Flying Taxi Market Analysis, Region & Country Revenue Share, & Forecast Till 2026 | Reports And Data

Published : 3 years ago, on 21/07/2021

According to the current analysis of Reports and Data, the global Flying Taxi market was valued at USD 1.3 Billion in 2018 and is projected to grow at a CAGR of 28.59% from 2019 to 2026. Rising need for faster means of transportation is the major factor boosting the growth of the market over the forecasted period. Increasing government initiatives globally is another factor boosting the growth of the Flying Taxi market. However, the lack of sufficient regulatory framework will act as a hindrance for the growth of the market over the forecasted period.

Rising urban population leads to an ever increasing amount of traffic on the roads. For distances of more than 20 kilometers, a flying taxi acts as an attractive solution to a conventional taxi, as it can bypass the congested roadway on the ground. Major investments are being carried out by market players to develop better battery technologies. This will lead to an increase in the maximum distance that the flying taxi can be flown to. Flying taxi adds a third dimension to the urban transportation matrix. It also acts as an attractive solution for areas where merely increasing the two dimensional capacity would in no way solve the existing traffic situation. Autonomous flight technology is one of the factors that will lower the operating costs of the flying taxis as the cost rendered due to a pilot will become obsolete. The extra free seat in each aircraft will also boost the potential by facilitating the increase in the payload.

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Key participants include

Airbus (Netherlands), Beechcraft Corporation (U.S.), Boeing (U.S.), Dassault Aviation SA (France), EHANG (China), Volocopter GmbH (Germany), Uber (U.S.), Embraer (Brazil), Gulfstream (U.S.), and Cessna (U.S.).

Further key findings from the report suggest

eVTOL technology will witness fast growth over the forecasted period.

Lift and cruise and tilt-wing technologies will combine with more durable batteries thus letting vehicles fly up to 250kms as well as carry more than three passengers at the same time.

European airspace is regulated, especially in the region near major airports. The challenge in such areas will be to adapt existing laws and regulations to accommodate the peculiarities of flying.

With the rise in popularity of the flying taxi market, the demand for it for leisure purpose will also increase in comparison to the flights done for work purpose.

North America dominates the market with a share of over 40% in 2018. Presence of prominent market players like Uber, Boeing, and Beechcraft Corporation among others, is a major factor responsible for the high share of the market. The region is forecasted to be the largest region until the year 2026.

Uber, which is one of the market players has partnered with Bell to launch the Nexus VTOL aircraft, that is being developed as the preferred platform for Uber`s Elevateflying taxi program.

Leading players in the market are focused on investing and improving their R&D capabilities in order to offer the latest technologies to gain a competitive advantage.

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For this report, Reports and Data have segmented into the global Flying Taxi market on the basis of resin type, composite phases, industry vertical, and region:

Component (Revenue, USD Million; 2016–2026)

Hardware

Software

Propulsion (Revenue, USD Million; 2016–2026)

Parallel Hybrid

Electric

Turboshaft

Turboelectric

Others

Aircraft type (Revenue, USD Million; 2016–2026)

Multicopter

Side-by-side aircraft

Tiltwing aircraft

Tiltrotor aircraft

Others

Passenger Capacity (Revenue, USD Million; 2016–2026)

Less than 3

3 to 10

More than 10

Maximum Distance (Revenue, USD Million; 2016–2026)

Less than 50kms

51 to 200kms

More than 200kms

Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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