Flying Taxis Market Segments, Driver, Restraints, And Trends
Flying Taxis Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Flying Taxis Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The global flying taxis market is projected to grow from $2.34 billion in 2023 to $2.93 billion in 2024, at a CAGR of 25.2%. Despite challenges such as urban congestion and regulatory hurdles, the market is anticipated to reach $6.63 billion by 2028, driven by the increasing need for innovative urban mobility solutions and advancements in eVTOL (electric vertical takeoff and landing) technology.
Increasing Traffic Congestion Drives Market Growth
Increasing traffic congestion on roads is a significant factor contributing to the growth of the flying taxis market. Traffic congestion, characterized by slower speeds and longer trip times, is a growing issue as urbanization increases. Flying taxis offer an aerial alternative, reducing ground-based traffic and enhancing urban mobility. For instance, a UK Department of Transport report from July 2023 indicated an 8.8% increase in motor vehicle traffic from 2021, totaling 323.8 billion vehicle miles. This congestion underscores the potential for flying taxis to alleviate road traffic and improve transportation efficiency.
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Major Players and Market Trends
Key players such as Hyundai Motor Company, The Boeing Company, and Airbus SE are focusing on product innovation and strategic collaborations. For instance, AutoFlight's launch of the Supernal S-A2, a high-payload firefighting vehicle, highlights the industry’s commitment to technological advancements. The Supernal S-A2, capable of transporting up to 800 pounds and flying 124 miles, showcases significant improvements in load capacity and flight efficiency.
Segments:
• By Type: Single Seat, Double Seats, Multi-seats
• By Aircraft Type: Multicopter, Quadcopter, Other Types
• By Propulsion Type: Parallel Hybrid, Electric, Turboshaft, Turboelectric
• By Application: Intercity, Intracity
Geographical Insights: North America Leading the Market
North America dominated the flying taxis market in 2023 and is expected to continue its lead due to favorable regulatory frameworks and significant investments in technology. Meanwhile, Asia-Pacific is anticipated to be the fastest-growing region, driven by rapid urbanization and increased demand for innovative transportation solutions.
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Flying Taxis Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Flying Taxis Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on flying taxis market size, flying taxis market drivers and trends, flying taxis market major players, competitors' revenues, market positioning, and market growth across geographies. The flying taxis market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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