A survey among private equity and venture capital professionals has revealed that 82 per cent expect public confidence in the eVTOL sector to increase over the next three years, with 18 per cent expecting a dramatic increase. The survey was conducted by Canada-based eVTOL developer Horizon Aircraft.

When asked for the reasons why they believe there is increasing public confidence, 80 per cent cited the fact that there is a growing acceptance that the first eVTOL flights will have qualified pilots, and this is followed by 69 per cent who referenced major developments around regulation of the sector. Other factors include more high-profile media coverage of successes in the sector, more successful passenger and cargo VTOL trials, and a growing number of larger companies becoming involved in the sector.

Horizon CEO Brandon Robinson says: “As public confidence in the eVTOL market grows, professional investors expect the sector's order book to grow and more investment to flow into the industry.

“Our research shows 63 per cent of private equity and venture capital professionals expect there to be over 430,000 air taxis in operation by 2040, and 88 per cent anticipate the sector will generate at least $30.7 billion by 2030. It is not surprising that our research shows 54 per cent of professional investors expect over $30 billion will be invested in the market by 2030, compared to $7 billion in 2021.”

Horizon Aircraft and its flagship Cavorite X5 design have been attracting significant interest from within the industry having won several grants and a US Department of Defense advanced research and development contract award, and with its large-scale prototype already flying.

Horizon Aircraft is currently running rigorous flight testing of its half scale prototype while continuing to develop a detailed design of a full-scale aircraft.

The Cavorite X5 will fly 98 per cent of its mission in a very low-drag configuration like a traditional aircraft. Flying most of the time as a normal aircraft is safer and will make the aircraft easier to certify than radical new eVTOL designs. The full-scale aircraft will also be powered by a hybrid electric system that can recharge the battery array in-flight while providing additional system redundancy. Comprehensive testing of this half scale aircraft will reduce technical risk moving forward as Horizon continues development of its full-scale aircraft.