Longer Range Drone Taxi Market: Segmented: By Autonomy (Fully Autonomous, Remotely Piloted), By Propulsion Type (Fully Electric, Hybrid, Electric Hydrogen), By End-Use (Scheduled Operators, Ride-Sharing Companies, Hospitals & Medical Agencies, Private Operators), By Passenger Capacity (Up to 2 Passengers, 3 to 5 Passengers, More than 5 Passengers), By Range (Intracity, Intercity), By System (Avionics, Structure, Propulsion, Interior, Others) And Region - Global Analysis Of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Longer-Range Drone Taxi Market is expected to grow by USD billion by 2031 from USD billion in 2021 at a notable CAGR in the coming years, i.e., 2021-31.
Drone taxi is a new invention in the automobile sector, which is very helpful for the conveyance of people at the intracity or intercity level. There will be the provision of cutting-edge technology and the system will be eco-friendly, silent, and safe to use. The drone taxi is a bigger genre of toy drones. A drone taxi is a pilotless helicopter, which flies at roughly 130 km/h and lands anywhere as per the programmed data input. This helps people to reach their locations more rapidly. Rising demand for smart city initiatives, autonomous air ambulance vehicles & increasing traffic congestion are some of the key factors that are expected to aid in the growth of the drone taxi market during the forecast period.
The factors driving the growth of the Longer-Range Drone Taxi Market include rising demand for autonomous air ambulance vehicles & increasing traffic congestion with a greater emphasis on research and development activities by key players.
Longer-Range Drone Taxi Market is classified on the basis of Propulsion Type into Fully electric, Hybrid, and Electric hydrogen. The Propulsion segment holds the highest shares and led the drone taxi market in 2021. The fully electric segment is predicted to have the largest market size during the forecast period. This market is expected to impute the increasing demand for high-performance, low-emission, and fuel-efficient vehicles that are having better tolerance than other propulsion systems, enabling drone taxis to fly for a long time.
Based on Passenger Capacity, Drone taxis s classified into holding passenger capacity as, up to 2 passengers, 3-5 passengers, and more than 5 passengers. Drone taxis having 3-5 passenger capacity are expected to grow at the highest CAGR during the forecast period, since they are cost-efficient, at the time of paying for regular traveling & can decrease the probability of air traffic.
Rising Number of Smart City Initiatives
The rising number of smart city inventiveness worldwide is expected to lead the growth of the drone taxi market in the forecast period. Many blooming scopes for suppliers of technology and associated service providers have been uplifted by smart city models. Along with growing government inventiveness, as well as a rising kingpin on the environment & human health, technology suppliers are prominently developing keys for architecture design & evolution of modern cities.
Increasing Number of Autonomous Air Vehicles
The speed of air taxis is up to 180 mph at altitudes and the height range is from 1,000 to 2,000 feet. The start-ups like Uber, as well as big car and airline industries, are struggling for a piece of this industry. Electric air taxis are having the quality characteristic to decrease the prices of operation and maintenance. Jet engines are replaced by electric motors and vertical takeoff and landing (VTOL) aircraft are attributed to spinning wings. Instead of propellers, the rotors are set for long runways in some cases.
Increased Cybersecurity concerns
As drone taxis are depending on the software, cybersecurity will be a critical susceptibility. As per vulnerability, advanced aerial mobility will be dependent on the operation of other software-intensive systems like ATC, GPS, and other forms of shared communication systems.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Longer-Range 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. North America is expected to be growing at the highest CAGR during the forecast period. Increasing developments in this region are expected to create new opportunities for key players in Longer-Range Drone Taxi Market
The global spread of the COVID-19 pandemic has had a negative impact on Longer-Range Drone Taxi Market. The consequences are wide-reaching, particularly for aviation. Before COVID-19, the drone taxi industry experienced a magnificent growth course. In 2020, over USD 1 billion was funded in this field, with Toyota being dominant for USD 590 million investment in Joby Aviation (US) and EHang's (China) USD 650 million IPO valuation. In 2019, the Federal Aviation Administration (FAA) in the US declared that it was occupied with producers of more than 15 eVTOL aircraft. Uber Air, EHang, Volocopter, Joby Aviation, and Lilium have flagged their plan to begin professional passenger working within the next three to five years.
|Market size value in 2021||USD billion|
|Revenue forecast in 2031||USD billion|
|Growth Rate||Notable CAGR 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||Autonomy, Propulsion Type, End-Use, Passenger Capacity, Range, System, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Aloft, Airbus, Airspace Experience Technology, Boeing, Ehang, Joby Aviation, Lilium, Textron Inc, Transcend Air, Volo copter, and Other prominent players.|
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