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Air Taxi Market Report by Propulsion Type (Parallel Hybrid, Electric, Turboshaft, Turboelectric), Aircraft Type (Multicopter, Quadcopter, and Others), Passenger Capacity (One, Two, Four, More than six), and Region 2024-2032
Market Report I 2024-09-10 I 140 Pages I IMARC Group
The global air taxi market size reached US$ 1,154.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 4,355.8 Million by 2032, exhibiting a growth rate (CAGR) of 15.3% during 2024-2032. The growing urbanization, traffic congestion, ongoing technological advancements, the increasing government initiatives, and infrastructure development are primarily propelling the market's growth.
Air Taxi Market Analysis:
- Major Market Drivers: There is a rise in the demand for better and more efficient transportation systems across the globe. This, coupled with the growing number of vehicles operating on the road and causing serious environmental impact, represents one of the key factors positively influencing the market. Apart from this, the significant expansion of the aviation and transportation industry is contributing to market growth.
- Key Market Trends: The rising government initiates to provide air taxi services in urban areas, develop smart city projects and support the aviation industry worldwide, creating a favorable market outlook. Moreover, the introduction of an electric air taxi that is capable of taking off and landing vertically and the development of full-scale flight tests, the all-electric, self-piloted aircraft as an alternative mode of transportation, is projected to drive the market further.
- Competitive Landscape: Some of the prominent air taxi market companies include Ab Corporate Aviation, Airbus SE, Fly Aeolus, Honeywell International Inc., Hyundai Motor Company, Joby Aviation, Kitty Hawk Corporation, Neva Aerospace Ltd., Nurol Holding, Skyway Air Taxi, Talkeetna Air Taxi Inc, and Volocopter GmbH, among many others.
- Geographical Trends: According to the air taxi market dynamics, North America exhibits a clear dominance in the market. The increasing urbanization and traffic congestion in major cities drive the demand for alternative transportation solutions. Air taxis offer a way to bypass ground traffic and reduce travel times, addressing the challenges of urban mobility.
- Challenges and Opportunities: High initial costs with the development of air taxis and the rising noise pollution are hampering the market's growth. However, ongoing innovations in eVTOL technology and energy storage present opportunities for increasing the range, efficiency, and affordability of air taxis.
Air Taxi Market Trends:
Rising Urbanization and Traffic Congestion
Rapid urbanization and increasing traffic congestion in major cities drive the demand for alternative transportation solutions. For instance, overall traffic volumes in Great Britain were higher in 2023 than in 2022. Motor vehicle traffic on British roadways increased by 2.2% between 2022 and 2023, reaching 330.8 billion vehicle miles. Air taxis offer a way to bypass ground traffic and reduce travel time, addressing the challenges of urban mobility. These factors are expected to propel the air taxi market in the coming years.
Increasing Research and Development Activities
One of the key drivers of market growth is an increase in research and development activities for flying taxis. Many companies and organizations are extensively spending on R&D to create and commercialize flying taxis in the market. For instance, in June 2024, NASA researchers at the Armstrong Flight Research Centre in California created a unique virtual reality (VR) flight simulator to test customer comfort and experience in future air taxi services. These factors further positively influence the air taxi market forecast.
Technological Innovations
VTOL capabilities allow air taxis to take off and land vertically, eliminating the need for long runways and enabling operations in urban environments. This technology is key to integrating air taxis into city landscapes and making them practical for short-distance travel. For instance, in April 2024, INDIGO partnered with US-based Archer Aviation to unveil an all-electric air taxi service in India. The joint company intends to redefine urban transportation by providing efficient, environmentally friendly air travel options for passengers traveling between Delhi and Gurugram. The eVTOL aircraft, known as the Midnight plane, has lower noise levels and improved safety precautions, thereby boosting the air taxi market revenue.
Global Air Taxi Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global air taxi market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on propulsion type, aircraft type, and passenger capacity.
Breakup by Propulsion Type:
- Parallel Hybrid
- Electric
- Turboshaft
- Turboelectric
Electric currently holds the largest market share
The report has provided a detailed breakup and analysis of the air taxi market based on the propulsion type. This includes parallel hybrid, electric, turboshaft, and turboelectric. According to the report, electric currently holds the largest market share.
