Personal Air Vehicles (PAVs) Market to Exceed US $4.12 Billion by 2029, with 20.6% CAGR: The Business Research Company

The Business Research Company

The Business Research Company’s Personal Air Vehicles (PAVs) Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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What Is The Forecast For The Personal Air Vehicles (PAVs) Market From 2024 To 2029?
There has been a dramatic increase in the market size of the personal air vehicle (PAV) in the past several years. An escalation from $1.61 billion in 2024 to $1.95 billion in 2025, growing at a compound annual growth rate (CAGR) of 21.0%, is expected. The expansion during the historical period has been due to augmented testing of prototype aerial vehicles, heightened awareness of traffic relief advantages, the emergence of initial government-supported pilot programs, growing partnerships between aviation and technology companies, and an increase in media exposure of urban air mobility ideas.

In the upcoming years, the personal air vehicles (PAVs) market is projected to experience phenomenal expansion. The value of this market is predicted to escalate to $4.12 billion in 2029, growing at a compound annual growth rate (CAGR) of 20.6%. This growth during the projection period can be linked to an increasing demand for non-polluting urban transport, escalating acceptance of air mobility-as-a-service paradigms, the rise of battery-operated air vehicles, augmented governmental backing for air mobility foundation, and growing urbanization and traffic pileups. Dominant trends during this period are expected to be the enhancement in autonomous navigation systems, the creation of vertiport infrastructure in urban settings, breakthroughs in lightweight composite airframe materials, the cultivation of hybrid-electric propulsion blueprints, and development in real-time air traffic supervision technologies.

Download a free sample of the personal air vehicles (pavs) market report:
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What Are The Core Growth Drivers Shaping The Future Of The Personal Air Vehicles (PAVs) Market?
The burgeoning need for air travel is set to catalyze the expansion of the personal air vehicle (PAV) market in the foreseeable future. Aerial transport, involving the transportation of passengers or goods through the air with the aid of aircraft or flying vehicles, is on the rise due to urban crowding. As traffic delays increase and roads become more congested, the quest for speedier, overground travel solutions intensifies. Personal air vehicles (PAVs) accommodate this rising demand for aerial transport by offering immediate, direct travel, making them particularly suitable for urban and regional transit. They help to alleviate traffic congestion on the ground and reduce travel time, enhancing efficiency and convenience of transportation. For example, in 2023, Eurostat, a statistical office based in Luxembourg serving the European Union (EU), reported that the total passenger count travelling by air soared to 820 million in 2022, a surge of 119% from 374 million the previous year. As a result, this surging demand for aerial transport is fueling the growth of the personal air vehicles (PAVs) market.

Which Companies Are Currently Leading In The Personal Air Vehicles (PAVs) Market?
Major players in the Personal Air Vehicles (PAVs) Global Market Report 2025 include:
• Hyundai Motor Company
• The Boeing Company
• Airbus SE
• EmbraerX Inc.
• Moog Inc.
• Bell Textron Inc.
• Hanwha Systems Co. Ltd.
• Aston Martin Lagonda Global Holdings plc
• Lilium GmbH
• Archer Aviation Inc.

What Are Some Emerging Trends In The Personal Air Vehicles (PAVs) Market?
Leading firms in the personal air vehicles (PAVs) market are turning to strategic alliances as a means to broaden their manufacturing scope and augment their offerings in next-level air mobility solutions. Such strategic alliances bring together organisations' capabilities, resources, and knowledge to accomplish mutual goals, fostering long-lasting value, innovation, and an edge over competitors, rather than brief, fleeting benefits. For example, in June 2025, the US-based aviation company, AIR, entered into a partnership with EDAG Group, a German engineering firm, to facilitate the creation and manufacturing of the central aircraft structure for its AIR ONE eVTOL production model. The cooperative endeavor is envisioned to promote scalable, superior manufacturing for both manned and unmanned variations, equipped with a modular aluminum frame featuring advancements like folding wings and enlarged cabin space to cater to individual and business requirements. This collaboration expedites assembly and commercial scale-up, with initial structures already provided for continuous production and anticipated customer deliveries.

Comparative Analysis Of Leading Personal Air Vehicles (PAVs) Market Segments
The personal air vehicles (PAVs) market covered in this report is segmented

1) By Product Type: Electric Vertical Take-Off And Landing (eVTOL) Aircraft, Hybrid-Electric Aircraft, Hydrogen-Powered Aircraft
2) By Technology: Autonomous, Semi-Autonomous, Manual
3) By Distribution Channel: Direct Sales, Distributors, Online Platforms
4) By Application: Urban Air Mobility, Emergency Services, Recreational, Other Applications
5) By End-User: Individual Consumers, Commercial Operators, Government Agencies

Subsegments:
1) By Electric Vertical Take-Off And Landing (eVTOL) Aircraft: Multicopper, Lift Plus Cruise, Vectored Thrust
2) By Hybrid-Electric Aircraft: Parallel Hybrid, Series Hybrid, Turboelectric Hybrid
3) By Hydrogen-Powered Aircraft: Hydrogen Combustion Engine, Hydrogen Fuel Cell, Hybrid Hydrogen Systems

View the full personal air vehicles (pavs) market report:
https://www.thebusinessresearchcompany.com/report/personal-air-vehicles-pavs-global-market-report

Which Regions Are Dominating The Personal Air Vehicles (PAVs) Market Landscape?
In 2024, the global market report for Personal Air Vehicles (PAVs) identified North America as the leading region. The expected growth rate for this region has also been predicted. Other regions that were mentioned in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

Browse Through More Reports Similar to the Global Personal Air Vehicles (PAVs) Market 2025, By The Business Research Company

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