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The Worldwide Drone Taxi Industry is Expected to Reach $860 Million by 2030 - ResearchAndMarkets.com

·3-min read

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.

Market Dynamics

Drivers

  • Growing Demand for Alternative Mode of Transportation in Urban Mobility

  • Smart City Initiatives

  • Improved Regulatory Framework

Restraints

  • Safety Concerns During Drone Taxi Operations

  • Limited Adoption Due to Political, Economic, Social, Technological, and Legal Factors

Opportunities

  • Intracity Transportation: Short-Term Opportunity

  • Increasing Demand for Autonomous Air Ambulance Vehicles

  • Technological Advancements in Sector

  • Zero Emission Initiatives

Challenges

  • Concerns Related to Lithium Batteries

  • Restrictions on Commercial Use of Drones

  • Implementation of Required Ground Infrastructure

  • Cybersecurity Concerns

  • Lack of Skilled and Trained Operators

Companies Mentioned

  • Airbus SAS

  • Airspace Experience Technology

  • Aliptera

  • Aloft

  • Boeing

  • Comac

  • Ehang

  • Hover

  • Joby Aviation

  • Karem Aircraft

  • Lift Aircraft

  • Lilium

  • Micor Technology LLC

  • Moog

  • Opener

  • Pipistrel

  • Scienex

  • Skydrive Inc

  • Tecnalia

  • Textron Inc

  • Transcend Air

  • Varon Vehicles Corporation

  • Volocopter

  • Xeriant

  • Zhejiang Geely

For more information about this report visit https://www.researchandmarkets.com/r/cppnwr

View source version on businesswire.com: https://www.businesswire.com/news/home/20210730005418/en/

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