bring prices down and spread services to major metropolitan areas around the globe," according to the report, Urban Air Mobility: The Rise of A New Mode of Transportation.

VFS is holding the 6th Annual eVTOL Symposium along with its 8th Biennial Autonomous VTOL Technical Meeting, which will feature more than 40 technical papers on eVTOL technologies, unmanned VTOL aircraft, and various levels of autonomy for manned/unmanned civil/military helicopters and eVTOL aircraft.

“The Vertical Flight Society is in a unique position to help to lead the electric and autonomous VTOL revolution by working with the leaders from industry, academia, government and other associations to provide the foundational support necessary to see eVTOL aircraft come to fruition,” Hirschberg said.

 

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