The Global Air Taxi Market size is expected to be worth roughly USD 7,234 Million by 2030, growing at a CAGR of more than 26.8% during the projected timeframe of 2022-2030, according to Ameco Research
An air taxi is a type of on-demand aerial transportation vehicle that transports passengers across short distances. An air taxi is a tiny low-cost carrier that does on-demand short flights. An aerial taxi is a conceptual vehicle designed to carry people from one location to another via air. These vehicles, often known as flying taxis, provide a restricted number of passengers with a short trip throughout or between urban areas. Aerial taxis launch and land vertically, flying hundreds of meters above the ground. These taxis are usually powered by a turbojet at the back and are used to fly over traffic congestion as well as between high-rise buildings. Aerial taxis, like helicopters, do not require a track, however, unlike helicopters, they are silent and economical. During the forecast timeframe, variables such as the desire for an alternate transportation mode and the continuing concern about road congestion in metropolitan centers are likely to fuel the air taxi market growth.
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Global Air Taxi Market Trends
Currently, there is a global increase in demand for improved and more effective transportation networks. Moreover, the rising number of automobiles on the road that have an adverse effect on the environment is one of the primary reasons positively affecting the industry. Aside from that, the enormous expansion of the aerospace and transportation industries is fueling the air taxi market size. Further, market leaders are constantly supporting development and research initiatives in order to introduce a variety of technological breakthroughs. They are also establishing a multimodal transport system that is linked and connected, providing users with on-demand air mobility, product delivery, as well as emergency services. In conjunction with the growing government, this launches the supply of air taxi companies in metropolitan areas, promotes smart city initiatives, and promotes the aviation industry globally, resulting in a healthy market outlook. Additional important reasons expected to boost the market include the debut of an electric air taxi capability of taking off or landing vertically, as well as the advancement of full-scale test flights, the all-electric, self-piloted airplane as an alternative means of transportation.
Furthermore, growth aspects such as increased attempts to improve access to metropolitan regions and government activities connected to smart city development are projected to boost demands for the air taxi market value in the future years. Furthermore, growing traffic congestion in big areas like California has created the profitable potential for vertical transportation in the presence of air taxis. However, obstacles such as the huge fare gap between commercial flights and on-road transport, as well as tight flying licensing regulations, may stymie the air taxi market revenue over the coming decade.
Air Taxi Market Segmentation
Ameco Research has fragmented the global air taxi market by component, aircraft type, and propulsion type. By component, the industry is sub-divided into software & services, and hardware. According to the air taxi market forecast, the hardware segment is expected to grow extensively in the global air taxi market share over the next few years.
In term of aircraft type, the market is classified into quadcopter, multicopter, and others.
Based on the propulsion type, the market is divided into parallel hybrid, turboshaft, electric, and turboelectric. The growing emphasis on the usage of fuel-efficient automobiles with long-distance service is increasing demand for air taxi parallel hybrid & turboelectric propulsion systems.
Air Taxi Market Regional Outlook
The global air taxi market is divided into several geographical regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. According to an air taxi industry analysis, North America is predicted to dominate the market throughout the forecast period. Due to the availability of the requisite aviation infrastructure for urban air mobility, the North American region will be an early investor in air transportation services in the next years. The United States, a prominent market in the region, is expected to generate growing support for Urban Air Mobility in the region. Along with significant consumer spending, better evolved air traffic management infrastructure and an increasing focus on unmanned traffic management are likely to contribute to the region's market growth, as these are the ideal criteria for the functioning of air taxi services. Several US-based aerial taxi companies, including Wisk Aero, Joby Aviation, and Kitty Hawk Corporation, have already been actively creating frameworks for regional air taxi operations.
Asia Pacific is anticipated to witness a substantial CAGR owing to the influence of emerging markets such as Japan, China, and India. Due to escalating traffic jams, rising demand for speedier forms of transportation, and rising income levels, these countries offer enormous growth potential.
Air Taxi Market Companies
Some of the most notable worldwide air taxi market players are Airbus, Boeing, EHANG, Beechcraft Corporation, Dassault Aviation SA, Volocopter GmbH, and Uber Technologies, Inc.
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