About Flying Cars Market
The increasing congestion and overcrowding in cities has contributed to be a driving factor for the Global Flying cars market. However, 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 flying cars. Often, these individuals are the target audience for the Flying cars market. A flying car is a plane that has been modified for road use and is more likely to be called a ‘roadable aircraft’. Transportation facilities and systems have been seen as negligible to concurrent growth and development to suffice the needs of urban mobility.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 35.2% |
The market is fragmented with Flying car manufacturers who are devoting themselves to R and D of vital technologies VTOL (Vertical take-off and landing) or collaborate with technology, automotive, and aerospace manufacturers to boost their capabilities in a highly competitive ecosystem.The Vendors having a strong hold in the market are PAL-V. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Flying Cars Market market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
PAL-V (Netherlands), AeroMobil (Slovakia), TERRAFUGIA (United States), Lilium (Germany), EHANG (China), E-Volvo (Sweden), Tactical robotics (Israel), Carplane (Germany), Joby Aviation (United States), Malloy Aeronautics (United Kingdom), Hoversurf (United States) and Kitty Hawk (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Xplorair (Malaysia), Cartivator (Japan), Airbus (Netherlands), Uber (United States) and Aerofex (United States).
Segmentation Overview
AMA Research has segmented the market of Global Flying Cars Market market by Type (Manned Flying cars and Unmanned Flying cars), Application (Recreation, Military, Air ambulance, Police patrol and Air taxi services) and Region.
On the basis of Type, Flying cars are dominating the market in the year 2023On the basis of geography, the market of Flying Cars Market 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, Israel, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). United States region held largest market share in the year 2023.
Influencing Trend:
Increase usage of private air travel., Rapid urban development and increase in urban population. Advancement in technology, Growing demand for ultralight electric aircraft. and The inclusion of the Internet of Things (IoT) and blockchain to make flying cars safer.
Market Growth Drivers:
Increase in congestion and overcrowding in cities., Increase adoption of private air travel. and Increase in urban population leads to an increase in personal transit and freight movement.
Challenges:
Difficulty in designing and Engineering., High development and ownership cost of flying cars., Take-off and landing in urban areas. and Factors like human error, safety, fuel efficiency, Range, noise, security, and air traffic control.
Restraints:
Transportation facilities systems have been negligible in the concurrent growth and development to be sufficient enough to meet the needs of urban mobility.
Opportunities:
Increasing adoption of private air travel and Growing demand for ultra-light electric aircraft
Market Leaders and their expansionary development strategies
In June 2023, Suzuki Motor Corp recently announced its collaboration with SkyDrive to produce 'flying cars' or electric Vertical Take -Off and Landing (eVTOL) aircraft. The eVTOL aircraft will be manufactured at a Suzuki Group factory in Central Japan
In August 2022, Volkswagen has launched a fully working prototype for an automated flying car, an electric vehicle that the company describes as a "state-of-the-art passenger drone prototype". Its cross-shaped wing configuration measures 11.2 metres in length and spans 10.6 metres in width.
Key Target Audience
Flying Cars manufacturers, Government agencies, Flying Cars Suppliers and Distributors, Flying Cars dealers and Traders
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.