Flying Taxi Market: Overview Of Key Market Forces Propelling And Restraining Market Growth

A Flying Taxi is concept vehicle build to provide transportation solutions to commuters from one end to the other via air. Increasing congestion on roads and rising prices of natural gas are key factors driving the demand for alternatives to road transportation. The air medium transportation is an alternate solution to road and rail medium transportation, as air transportation is efficient and less time consuming, as compared to the other modes of transportation.

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A flying taxi can reduce travel time of commuters daily travelling over 100 km in urban traffic by car or public transport. These consumers are the target audience for the flying taxi market. Increased research and development on flying cars and bikes is a major factor boosting the flying taxi market, as several OEMs and countries are focusing on the development of flying modes of vehicles for quick, efficient, reliable, cost-effective, and intelligent transportation solutions.

The flying taxi market is estimated to expand during the forecast period, as the urban traffic is increasing and the number of vehicles on roads is rising rapidly, which is leading to heavy congestion on roads. This, in turn, is boosting the emission of CO2 in the atmosphere. Flying taxis are a suitable solution to overcome the issues mentioned above.

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The flying taxi is expected to carry more than 4 passengers on a single run (depending upon the size and type of vehicle). The size of the hover-bike is bigger than that of a standard bike and hover-board. Hover bikes and flying cars are suitable as flying taxis, as they are compact and efficient which is ideal while maneuvering through urban areas.

Moreover, technological enhancements in the automobile industry and the adoption of various time-saving and cost efficient alternatives for daily commute are key factors driving the flying taxi market. However, regulatory norms in various countries and geographic, infrastructural, and economical conditions of countries are likely to hamper the demand for flying taxis.

The global flying taxi market can be segmented based on by propeller type, fuel, vehicle type, technology, and region. In terms of propeller type, the market can be divided into dual propeller, and multi propeller. In terms of fuel, the flying taxi market can be split into natural gas, hybrid, and electric. Based on the vehicle type, the flying taxi market can be segregated into hover bikes and flying cars. Based on technology, the flying taxi market can be classified into autonomous, semi-autonomous, and manual.

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Based on region, the global flying taxi market can be segregated into Asia Pacific, Middle East & Africa, Europe, Latin America, and North America. North America is a major market for the flying taxi, as the U.S. government is investing heavily into new technologies and innovative solutions for easy commute and transportation solutions. The Government of the UAE has initiated to develop the infrastructure and implement the intelligent transportation solutions for easy and hassle-free commute of people.

Key players operating in the global flying taxi market are Joby Aviation, EHANG, TERRAFUGIA, Opener, Volocopter, Kitty Hawk’s, Airbus, AeroMobil’s, and Uber’s VTOL.

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