Aircraft have been an asset to humankind since their inception as they have helped us achieve the heights we could not deem possible. With the advancement in technology and engineering, a plethora of aircraft have been developed which have unique characteristics. Rotorcraft and fixed-wing aircraft are the two major types of aircraft, in which rotorcraft are capable of vertical takeoff and landing, whereas fixed-wing aircraft require a runway and are mainly used for the commercial air travel covering long distance. Fixed-wing aircraft lack the hovering ability of the rotorcrafts and hence, cannot be used in any area without platforms to carry out emergency tasks. Hence, there has been an inevitable need to develop an aircraft with the combined qualities of rotorcraft and fixed-wing aircraft.

The emerging technologies have made it possible to solve the problems associated with the existing fixed-wing aircraft, rotorcraft and multi-rotors. This new hybrid design is called fixed-wing Vertical TakeOff and Landing (VTOL) aircraft, which can takeoff and land vertically, and post takeoff they can transit into horizontal flight to attain the desired speed and altitude. In the wake of recent natural calamities, viz. Nepal earthquake, the VTOL aircraft have been a boon for the search and rescue as well as relief operations in the area. Due to the earthquake, there was only a small number of useable airfields that could handle military sized aircraft in Nepal, and to speed up the process, the U.S. military had used four VTOL aircraft for rescue and relief operations across the country.

The prominent user of VTOL aircraft is the military which enables them to carry their troops in any location as and when required. The drone industry is another user which has utilized this hybrid concept for their Unmanned Aerial Vehicles (UAVs). Several companies have successfully developed and introduced their efficient fixed-wing hybrid VTOL UAVs in the market, which can be deployed in various industries such as military, commercial, and law enforcement. The companies and the major players are investing in the research and development of this hybrid technology to make it more efficient. The primary focus of the manufacturers is to develop electric VTOL aircraft which will be cost effective and can be deployed in the commercial industry, to further enhance the endurance for the requirement of longer flights.

The global fixed-wing VTOL aircraft market is being driven by the growing demands for fixed VTOL aircraft for defense applications, faster travel and accessibility to remote areas, as well as increasing use of VTOL aircraft in agricultural industry. The global market reported a revenue of $1.98 billion in 2016, and this is expected to grow exponentially in the coming years. The commercial segment is expected to register the highest revenue by 2026, whereas, the military segment is expected to grow at the highest rate owing to its increasing usage in the Inspection, Surveillance, and Reconnaissance (ISR) applications.

BIS Research has conducted an extensive market research on ‘Global Fixed-Wing VTOL Aircraft Market - Analysis and Forecast 2017-2026’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.

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