DUBLIN, July 30, 2021--(BUSINESS WIRE)--The "Drone Taxi Market by Range (Intercity, Intracity), Propulsion (Fully Electric, Hybrid, Electric Hydrogen), Autonomy (Fully Autonomous, Remotely Piloted), Passenger Capacity (Up to 2, 3 to 5, More than 5), System, End Use & Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Drone Taxi market size is forecasted to grow from an estimated USD 74 million in 2025 to reach USD 860 million by 2030, at a CAGR of 63.0% from 2025 to 2030.
The recent technological developments in the drone taxi market hold a promising future whereby cities are expected to adopt next-generation transportation systems using unmanned systems. Cities around the world are facing transportation challenges due to the increasing road traffic which causes major problems for mass transportation. Moreover, growth in disposable income coupled with the reducing cost of automobiles for personal use have led to an increase in the number of automobiles, thereby increasing environmental concerns. Automobiles are among the prime sources of greenhouse gases being emitted into the earth's atmosphere resulting in global warming which is expected to increase the demand for electric drone taxis.
The impact of the COVID-19 pandemic has been unprecedented on a global scale. The consequences have been wide-reaching, particularly for aviation. The drone taxi market is still in its formative stages; hence, it relies on a shared flight model to make the economics work.
Based on Passenger Capacity, DroneTaxis having Passenger Capacity of 3 to 5 is expected to grow at the highest CAGR during the forecast period
Drone taxis with a passenger carrying capacity of 3 to 5 will lead the market as they will be more cost-efficient when it comes to paying for regular commute and can reduce the possibility of air traffic. Also, the segment has promising investments and developments by companies like Lilium (Germany), Uber Elevate (US), and Ehang (China).
Based on the Range, the Intracity segment to account for the largest share of Drone Taxi during the forecast period
Intracity transportation will lead the market, as the service will be helpful for on-demand air transportation within core urban areas and residential suburban destinations outside cities or around city centers. Manufacturers like Volocopter (Germany), Airbus (US), KittyHawk (US), Lift (US), Ehang (China), and Boeing (US), among others, are heavily investing in the development of next-generation intracity transportation.
Europe is forecasted to account for the largest share of the Drone Taxi market in 2025.
Europe is expected to account for the largest share (46%) of the drone taxi market in 2025. In this region, a few urban communities have joined the Urban Air Mobility (UAM) Initiative, which comprises the European Innovation Partnership on Smart Cities and Communities (EIP-SCC). The initiative focuses on generating a business opportunity for metropolitan air portability. The guidelines for the Urban Air Mobility industry are also being drafted. According to the European Union Aviation Safety Agency (EASA), air taxicabs and ambulances can become a reality in the European airspace by 2026.
Growing Demand for Alternative Mode of Transportation in Urban Mobility
Smart City Initiatives
Improved Regulatory Framework
Safety Concerns During Drone Taxi Operations
Limited Adoption Due to Political, Economic, Social, Technological, and Legal Factors
Intracity Transportation: Short-Term Opportunity
Increasing Demand for Autonomous Air Ambulance Vehicles
Technological Advancements in Sector
Zero Emission Initiatives
Concerns Related to Lithium Batteries
Restrictions on Commercial Use of Drones
Implementation of Required Ground Infrastructure
Lack of Skilled and Trained Operators
Airspace Experience Technology
Micor Technology LLC
Varon Vehicles Corporation
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Laura Wood, Senior Press Manager
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