Flying Taxi- Market Scope
Flying taxi is a type of aircraft which is well organized in operations and is intended for a shorter distance to travel. As well as it is also called a small commercial airplane used for short flights between localities not served by scheduled airlines. Flying taxis exist in a variety of shapes and sizes, with electric motors replacing jet engines and rotating wings and, in some cases, rotors replacing propellers. Despite the fact that all flying taxis are advanced air vehicles, not all advanced air vehicles are flying taxis. Take, for example, vertical take-off and landing vehicles (VTOLs) and electric VTOLs (eVTOLs). Flying vehicles can use both airspace and roads, whereas VTOLs and eVTOLs will use the airspace above metropolitan centers. VTOLs and eVTOLS, as their names suggest, can take off and land vertically, using the least amount of space. To take off, flying taxis nearly always require a short runway or an open area.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Uber Technologies, Inc. (United States), Volocopter GmbH (Germany), FAAC AG (Austria), Ehang (China), Kitty Hawk (United States), Lilium (Germany), A3 by Airbus (United States), Airbus S.A.S. (France and Beechcraft Corporation (United States) |
CAGR | 28.1% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market. Players are anticipated to focus on the development of electric compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that Japan Vendors will contribute to the maximum growth of Global Flying Taxi- market throughout the predicted period.
Uber Technologies, Inc. (United States), Volocopter GmbH (Germany), FAAC AG (Austria), Ehang (China), Kitty Hawk (United States), Lilium (Germany), A3 by Airbus (United States), Airbus S.A.S. (France and Beechcraft Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Boeing (United States), Embraer (Brazil) and Hyundai Motor Company (South Korea).
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 Flying Taxi- market by Type and Region with country level break-up.
On the basis of geography, the market of Flying Taxi- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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 2023.
Market Leaders and their expansionary development strategies
In November 2023, IndiGo parent co InterGlobe Enterprises and Archer Aviation to launch all-electric air taxi service in IndiaThe partnership is contingent upon regulatory approvals and clearancesIt aims to revolutionise urban mobility by providing a safe, sustainable, and low-noise electric air taxi serviceArcher's Midnight is a piloted, four-passenger electric vertical takeoff and landing aircraft
In November 2023, Volocopter, the German aircraft manufacturer pioneering air taxis, has put its much-anticipated air taxi launch in Singapore on hold indefinitely, reported the Straits Times. The eagerly anticipated initiative has been paused due to challenges in securing local partners willing to share the financial responsibility for the cutting-edge technology involved.
Influencing Trend:
Growing demand for ultralight electric aircraft
Market Growth Drivers:
Increase in congestion and overcrowding in cities and private air travel and Increase in urban population leading to increase in personal transit and freight movement
Challenges:
The need to ensure appropriate tracking systems for flying taxi and Concern about noise from aircrafts
Restraints:
High development and ownership cost of flying taxi
Opportunities:
Smart city models have created plenty of new business prospects for tech companies
Key Target Audience
Manufacturers of Flying Taxi, Suppliers of Flying Taxi, Research and Development (R&D) Companies, Research Organization and Others