The report predicts the global Drone Taxi Market to grow with a CAGR of 63.0% over the forecast period from 2022-2031.
The Drone Taxi market size is forecasted to grow from an estimated USD 74 million in 2022 to reach USD 860 million by 2031, at a CAGR of 63.0% from 2022 to 2031.
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.
Pre-COVID-19, the drone taxi industry experienced an impressive growth trajectory. In the first few months of 2020 alone, over USD 1 billion was invested in the sector, with Toyota leading a 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 announced that it was engaged with manufacturers of more than 15 eVTOL aircraft. Uber Air, EHang, Volocopter, Joby Aviation, and Lilium are among those who have signaled their intent to launch commercial passenger operations within the next three to five years.
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Based on Passenger Capacity, DroneTaxis having a 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 Drone Taxi market in 2031.”
Europe is expected to account for the largest share (46%) of the drone taxi market in 2031. 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.
The break-up of profile of primary participants in the Drone Taxi market:
- By Company Type: Tier 1 – 49%, Tier 2 – 37%, and Tier 3 – 14%
- By Designation: C Level – 55%, Director Level – 27%, and Others – 18%
- By Region: North America – 55%, Europe – 27%, Asia Pacific – 9%, RoW – 9%
Major players operating in the Drone taxi market are Airbus (Netherland), Boeing (US), Joby Aviation (US), Volocopter (Germany), Lilium (Germany), and EHang (China) among others.
This research report categorizes 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 (Structure, Avionics, Interior, Propulsion, Others), End Use (Ride Sharing Companies, Scheduled Operators, Hospital and Medical Agencies, Private Operators) in these segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East and Latin America. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Drone Taxi market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the Drone Taxi market.
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Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Drone Taxi market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on Drone Taxi offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Drone Taxi market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the Drone Taxi market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in Drone Taxi market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the Drone Taxi market