Press release
The Passenger Drones Market is expected to reach USD 7,938.71 million by 2034, growing at a CAGR of 28.2%.
Passenger Drones Market
Market Overview:
Passenger drones refer to autonomous airborne vehicles which act as "flying taxis", carrying individuals from one destination to the next. Passenger drones have revolutionized the transportation system. With traffic snarls being a menace to society, passenger drones take advantage of the fact that aerial travel is much quicker compared to land.
Although they are compared to helicopters, passenger drones are more energy efficient than the latter as they have zero emissions due to the presence of a powerful propulsion engine. Passenger drones are the better alternative as they don't require runways for landing and take off do these functions vertically hence the name VTOL. Prototypes for the passenger drones have been around since 1980 but making them fully autonomous without the use of a pilot and releasing them into the market is being seen only recently.
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Growth Drivers:
• Technological advancements in the passenger drones have created awareness about the various benefits passenger drones have over other aerial vehicles such as helicopters. Properties such as being lightweight due to the vehicular body being made from carbon-fiber reinforced polymers and usage of electric propulsion systems have contributed to the flight efficiency of these vehicles.
• Governments and private organizations are both investing heavily in the passenger drone market as it is the future of public transport. Private companies such as Hyundai are shelling out a huge amount of money in order to implement research in this field. EU and NASA are releasing clear regulations so as to allow a fair ground for research.
Major Participants:
Passenger drones has gained a lot of traction as it is constantly undergoing innovation, helping governments as well as companies who are looking to upscale their existing products.
• AeroMobil
• Airbus S.A.S.
• Astro Aerospace
• Boeing
• Cartivator
• Ehang
• Joby Aviation
• Lilium
• Terrafugia
• Uber Technologies Inc.
• Volocopter GmbH
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Segmental Analysis:
• The passenger drone market is segmented by component outlook, by capacity outlook and region
• Based on component outlook, the market is categorized into hardware, software and services with the hardware segment dominating the component segment.
• The capacity segment is bifurcated into less than 100 kg and more than 100 kg. The segment more than 100 kg is expected to witness the fastest growth due to the growing demand for practical urban air mobility solutions.
By Component Outlook (Revenue, USD Million, 2020-2034)
• Hardware
• Software
• Services
By Capacity Outlook (Revenue, USD Million, 2020-2034)
• Less than 100 kg
• More than 100 kg
By End User Outlook (Revenue, USD Million, 2020-2034)
• Personal
• Commercial
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Regional Overview:
Passenger Drones Regional Outlook (Revenue, USD Million, 2020-2034)
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o Vietnam
o South Korea
o Indonesia
o Australia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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