Passenger Drones Market will exhibit a CAGR of 27.74% and to cross a USD 800 million mark by 2024 | Industry Performing Players: AeroMobil, Boeing, Joby Aviation, Lilium, TERRAFUGIA, Uber Technologies

The report on the global Passenger Drones market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.

Global passenger drones market will exhibit a CAGR of 27.74% during the forecast period from 2018 to 2024 to cross a USD 800 million mark by 2024. A number of companies are currently exploring the use of passenger drones as air-taxis, air-cargo, or for air-ambulance services. The concept of passenger drones is relatively new. In 2017, the market was led by Europe and was followed by Asia Pacific and North America. The Asia Pacific region has become a lucrative region for the firms that develop passenger drones and related systems, due to the increasing focus of countries such as China, Japan, and South Korea.

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Key Players Covered

Lilium, EHANG, Airbus S.A.S., Cartivator, AeroMobil, Boeing, Volocopter GmbH, Joby Aviation, TERRAFUGIA, and Uber Technologies Inc. are among the leading market players that have been profiled in MRFR’s report on the global passenger drones market.
Presently, passenger drones have limited endurance in terms of flight durations, and there are various safety concerns regarding passenger drones which are expected to slow market growth. However, ongoing technological advances are expected to mitigate this to a great extent in the coming years. Another challenge the market faces is the lack of regulatory framework surrounding unmanned ariel passenger travel. The market is expected to witness government and consumer support, however, as it is likely to reduce vehicular pollution. this represents a significant opportunity in the future which will perpetuate further growth.

According to MRFR, Global Passenger Drones Market will exhibit a CAGR of 27.74% during the forecast period from 2018 to 2024 to cross a USD 800 million mark by 2024.

Market Segmentation

The global Passenger Drone Market has been segmented on the basis of capacity, application, rotor, and region in MRFR's report. The capacity of passenger drones has been segmented into up to 100 Kg and over 100 kg. At present, a majority of the passenger drones fall in the up to 100 kg category. However, once passenger drones are commercialized, it is likely that the over 100 kg segment will grow at a significant pace and will attain the leadership position over the assessment period.
Applications for passenger drones have been segmented into commercial, and personal. The commercial segment is expected to lead the market as there has not been any wide-scale implementation of passenger drones.

Rotors in passenger drones have been segmented into less than 10, and more than 10. The less than 10 rotors segment accounts for the largest share of the market. however, the more than 10 rotors segments are anticipated to register the highest CAGR during the assessment period.
Regionwise segmentation of the global passenger drones market divides it into North America, Europe, Asia Pacific, and the Rest of the World.

Regional Analysis

The European market, which is led by Germany, accounts for the market-leading share of the global passenger drones market. The region has a concentration of influential market players who are likely to play a significant role in the growth of the market in the coming decade. Increasing joint ventures and strategic collaborations combined with rapid ongoing technological developments are expected to bolster the European market's growth.
Led by the U.S, the North American market is another significant region with a large market share. The u.S is the most significant country in terms of having a concentration of market players. Relevant U.S government bodies are focussing on building a regulatory framework for the approval of passenger drones. Moreover, the region has several urban cities where traffic conditions are truly deplorable, and passenger drones could lead to significant decongestion of traffic, thus increasing consumer support and demand for passenger drones. Meanwhile, the Asia Pacific market is expected to grow at the highest CAGR during the review period. The presence of a large rapidly urbanizing population combined with rising disposable incomes and poor traffic conditions are expected to support market growth. China, Japan, and South Korea are among the most promising country level markets in the APAC.

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List of Tables

TABLE 1 MARKET SYNOPSIS
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 GLOBAL PASSENGER DRONES MARKET, BY COMPONENT, 2017 – 2024 (USD MILLION)
TABLE 4 GLOBAL PASSENGER DRONES MARKET, BY CAPACITY, 2017 – 2024 (USD MILLION)
TABLE 5 GLOBAL PASSENGER DRONES MARKET, BY APPLICATION, 2017 – 2024 (USD MILLION)
TABLE 6 GLOBAL PASSENGER DRONES MARKET, BY ROTOR, 2017 – 2024 (USD MILLION)
TABLE 7 GLOBAL PASSENGER DRONES MARKET, BY REGION, 2017-2024 (USD MILLION)
TABLE 8 NORTH AMERICA: PASSENGER DRONES MARKET, BY COUNTRY, 2017-2024 (USD MILLION)
TABLE 9 NORTH AMERICA: PASSENGER DRONES MARKET, BY COMPONENT, 2017-2024 (USD MILLION)
TABLE 10 NORTH AMERICA: PASSENGER DRONES MARKET, BY CAPACITY, 2017-2024 (USD MILLION)

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