Air Taxis Market Insights
The global air taxis market was valued at USD 27.69 billion in 2017 and is expected to reach USD 80.50 billion by 2030, growing at a CAGR of 8.32% from 2017-2030. The market growth is expected to be positively influenced by shorter expected waiting time at the airports and flexibility of the consumers to choose their travel time according to their convenience.
Air taxis are anticipated to reduce congestions in the airport, provide personalized transport to the consumers, and offer cost benefits to the consumers. Air Taxis are compact and thus possess a number of advantages over the heavy aircraft. Factors such as access to remote locations with lack of proper infrastructure coupled with the trending concept of smart cities are further projected to augment the growth of air taxis market over the coming years.
Air Taxis Market: Component Insights
The software segment is anticipated to register the highest CAGR over the coming years as it serves as the basis of the overall air taxis market. The key operating players in the market are aiming to develop software in order to ensure smooth operational workflow of air taxis. For instance, Uber in collaboration with NASA has announced their plans to develop software for the management of air taxi routes in order to prevent air congestions.
Air Taxis Market: Aircraft Type Insights
The multicopter segment is expected to acquire a considerable share in the global air taxis market over the forecast period. The demand for the segment is expected to register the highest CAGR in the market over the coming years. The segmental growth is projected to be influenced by the economic benefits offered by it along with its ability to use shorter runways for ultra-short-haul journeys.
Air Taxis Market: Propulsion System Insights
Based on the propulsion system, the air taxis market is segmented into a parallel hybrid, electric, turboshaft, turboelectric among others. The parallel hybrid propulsion system is anticipated to grow at a significant CAGR over the coming years on account of higher fuel efficiency, longer driving range, and stringent emission regulations among others.
Air Taxis Market: Passenger Capacity Insights
The global air taxis market is segmented into one, two, four, six, fifteen, and thirty passengers, based on the passenger capacity. Four passenger’s segment is anticipated to hold the majority share in the market followed by six and two passenger capacity segment. Major manufacturers and designers are focusing on developing 4 passengers and 2 passenger vehicles.
Air Taxis Market: Regional Insights
North America is expected to witness high CAGR during the forecast period. There are various factors which are responsible for the growth of the market in the country such as availability of industry players, favorable government regulations, high traffic and many more. Los Angeles was ranked amongst one of the top-ranked cities that suffered the most total hours per driver lost due to congestion during peak travel times. Uber has recently announced its plan to launch air taxi in two of the most congested and larger cities of the U.S., namely, Los Angeles and Dallas by 2023. Currently, FAA handles around 43,000 commercial fights every day. Uber has planned to fly 10 times more per day just in Los Angeles.
Air Taxis Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Air Taxis Market Share & Competitor Analysis
Key players in the air taxis market are Airbus, Beechcraft Corporation, Boeing, Bombardier, Cessna, Dassault, Embraer, and Gulfstream among others. In February 2018, the Ehang 184 has already completed over 1,000 test flights with human passengers, including a 300-meter vertical climb, a weight test carrying over 230 kilograms, a routed test flight covering 15 kilometers, and a high-speed cruising test that reached 80.7 mph (130 km/h).