Air taxi is a well-organized aircraft and is an easy solution to commute over shorter distances. Its compact size and operational capabilities allow it to land and take-off from shorter runways. It is expected to be operated via smaller local airports with less or no air traffic, and which are closer to passenger’s destination. Additionally, the smaller size of air taxies expands their reach to remote locations and places with improper infrastructure.
New York, NY -- (SBWIRE) -- 02/12/2020 -- Air taxi is a type of aircraft that is well organized in operations and is intended for shorter distance to travel. The concept of air taxi was first introduced way back in 2001 by NASA and aerospace industry study on the potential Small Aircraft Transportation System (SATS) and rise of light-jet aircraft manufacturing in the U.S. Later with the increased number of vehicles running on the road followed by the increased traffic congestion, the demand for better and efficient transportation system has increased leading the introduction of air taxi across the globe. Various companies having experience in aviation and transportation industry have come up under several collaborations for the development of air taxi to be implemented across the globe.
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The key players analyzed in the air taxi market include Airbus S.A.S., Beechcraft Corporation (subsidiary of Textron Aviation), Boeing, Dassault Systèmes, Embraer, EHANG, Hyundai, Lilium, Volocopter GmbH, and Uber Technologies.
Increase in government initiatives and rise in investments by the top players in the aviation industry boost the growth of the global air taxi market. Moreover, increase in development and innovations further fuels the market growth. In addition, positive impact of developments carried out by numerous startups and top players increase the adoption and growth of the air taxies across the globe.
The factors such as need for an alternative mode of transportation and increased road traffic congestion drive the growth of the air taxi market. However, high differential fare and stringent regulations for aviation license is expected to hamper the market growth. Further, government initiatives for the introduction of air taxi is expected to create numerous opportunities for the growth and expansion of market.
Moreover, factors such as increasing efforts on providing access to urban areas, and government initiatives pertaining to smart city projects also expected to bolster the demand for the air taxi market over the coming years. Additionally, increasing traffic congestion in developed cities such as Los Angeles already have lucrative opportunities for vertical mobility in the form of air taxis. However, factors such as the high differential fare between air taxi and on-road transportation, and stringent regulations related to aviation license may hamper the market growth over the next decade.
The Air taxi market has been segmented based on component, aircraft type, passenger capacity, propulsion type, and region. Based on component, the market has been segmented into hardware, and software & services. The software & services segment is expected to grow swiftly over the forecast period. The service providers are focusing to develop software, which ensure smooth operation and deployment of air taxis by managing the air routes and minimizing air congestion.
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o Parallel Hybrid
By Aircraft type
By Passenger capacity
o More than six
Based on propulsion type, the Air taxi market has been segmented into sub-divided into parallel hybrid, electric, turboshaft, and turboelectric among others. The growing focus on the use of fuel-efficient vehicles with long distance coverage are augmenting the demand for parallel hybrid and turboelectric propulsion systems for air taxis. Similarly, the aircraft type segment is analyzed for Multicopter, Side-by-Side aircraft, Tiltwing aircraft, and Tiltrotor aircraft among others. However, based on passenger capacity, the market has been segmented into one, two, four, six, fifteen, and thirty passengers.
Air taxis are anticipated to witness significant growth over the years, owing to rise in awareness among consumers along with increase in demand for alternative transportation medium to tackle the traffic congestion problem.
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Air Taxis Market: Component Insights
The software segment is anticipated to register the highest CAGR over the coming years as it serves as the basis of the overall air taxis market. The key operating players in the market are aiming to develop software in order to ensure smooth operational workflow of air taxis. For instance, Uber in collaboration with NASA has announced their plans to develop software for the management of air taxi routes in order to prevent air congestions.
Air Taxis Market: Aircraft Type Insights
The multicopter segment is expected to acquire a considerable share in the global air taxis market over the forecast period. The demand for the segment is expected to register the highest CAGR in the market over the coming years. The segmental growth is projected to be influenced by the economic benefits offered by it along with its ability to use shorter runways for ultra-short-haul journeys.
The global air taxi market is segmented on the basis of propulsion type, aircraft type, passenger capacity, and region. Based on propulsion system, the market is categorized into parallel hybrid, electric, turboshaft, and turboelectric propulsion. Depending on aircraft type, it is divided into multicopter, quadcopter, and other. Based on passenger capacity, it is fragmented into one, two, four, and more than six passengers sitting in the vehicle. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Few Points of TOC :
Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.2.3. Top Winning Strategies
3.3. Porter'S Five Forces Analysis
3.4. Market Share Analysis (2021)
3.5. Market Dynamics
126.96.36.199. Need For An Alternative Mode of Transportation
188.8.131.52. Increased Road Traffic Congestion
184.108.40.206. High Differential Fare
220.127.116.11. Strict Regulations For Aviation License
18.104.22.168. Government Initiatives
Chapter 4: Air Taxi Market, By Propulsion Type
4.2. Parallel Hybrid
4.2.1. Key Market Trends, Growth Factors And Opportunities
4.2.2. Market Size And Forecast, By Region
4.2.3. Market Analysis By Country
4.3.1. Key Market Trends, Growth Factors, And Opportunities
4.3.2. Market Size And Forecast, By Region
4.3.3. Market Analysis By Country
4.4.1. Key Market Trends, Growth Factors, And Opportunities
4.4.2. Market Size And Forecast, By Region
4.4.3. Market Analysis By Country
4.5.1. Key Market Trends, Growth Factors, And Opportunities
4.5.2. Market Size And Forecast, By Region
4.5.3. Market Analysis By Country
Chapter 5: Air Taxi Market, By Aircraft Type
5.2.1. Key Market Trends, Growth Factors And Opportunities
5.2.2. Market Size And Forecast, By Region
5.2.3. Market Analysis By Country
5.3.1. Key Market Trends, Growth Factors, And Opportunities
5.3.2. Market Size And Forecast, By Region
5.3.3. Market Analysis By Country
5.4.1. Key Market Trends, Growth Factors, And Opportunities
5.4.2. Market Size And Forecast, By Region
5.4.3. Market Analysis By Country
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Air taxis are anticipated to reduce congestions in the airport, provide personalized transport to the consumers, and offer cost benefits to the consumers. Air Taxis are compact and thus possess a number of advantages over the heavy aircraft. Factors such as access to remote locations with lack of proper infrastructure coupled with the trending concept of smart cities are further projected to augment the growth of air taxis market over the coming years.
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