Press release
Flying Cars Market Set for Exponential Growth, Expected to Reach $993.56 Billion by 2028
Flying Cars Market Report
Flying Cars Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $993.56 billion In 2028 At A CAGR Of 48.0%:
The flying cars market size has grown exponentially in recent years. It will grow from $133.07 billion in 2023 to $207.23 billion in 2024 at a compound annual growth rate (CAGR) of 55.7%. The growth in the historic period can be attributed to early challenges and learnings, initial infrastructure planning, visionary concepts and popular culture, regulatory and safety considerations, pioneering research and investment.
The flying cars market size is expected to see exponential growth in the next few years. It will grow to $993.56 billion in 2028 at a compound annual growth rate (CAGR) of 48.0%. The growth in the forecast period can be attributed to regulatory framework development, infrastructure investment for skyports, market competitiveness and innovation, consumer adoption and demand, global investment and policy support. Major trends in the forecast period include consumer demand and acceptance, market competitiveness and investment, advancements in battery technology, infrastructure development for airports, urban air mobility (UAM) initiatives.
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Flying Cars Market Major Segments
The flying cars market covered in this report is segmented -
1) By Product: Manned Flying Cars, Unmanned Flying Cars
2) By Capacity: 2-Person Sitter, 3 And 4-Person Sitter, 5-Person Sitter
3) By Application: Military, Commercial Or Civil
Key Driver - Surging Demand For Eco-Friendly Transportation Boosts The Flying Cars Market
The increase in demand for environmentally friendly transportation will propel the growth of the flying cars market during the forecast period. Flying cars use vertical take-off and landing (VTOL) to take off cars. According to a 2021 survey by IBM, 77% of the respondents agreed that individual carbon footprint reduction was important and they were looking for sustainable transport options. &1% of the respondents believed EVs to be a sustainable option for daily transport. Flying cars are a lot more efficient over longer trips than shorter trips when compared to passenger cars. Therefore, the increasing demand for environmentally friendly transportation is expected to drive the growth of the flying car market.
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Prominent Trend - Advanced Technology Reshapes The Landscape Of Flying Cars
The rapid adoption of advanced technology is shaping the flying cars market. Major companies operating in the flying cars sector are focused on adopting advanced technology such as the fast-developing distributed electric propulsion (DEP) technology which plays a role in efficiency, helps with quieter take-offs, and hovering. For instance, in October 2022, XPeng, a Chinese electric car manufacturer introduced an electric vertical take-off and landing (eVToL) flying car in Dubai. The eVToL flying car is crafted to mimic a conventional automobile when operating in drive mode. Once in the air, during flight mode, control is managed using a steering wheel and a right-hand gear lever.
Flying Cars Market Players
Major companies operating in the flying cars market report are The Boeing Company, Airbus SE, Joby Aviation Inc., Lilium GmbH, Volocopter GmbH, Vertical Aerospace Ltd., Aurora Flight Sciences Inc., Greenwing International, PAL-V International BV, Uber Technologies Inc., Pipistrel d.o.o. Ajdovščina, SkyDrive Inc., Opener BlackFly, Terrafugia Inc., Alef Aeronautics Inc., Kitty Hawk Corporation, Urban Aeronautics Ltd., Robinson Aircraft Ltd., AeroMobil s.r.o., Moller International Inc., ARC Aerosystems Inc., Aeromot Aeronaves e Motores S.A., Neva Aerospace Ltd., Workhorse Group Inc., Alakai Technologies Corporation, Advanced Tactics Inc., HopFlyt Venturi, Zunum Aero Inc., Guangzhou EHang Intelligent Technology Co. Ltd., Jaunt Air Mobility LLC, Macro Industries Inc., Tesla Inc., Toyota Motor Corporation
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Largest And Fastest Growing Region In The Market
North America was the largest region in the flying cars market in 2023. The regions covered in the flying cars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Flying Cars Market Report Structure
3. Flying Cars Market Trends And Strategies
4. Flying Cars Market - Macro Economic Scenario
5. Flying Cars Market Size And Growth
…..
27. Flying Cars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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