STOL Aircraft Market Size (2023 – 2030)

The STOL Aircraft Market was valued at USD 5.41 billion in 2022 and is projected to reach USD 23.21 billion by 2030. The market is anticipated to expand at a CAGR of 23.3 % over the forecast period.

INDUSTRY OVERVIEW

A conventional fixed-wing aircraft with a short takeoff and landing (STOL) runway is referred to as a STOL aircraft. Numerous STOL-designed aircraft have varied configurations for usage on airstrips with challenging conditions (such as high altitude or ice). Short-runway STOLport airfields have also been utilized to operate STOL aircraft, including those employed in regular passenger airline operations.

The removal of short-haul aircraft from the current airport traffic has many benefits. Long and short aircraft flights would have less costly delays if traffic at the Corridor's major airports was reduced. Increased long-haul air service would be made possible by this. Furthermore, a short-haul air system may be able to serve what has evolved into a mass-transit market thanks to the separation of vehicles and terminals from long-haul operations.

STOL has the potential to unintentionally change how people access goods and travel. STO has the potential to have an impact on GHG emissions, car ownership, social justice, accessibility, and many other areas. The consequences of STOL on travel behaviour are largely hypothetical, which only serves to muddle matters further. Using STOL on lengthy flights might save time. STOL may cause more or less congestion and emissions depending on whether the plane is used for deadheading (flying without passengers), single passenger use, or group use. STOL may affect customers' decisions to go to less congested areas (such as the suburbs).

The study of short take-off and landing (STOL) aircraft is advancing. Travel times will be shortened and passenger convenience will be improved with three-dimensional movement in the sky. Applications for passenger transportation are anticipated to include use as air taxis, for first aid, law enforcement, rescue, and recreational pursuits. Due to the implementation of its envisioned systems of precision, the STOL part of operations has seen a surge in technical integrations. The pilot assistance system represents the most current development. On extremely small runways, the pilot aid system enables safe, reliable landings. It lessens the workload on the pilots and improves safety. Operators may track and operate aircraft in real-time using network-based architecture, and fleet data can be integrated into ERP and scheduling systems. In-depth research-based development for STOL has been positioned under green technologies. It seeks to strike a compromise between a time-constrained 4D flight (flying an aircraft to pass a waypoint at a predetermined time), which boosts airspace throughput, and a less constrained fuel-optimized flight, which lessens environmental stress. the creation of algorithms for an onboard system that will provide the pilot with the best route based on weather information, and the incorporation of the established algorithm into an electronic flight bag, a tablet computer.

However, the general aviation industry is not immune to the consequences of the economic downturn due to COVID, which is hurting the market.

COVD-19 IMPACT ON THE STOL AIRCRAFT MARKET

Due to supply chain delays and the closure of R&D facilities, the COVID-19 outbreak had a negative effect on the market in 2020. The epidemic caused significant losses for startups in Asia and the Pacific. Despite the effects of COVID-19, corporations in North America and Europe raised almost USD 1.3 billion for investments in air mobility startups, according to data source Pitchbook. By the end of 2022, the market is anticipated to stabilise. The profitability of numerous industries and the rate of world expansion were both impacted by the economic crisis brought on by COVID-19.

MARKET DRIVERS: 

The market will be driven by STOL aircraft's low operating and maintenance costs

STOL aeroplanes are much smaller and lighter than commercial aircraft in size and weight. Due to the loose ownership laws in many nations, purchasing a stealth aircraft is simpler. In developed nations like the US, Canada, and Australia, ultralight and light aircraft are frequently used for recreational and sporting activities. Some STOL aircraft also run on automotive-grade fuel, which lowers the cost of running the aircraft. An ultralight aircraft costs less to run since it uses less fuel per hour on average. The market for ultralight and light aircraft is anticipated to grow as a result of the low cost of acquisition, maintenance, and operation, which results in a low cost of ownership.

This industry's growth will be fueled by increasing traffic congestion and the need for more intelligent transportation

In developing nations like China and India, where the urban population is growing, there is more traffic. The urban transportation system is putting money into sustainable and environmentally friendly alternatives including urban air mobility, air taxi services, and others because of the escalating surface traffic congestion. Electric vertical take-off and landing aircraft prototypes are currently being developed and tested by several aircraft manufacturers, including Airbus SE, Joby Aviation, and others. By 2024, air taxis are set to be commercially viable. Additionally, it is anticipated that increasing urbanisation would boost demand for products that facilitate quicker commutes.

