These days, electric transportation is basically synonymous with light-duty electric cars and trucks. That is understandable. Sales of new electric vehicles (EVs) in the U.S. in 2023 surpassed one million for the first time and were up by over 50 percent compared to 2022. The momentum is expected to continue in 2024, with market research firm Cox Automotive forecasting that the combined purchases of EVs, plug-in hybrids, and hybrid vehicles account for nearly 25 percent of all sales.

While EVs are quickly becoming mainstream on global roadways, another form of electric transportation is also poised to rise—literally. Electric Vertical Takeoff and Landing, or eVTOL, aircraft are attracting significant investment and development as companies seek to commercialize their use. Recently, EPRI published a Quick Insight report, Look Up for eVTOL: Overview on the Flying Vehicles that Could Revolutionize Air Transportation, which outlines the drivers for eVTOL development, technological challenges that must be overcome, as well as grid infrastructure and equity considerations.

Though not widely known by the public or utilities, eVTOL development has been brisk in recent years. “This industry has gone from just talking about what an eVTOL should look like and what to do if we have eVTOLs to getting certifications and talking to the FAA (Federal Aviation Administration) about certifications and getting ready to commercialize their products as early as this year,” said Purandhya Vij, an EPRI Strategic Insights Associate and co-author of the Quick Insight report. Indeed, there are currently over 600 eVTOL concepts at some stage of development, and the entire market could reach nearly $18 billion by 2040, according to an analysis by the consulting company Deloitte.