Air Taxi Market Scope
Air taxi can offer faster, reliable, flexible, and energy-efficient, point-to-point transportation, quieter than any modern helicopter. The increasing congestion and overcrowding in cities have contributed to being a driving factor for the air taxi market. Additionally, the growth in the economy has led to an increase in high net worth individuals which in turn is encouraging the adoption of private air travel like air taxi.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Joby Aviation (United States), Archer Aviation (United States), Vertical Aerospace (United Kingdom), Lilium GmbH (Germany), Volocopter (Germany), SkyDrive Inc. (Japan), EHANG (China), AeroMobil (Slovakia), Terrafugia (United States) and Kitty Hawk Corporation (United States) |
CAGR | % |
Global Air Taxi is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Joby Aviation (United States), Archer Aviation (United States), Vertical Aerospace (United Kingdom), Lilium GmbH (Germany), Volocopter (Germany), SkyDrive Inc. (Japan), EHANG (China), AeroMobil (Slovakia), Terrafugia (United States) and Kitty Hawk Corporation (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Air Taxi market by Type , by Application (Commercial and Personal) and Region with country level break-up. On the basis of Type, Hybrid are dominating the market in the year 2022 where as Electric stood as second largest market share.
On the basis of application, Industrial segment is dominating the market in the year 2022 where as Personal segment stood as second largest market.
On the basis of geography, the market of Air Taxi has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
On 25th March 2022, SkyDrive Inc. and Suzuki announced the partnership for the commercialization of Air Taxi. With the partnership, both companies will start considering collaborating in areas of business and technology that include technology R&D, planning of manufacturing and mass-production systems, development of overseas markets with an initial focus on India, and promotion of efforts to attain carbon neutrality.
On 15th March 2022, AeroMobil launched the second model of its revolutionary flying car, the 4-seater AM NEXT, the world’s first production of Air Taxi. AM NEXT leverages the groundbreaking engineering of AM4.0 and it will provide significant time savings on regional routes in the 100-500 mile range, which are too far to drive and too short, or inconvenient, to fly. Also, it will offer no-hassle travel: door-to-door single-seat convenience and comfort, to work, rest, and play.
In Canada, air taxi operations are regulated by Transport Canada under Canadian Aviation Regulation 703. The Canadian definition of air taxi includes all commercial single-engined aircraft, multi-engined helicopters flown by visual flight rules by one pilot, and all multi-engined, non-turbo-jet aircraft, with a maximum take-off weight of 8,618 kg (18,999 lb) or less and nine or fewer passenger seats, that are used to transport people or goods or for sightseeing.
Influencing Trend:
Rapid Shift towards Urban Transportation Technology and The Popularity of On-Demand Air Services to Various Locations
Market Growth Drivers:
Increasing Application of Air Taxi for Business Travel and Demand for Transportation for a Single Passenger or a Small Group of Riders
Challenges:
Stringent Regulatory Guidelines on the Air Taxi Manufacturers
Restraints:
Concerns with the Higher Noise Levels and Harmful Emissions and Concerns Related to the Privacy of Urban Air Mobility Aircraft like air Taxis and Drones may Fly Above or Close to Places of Residence
Opportunities:
High Population Density and Increased Privately-Owned Vehicles can create Opportunities for the Market Growth
Key Target Audience
Air Taxi Manufacturers, Air Taxi Suppliers and Distributors, Regulatory Bodies, New Entrants, Potential Investors, Research and Development Institutes and Others