Market Viability of Electric Aircraft: Overcoming Challenges and Unlocking Potential

Abstract

The rising demand for sustainable transportation has prompted significant interest in the economic viability of electric aircraft, particularly in short-haul operations. However, while existing studies highlight cost advantages, there is limited research comparing the financial feasibility of electric aircraft across distinct operational contexts. This literature review addresses this gap by analyzing the cost-effectiveness of electric aircraft in three key scenarios: interstate routes or metro-regional deliveries, dedicated freight missions, and operations in geographically challenging regions. Findings indicate that electric aircraft offer substantial cost savings, with electricity priced at approximately $0.10 per kWh compared to jet fuel at $2 to $3 per gallon, making them particularly competitive for regional flights under 500 miles. In dedicated freight missions, aircraft such as the Eviation Alice operate at approximately $0.15 per mile—comparable to electric trucks but with the added advantage of bypassing road congestion. Additionally, electric motors, with fewer moving parts than conventional jet engines, could reduce maintenance costs by up to 50%. In geographically challenging regions such as Alaska and the Scottish Highlands, electric aircraft present a viable alternative by reducing reliance on costly ground transportation networks. While initial infrastructure costs, such as charging stations priced between $500,000 and $1 million per station, pose a challenge, government incentives and long-term fuel savings are expected to enhance adoption. This study contributes a comparative assessment of economic viability across multiple operational settings, emphasizing the role of infrastructure investment and technological advancements in shaping the future of electric aviation.