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Air Taxi Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Air Taxi
What Is the Projected Growth of the Air Taxi Market?
The market size for air taxis has robustly expanded in the past few years. Its escalation from $44.62 billion in 2024 to a projected $48.86 billion in 2025 registers a compound annual growth rate (CAGR) of 9.5%. This substantial growth during the historic period is credited to urban expansion, traffic density, an increasing need for time-saving travel, advancements in urban air mobility (UAM), the rise of new technologies and infrastructure, and concern for environmental sustainability and mobility.
The market for air taxis is predicted to experience robust expansion in the coming years, escalating to a value of $71.33 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 9.9%. The rise during the forecast period can be associated with factors such as surges in urbanization and megacity progression, increasing necessities for population mobility, regulatory assistance and frameworks, changing customer tastes, and alliances and partnerships. Some prominent trends predicted for this period include collaborations and partnerships, public perception and client acceptance, market rivalry and the appearance of new competitors, dedication to environmental sustainability, and market extension with a global scope.
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What Are the Different Air Taxi Market Segments?
The air taxi market covered in this report is segmented -
1) By Aircraft Type: Multicopter, Quadcopter, Others Aircrafts
2) By Service: Air Taxi Platform Services, Air Taxi MRO Services, Air Taxi Pilot Training Services
3) By Propulsion Type: Parallel Hybrid, Electric, Turboshaft, Turboelectric
4) By Range: Intercity, Intracity
5) By Mode Of Operations: Optionally Piloted, Piloted
Subsegments:
1) By Multicopter: Electric Multicopters, Hybrid Multicopters, Passenger-Carrying Multicopters
2) By Quadcopter: Electric Quadcopters, Autonomous Quadcopters, Payload-Optimized Quadcopters
3) By Other Aircrafts: Fixed-Wing Aircraft, Hybrid VTOL (Vertical Takeoff and Landing) Aircraft, Rotorcraft
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What Are the Primary Drivers Shaping the Air Taxi Market?
The escalation in traffic congestion is anticipated to propel the expansion of the air taxi market in the future. Traffic congestion is characterized by an area that is severely overcrowded with vehicles or people. Owing to the rising road traffic, air taxis have developed a fresh stream of revenue for airports, airlines, cities, hotels, and other enterprises, offering a new mode for passengers and parcels to reach their destination punctually. For example, based on the findings of a report by INRIX, an American company specializing in transportation analytics solutions, the 2023 Global Traffic Scorecard examined and categorized congestion and the evolution of micromobility usage trends, indicating an uptick of 8.3% from 2022 to 2023, followed by an 8.6% surge in Q1 2024 versus Q1 2023. Consequently, the growing traffic congestion is fuelling the ascension of the air taxi market.
Which Companies Are Leading in the Air Taxi Market?
Major companies operating in the air taxi market include Hyundai Motor Company, The Boeing Company, Airbus SE, Zhejiang Geely Holding Group Co. Ltd., Textron Inc., Embraer S.A., Beta Technologies Inc., Volocopter GmbH, Wisk Aero LLC, Skyports AeroSystems Ltd., Archer Aviation Inc., Neva Aerospace Ltd., Ehang Inc., Jaunt Air Mobility LLC, Zeva Aero Inc., Lilium Air Mobility AG, Skyway Air Taxi, Talkeetna Air Taxi Inc., Joby Aviation Inc., SpaceRyde Inc., Okona Aero Inc., Vertical Aerospace Ltd.
What Are the Major Trends Shaping the Air Taxi Market?
Innovative technological developments have surfaced as a prevailing trend in the air taxi sphere. The main players in this market are creating groundbreaking technologies to fortify their stance. Wisk Aero, an American lead in advanced air mobility, launched its 6th generation air taxi in October 2022. The unique characteristics of this air taxi include a more streamlined design with fewer components, manual flight control, and superior autopilot technology. This 6th generation air taxi is purposefully engineered to be the first of its kind to obtain certification from the Federal Aviation Administration (FAA).
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What Are the Top Revenue-Generating Geographies in the Air Taxi Market?
North America was the highest region in the air taxi market in 2024. The regions covered in the air taxi market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Air Taxi Market?
2. What is the CAGR expected in the Air Taxi Market?
3. What Are the Key Innovations Transforming the Air Taxi Industry?
4. Which Region Is Leading the Air Taxi Market?
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