Report Overview
[ 170 + Pages Research Report ] Drone Taxi Market to surpass USD 1,401.9 million by 2031 from USD 9.87 million in 2021 at a CAGR of 64.2% in the coming years, i.e., 2021-2031.
Product Overview
Drone Taxis can be used to transport passengers within a city or between cities. They'll be outfitted with cutting-edge technology that's quiet, safe, and friendly to the environment. Drone taxis are meant to fly autonomously or remotely controlled, avoid obstructions, and take off, fly, and park with pinpoint accuracy every time. Drone taxis can be powered entirely by electricity or by a combination of electricity and gasoline. Reduced traffic congestion, sustainability, increased transportation efficiency, and noise reduction are just a few of the benefits of drone taxis.
Market Highlights
Global Drone Taxi Market is expected to witness a maximum CAGR of 64.2% over the forecast period
Smart city initiatives, which have created opportunities for technology providers, are a key factor driving the market's growth. The government and major corporations are investing in the design and construction of urban infrastructure.
Global Drone Taxi Market: Segments
The Fully Electric segment is expected to register maximum market share over the forecast period
The Fully Electric sector is expected to have the greatest market size over the projection period, based on propulsion type. This growth can be ascribed to rising demand for fuel-efficient, low-emission vehicles, high-performance, as well as greater endurance over traditional propulsion systems, allowing eVTOLs to fly for extended periods. Due to an increase in demand for high-performance and zero-emission vehicles, fully electric drone taxi manufacturers are likely to hold the biggest market share during the projection period.
The Ride Sharing segment is anticipated to account for the highest share of the market in future
During the forecast period, the Ride Sharing category is expected to have a bigger market share in the Drone Taxi market. This increase can be ascribed to crowded areas and the necessity for speedier transportation with well-defined travel routes to get from one place to another. Due to the significant number of air taxi operators and the predicted increase in the implementation of ride-sharing taxis after 2025, ride-sharing firms are expected to account for the greatest market share during the projection period.
The Intracity segment is predicted to gain higher CAGR over the forecast period
Intracity transportation will dominate the market, as the service will be useful for on-demand air transportation within key metropolitan areas as well as residential suburban destinations outside of or near city centres. Furthermore, top manufacturers are making significant investments in the infrastructure of next-generation intracity transportation.
Market Dynamics
Drivers
Increasing government initiatives is the key driver of the market growth
Technology vendors and allied service providers have seen huge growth prospects as a result of smart city models. With additional government initiatives and environmental campaigns holding center stage, technology suppliers and consultants have actively begun modeling creative ideas for urban infrastructure design and development based on conceptual modules.
The growing disposable income of consumers is propelling the market growth
Increased discretionary income and lower costs of personal autos have resulted in the rise in the number of automobiles, rising environmental issues. This is yet another driver of the growth of the Drone Taxi Market.
Restraint
Growing cybersecurity concern with the Drone Taxi is restraining the market growth
Because drone taxis rely on software, cybersecurity might be a major issue. Threats to onboard networks and code, attacks on vehicle/air traffic control (ATC) datalinks, and the introduction of hostile or inaccurate data for safety-critical decisions and/or machine learning are all problems with advanced aerial mobility.
Global Drone Taxi Market: Key Players
- Archer Aviation Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Bell Textron Inc.
- Guangzhou EHang Intelligent Technology Co. Ltd.
- Hyundai Motor Co.
- Kitty Hawk
- Lilium GmbH
- Terrafugia
- Textron Inc.
- Uber Technologies Inc.
- Volocopter GmbH
- Other Prominent Players
Global Drone Taxi Market: Regions
Global Drone Taxi Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. During the predicted period, North America is expected to increase significantly. Some of the important reasons driving the regional market's growth are possible spending in automotive and transportation, as well as potential breakthroughs in the drone sector. The market's regional expansion can be attributed to increased disposable income in markets like China and India, as well as government measures to cut emissions.
Impact of COVID-19 on Drone Taxi Market
The global impact of the COVID-19 epidemic has been unparalleled. The ramifications have been far-reaching, particularly in the aviation industry. As the drone taxi market is still in its early stages, it depends on a shared flight model to keep costs down.
Global Drone Taxi Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR –South Africa and Rest of the Middle East and Africa
Global Drone Taxi Market report also contains analysis on:
Drone Taxi Market Segments:
- By System
- Structure
- Avionics
- Interior
- Propulsion
- Other
- By Propulsion Type
- Fully Electric
- Hybrid
- Electric Hydrogen
- By Passenger Capacity
- Up to 2
- 3 to 5
- More than 5
- By Range
- Intracity
- Intercity
- By Autonomy
- Remotely Piloted
- Fully Autonomous
- By End-Use
- Ride Sharing Companies
- Scheduled Operators
- Hospital and Medical Agencies
- Private Operators
- Drone Taxi Market Dynamics
- Drone Taxi Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Drone Taxi Market Report Scope and Segmentation
| Report Attribute | Details |
| Market size value in 2021 | USD 9.87 million |
| Revenue forecast in 2031 | USD 1,401.9 million |
| Growth Rate | CAGR of 64.2% from 2021 to 2031 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | System, Propulsion Type, Passenger Capacity, End use, Range, Autonomy, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Archer Aviation Inc, Bell Textron Inc., Guangzhou EHang Intelligent Technology Co. Ltd., Hyundai Motor Co., Kitty Hawk, Lilium GmbH, Terrafugia, Textron Inc., Uber Technologies Inc., Volocopter GmbH, among others. |
Frequently Asked Questions (FAQ):
Drone Taxi Market to surpass USD 1,401.9 million by 2031 from USD 9.87 million in 2021 at a CAGR of 64.2% in the coming years, i.e., 2021-2031.
Drone Taxi Market to surpass USD 1,401.9 million by 2031 from USD 9.87 million in 2021 at a CAGR of 64.2% in the coming years, i.e., 2021-2031.
The Fully Electric segment is expected to register maximum market share over the forecast period is anticipated to hold the Drone Taxi Market
Drivers Increasing government initiatives is the key driver of the market growth
Drone Taxis can be used to transport passengers within a city or between cities. They'll be outfitted with cutting-edge technology that's quiet, safe, and friendly to the environment. Drone taxis are meant to fly autonomously or remotely controlled, avoid obstructions, and take off, fly, and park with pinpoint accuracy every time.
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