MARKET RESTRAINTS:

The global growth rate and profitability of the STOL & light aircraft manufacturing businesses were impacted by the economic crisis brought on by COVID-19, which can impede the market's growth

The global growth rate and profitability of numerous industries were impacted by the economic crisis brought on by COVID-19. In 2021, it is anticipated that the global GDP would expand by 6%. (Source: World Bank). The general aviation industry is not immune to the effects of the recession. Currently, the growth in STOL aircraft ownership and use for sporting and recreational flights is moderate. The development of the STOL and light aircraft market has been hampered by US-China trade restrictions. This conflict also has an impact on international trade and investment. Despite the fact that the economy is recovering, there is still concern that China's economy could overheat and send the entire world back into a recession. The market for STOL and light aircraft may be negatively impacted by this. The recent closure of numerous STOL aircraft manufacturers in the US is a result of the country's economic crisis and strict restrictions.

Lack of infrastructure and strict certification requirements put in place by aviation agencies could restrain market expansion

The infrastructure needed to commercialise the technology, such as skyports, charging stations, and other facilities must be built to use VTOL OR STOL transport solutions. It is projected that the initial high cost and lengthy building period of such infrastructure will stifle market expansion. Additionally, it is anticipated that the market expansion will be hampered by the severe certification requirements of aviation organisations like the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) for the approval of STOL/VTOL designs.

STOL AIRCRAFT MARKET REPORT COVERAGE:

This research report on the STOL Aircraft Market has been segmented and sub-segmented based on Propulsion, Maximum Take-Off Weight, By Lift Technology, Operation, Range, Application and By Region.

STOL AIRCRAFT MARKET – BY PROPULSION

• Electric-based Commercial Aircraft
• Battery-Electric
• Hybrid-Electric
• Hydrogen-Electric
• Special Fuel Hybrid based Commercial Aircraft

Based on the propulsion, the STOL aircraft market is segmented into Electric-based Commercial Aircraft and Special Fuel Hybrid based Commercial Aircraft. Because of the rising demand for fully electric aircraft, the battery-electric segment will dominate the market. Through the projection period, it is predicted that the battery-electric category will dominate the market. The expansion can be due to the rising demand for completely electric aircraft, which have lower operational costs and carbon footprints. The increased use of hybrid-electric technology for long-range aircraft is likely to drive significant growth in the hybrid-electric segment during the forecast period. The development of better hydrogen fuel cell storage facilities is estimated to lead to an increase in the hydrogen-electric market in the next years.

STOL AIRCRAFT MARKET - BY MAXIMUM TAKE-OFF WEIGHT (MTOW)

• <250 Kg
• 251-500 Kg
• 501-1500 Kg
• >1500 Kg

Due to the increasing use of tiny VTOL/STOL aircraft for commercial purposes, the 250 kg segment will dominate the market. The market is divided into four categories based on MTOW: 250 kg, 251-500 kg, 501-1500 kg, and >1500 kg. In terms of market share, it is projected that the sub-250 kg category dominated the market in 2021. The increased use of tiny VTOL/STOL aircraft for business uses like delivery services are responsible for the segment's dominance. Due to the growing demand for close-range and short-range STOL and eVTOL vehicles, the 250–500 kilograms market is anticipated to experience significant growth. The demand for SVTOL and eVTOL vehicles for military applications is driving the growth of the 501-1500 kg market.

STOL AIRCRAFT MARKET – BY LIFT TECHNOLOGY

• Vectored Thrust
• Multirotor
• Lift Plus Cruise

Based on the lift technology, the STOL aircraft market is segmented into Vectored Thrust, Multirotor and Lift Plus Cruise. Due to its higher effectiveness and excellent endurance, the vectored thrust segment is anticipated to grow at a faster CAGR. Throughout the projected period, a larger compound annual growth rate is projected for the vectored thrust. The capabilities of this technology, such as its high endurance and increased efficiency, are credited with the segment's rise. Due to the increasing need for delivery applications, the multirotor segment is anticipated to expand rapidly during the projected period. Due to increased technological development by top manufacturers, the lift plus cruise market is estimated to expand significantly.

STOL AIRCRAFT MARKET – BY OPERATION

• Piloted
• Autonomous
• Semi-Autonomous

Based on the operation, the STOL aircraft market is segmented into Piloted, Autonomous and Semi-Autonomous. Since more money is being spent on research and development, the semi-autonomous segment will dominate the market. Due to increasing investments made by government organisations and manufacturers in the research and development of semi-autonomous electric vertical take-off and STOL aircraft, the semi-autonomous category is anticipated to account for the largest market share. Due to the expanding use of eVTOL/STOL technology's augmented reality (AR), internet of things (IoT), and artificial intelligence (A.I. ), the autonomous category is anticipated to experience the quickest growth over the projection period.

