Electric vertical takeoff and landing (eVTOL) vehicles are small aircraft that can move vertically and hover, so they can take off without a traditional runway. While not the floating magical flying cars envisioned for decades, the technology is incredibly impressive.
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With electric propulsion through fuel cells, motors and batteries, these vehicles offer a unique set of capabilities that are not possible with conventional airplanes.
Benefits of eVTOLs:
- Quieter than turbofan or prop-driven planes because of electric engines
- Widespread adoption would remove traffic congestion from roads
- No large-scale infrastructure such as airports and control towers needed
- Can serve smaller regional airports effectively and provide flights between two points that are too close for traditional aviation
- A number of manufacturers can create a variety of eVTOLs designed for different applications, from single-person use to passenger craft built for airline companies
But challenges remain before people have a BMW eVTOL in their driveways. Aviation is highly regulated, and eVTOL companies and regulators will need to determine how this new type of craft can operate within the Federal Aviation Administration (FAA) and other regulatory agencies’ guidelines. As eVTOL flights become more common, authorities would likely create set pathways, altitude rules and other parameters.
Innovation and funding will likely overcome any eVTOL challenges, just as they have for other technologies. Research firms like MarketsandMarkets predict massive eVTOL industry growth, with a $30.8 billion market size by 2030.
Top Startups
Popular startup investing platform StartEngine has hosted a number of innovative and leading eVTOL startups that ultimately raised millions from retail investors. StartEngine is an innovative platform that allows anyone to invest in top startups, including StartEngine itself.
LIFT Aircrafts, for example, had an incredibly successful $5 million raise. The company has been featured in 60 Minutes, and is one of the first eVTOLs in the world that has entered full production. They are also approved to fly under FAA Part 103 meaning costly FAA certification is not required.
Similarly, Doroni Aerospace raised over $1 million for their eVTOL, which has wheels and is made in the shape and style of a car. But the eVTOL has four large electric rotors on each corner of the car.
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AI Improving eVTOL Operations
Companies like avionics provider Avidyne use artificial intelligence (AI) to improve flight operations. It leveraged the AI software from Swiss startup Daedalean to create the PilotsEye™ Vision System. This solution scans the sky for airborne craft, weather issues and other hazards such as birds. It aids with guidance and can combine with other data sources to offer pilots a single, simple display.
AI can also enable autonomous eVTOL flight similar to how Tesla Inc. uses AI to anticipate events and learn over time. With AI and advanced vision systems, eVTOL aircraft can make adjustments faster than human pilots based on instant sensor data that calculates a range of conditions.
- As eVTOL use increases, AI can help in numerous ways. It can predict traffic congestion in real time, so operators can adjust their operating schedules and personal flyers can dynamically avoid crowded routings. AI can also analyze and predict usage patterns and demand, which can inform eVTOL providers’ production capacities. This will prove necessary for eVTOL rideshare scenarios, as the AI can improve dispatching and routing and reduce the costs for both riders and providers. Machine learning systems can also enable more precise and safe landings. It can use camera vision technology and mapping to guide eVTOL aircraft to small landing targets while also spotting obstacles and rerouting in real time if necessary.
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Public Companies Driving eVTOL Growth
Hundreds of startups are operating in the eVTOL space, ranging from smaller shops to publicly traded firms with deep pockets. Some of the leading players in the space include:
- Joby Aviation Inc. JOBY, a publicly traded firm building an advanced eVTOL prototype and crafting an aerial ridesharing service.
- Archer Aviation ACHR plans to build 6,000 eVTOLs by 2030 and counts United Airlines Inc. as an early customer with an order for 100 of the company’s aircraft.
In addition to startups pushing forward eVTOL adoption, there’s interest from firms like Airbus. The aerospace giant built a prototype for an all-electric fou- seat craft called the CityAirbus NextGen, which is designed to cruise at 75 mph. The entry of aerospace firms marks deeper interest and funding in the industry, which will fuel consolidation and further partnerships in the coming years.
As the eVTOL market grows, it provides opportunities for more startups like Active Safety System Technologies Inc., which is developing an Emergency Descent Arrest System (EDAS) to protect occupants in a crash. This multicapability system uses parachutes, airbags and rockets that fire to slow a descending vehicle before impact. The company is also developing a scaled-down version of the EDAS for delivery drones that will protect people on the ground from drone crashes.
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