STOL AIRCRAFT MARKET – BY RANGE

• 0-200 Km
• 201-500 Km
• Others

Based on the range, the STOL aircraft market is segmented into 0-200 Km, 201-500 Km and Others.  Due to the increased demand for intercity travel, the 201-500 Km segment will experience significant growth. During the projected period, the 201-500 km segment is anticipated to dominate the global market. The need for long-range, vertical-takeoff and landing aircraft for intercity travel is increasing, which is driving the segment's growth. The growing use of long-range drones for delivery is anticipated to lead to significant development in the 0-200 km segment as well. Additionally, rising intracity commuter demand for urban air transportation is anticipated to support market expansion.

STOL AIRCRAFT MARKET – BY APPLICATION

• Commercial
• Air Taxi
• Delivery Drones
• Military
• Cargo Transport
• Combat Mission
• Emergency Medical Service
• Air Ambulance
• Medical Cargo Transport

Based on the range, the STOL aircraft market is segmented into Commercial, Air Taxi, Delivery Drones, Military, Cargo Transport, Combat Mission, Emergency Medical Service, Air Ambulance and Medical Cargo Transport. Due to the increasing development of delivery drones, the commercial segment will dominate the market. The commercial, military, and emergency medical services segments of the market are separated based on application. The commercial market is further divided into categories such as air taxis, drone delivery, and others. The military sector is further divided into combat missions and freight transfers. EMS is further divided into the categories of air ambulance and medical freight transfer. In 2022, the market is estimated to be dominated by the commercial sector. The market is anticipated to grow as delivery drones and air taxis continue to develop. Due to the increasing utilisation of VTOL/STOL aircraft for air ambulance applications in pandemic circumstances, the EMS segment is anticipated to expand quickly. Due to increased investments being made by the defence industries of several nations in the development of electric VTOL/STOL aircraft, the military sector is anticipated to experience significant growth.

STOL AIRCRAFT MARKET - BY REGION

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East
• Africa

By region, the STOL Aircraft Market is grouped into North America, Europe, Asia Pacific, Latin America, The Middle East and Africa. Due to the existence of important manufacturers like Joby Aviation, Bell Textron Inc., Kitty Hawk, and others in the United States, North America is predicted to dominate the global market. In addition, increasing government spending on VTOL and STOL aircraft development is anticipated to fuel industry expansion. For instance, Bell was given a contract by the U.S. Air Force Research Laboratory (AFRL) in May 2021 to conduct applied research on high-speed VTOL and STOL aircraft. The deal was valued at USD 950,000. Because STOL makers have boosted their investment, Asia Pacific is anticipated to expand at a faster CAGR. Additionally, the market is anticipated to develop as a result of the region's increasing urbanisation. Several European towns have joined the Urban Air Mobility (UAM) Initiative, a component of the European Innovation Partnership on Smart Cities and Communities, therefore it is anticipated that the European industry will experience significant expansion in the coming years (EIP-SCC). Due to the increase in VTOL and STOL aircraft startups in these regions, the Middle East & Africa and Latin America markets are predicted to grow.

STOL AIRCRAFT MARKET - BY COMPANIES

Some of the major players operating in the STOL Aircraft Market include:

1. JOBY AVIATION
2. HOVERSURF
3. CARTIVATOR
4. VERMONT TECHNOLOGIES
5. SKYDRIVE TECHNOLOGIES
6. AIRBUS INDUSTRIES
7. VOLOCOPTER
8. EHANG
9.  KITTY HAWK
10. LILIUM, OPENER
11. ANIVODE
12. WHEELS UP
13. AIRFLOW
14. ELECTRA
15. METRO HOP

NOTABLE HAPPENING IN THE STOL AIRCRAFT MARKET

EXPANSION- Helisul Aviation, a Latin American helicopter operator, bought 50 electric VTOL air taxis from Eve Urban Air Mobility in June 2021 for use in urban air mobility operations in Brazil. By 2026, deliveries are anticipated to start.

EXPANSION - In June 2021, Halo, a Directional Aviation brand founded by the alignment of Associated Aircraft Group (AAG) in the United States, placed an order for 200 four-passenger eVTOL air taxis with Eve Urban Air Mobility. By 2026, deliveries of the aircraft are anticipated to start.

EXPANSION - To begin time-sensitive zero-emission deliveries, United Parcel Service signed a contract with Beta Technologies in April 2021 to buy 150 e-VTOL aircraft. By 2024, aircraft deliveries are anticipated to start.

EXPANSION - In 2020, PNG Air purchased three ATR 42-600S STOL aircraft. To provide vital connections throughout the region, the Papua New Guinean airline will utilise the short take-off and landing (STOL) version.