According to the air taxi market outlook, electric air taxis produce zero tailpipe emissions, aligning with global goals to reduce carbon footprints and combat climate change. They offer a cleaner alternative to traditional fossil-fuel-powered aircraft. Moreover, electric propulsion systems are generally quieter than conventional engines, making them more suitable for urban environments where noise pollution is a concern. Apart from this, advances in battery technology, such as increased energy density and faster charging, are making electric air taxis more viable. This helps extend flight ranges and reduces downtime for recharging.
Breakup by Aircraft Type:
- Multicopter
- Quadcopter
- Others
Multicopter exhibits a clear dominance in the market
The report has provided a detailed breakup and analysis of the air taxi market based on the aircraft type. This includes multicopter, quadcopter, and others. According to the report, multicopter exhibits a clear dominance in the market.
According to the air taxi market overview, multicopter air taxis offer a solution to urban traffic congestion by providing a new mode of transportation that bypasses ground-level traffic jams, making city travel faster and more efficient. They enable direct, point-to-point travel within cities, reducing travel time compared to traditional ground-based transportation. Moreover, improvements in battery life and energy density are making multicopters more viable for longer flights, enhancing their operational range and efficiency. Apart from this, many governments are supporting the development of eVTOL and multicopter technologies through grants, subsidies, and favorable regulations. This support accelerates development and deployment.
Breakup by Passenger Capacity:
- One
- Two
- Four
- More than six
A detailed breakup and analysis of the air taxi market based on the passenger capacity has also been provided in the report. This includes one, two, four, and more than six.
One-passenger capacity air taxi is ideal for individuals seeking a high level of personal convenience and privacy. This configuration is often targeted towards high-net-worth individuals and executives. Moreover, two-passenger capacity taxi is suited for couples or small business partners who need a shared transportation option that is still compact and efficient. Apart from this, four-passenger capacity appeals to families or small groups who need to travel together. This capacity offers a balance between personal convenience and group functionality. Furthermore, more than six-passenger capacity air taxis are suited for commercial applications, such as shuttle services between airports, hotels, and tourist destinations.
Breakup by Region:
- North America
o United States
o Canada
- Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
- Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
- Latin America
o Brazil
o Mexico
o Others
- Middle East and Africa
North America currently dominates the global market
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America currently dominates the global market.
According to the air taxi market statistics, rapid urbanization and increasing traffic congestion in major cities are driving demand for alternative transportation solutions in the region. Air taxis offer a potential solution for bypassing ground traffic and reducing travel times. Moreover, there is increasing consumer interest in innovative and convenient mobility solutions. Air taxis can provide premium travel experience with faster and more direct routes, catering to a growing market of affluent and tech-savvy individuals. Apart from this, support from government agencies, including initiatives for regulatory frameworks and infrastructure development, is crucial. Regulatory bodies like the FAA are working on developing standards for air taxi operations, which helps in advancing the market.
Competitive Landscape:
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include:
- Ab Corporate Aviation
- Airbus SE
- Fly Aeolus
- Honeywell International Inc.
- Hyundai Motor Company
- Joby Aviation
- Kitty Hawk Corporation
- Neva Aerospace Ltd.
- Nurol Holding
- Skyway Air Taxi
- Talkeetna Air Taxi Inc.
- Volocopter GmbH
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Air Taxi Market Recent Developments:
- April 2024: INDIGO partnered with US-based Archer Aviation to launch an all-electric air taxi service in India. The joint company intends to redefine urban transportation by providing efficient, environmentally friendly air travel options for passengers traveling between Delhi and Gurugram.
- February 2024: Joby Aviation, Inc., a company developing electric air taxis for commercial passenger service, announced that the Federal Aviation Administration ("FAA") accepted its certification plan for Joby's propulsion system, a critical step toward obtaining type certification for the company's aircraft.
- January 2024: Hyundai's advanced air mobility company, Supernal, unveiled its electric flying taxi at CES. The S-A2 is a V-Tail electric aircraft capable of reaching 120 mph at 1,500 feet. Hyundai's electric air taxi is geared for city transport, with flights ranging from 25 to 40 miles.
Key Questions Answered in This Report
1. What was the size of the global air taxi market in 2023?
2. What is the expected growth rate of the global air taxi market during 2024-2032?
3. What are the key factors driving the global air taxi market?
4. What has been the impact of COVID-19 on the global air taxi market?
5. What is the breakup of the global air taxi market based on the propulsion type?
6. What is the breakup of the global air taxi market based on the aircraft type?
7. What are the key regions in the global air taxi market?
8. Who are the key players/companies in the global air taxi market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Air Taxi Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Propulsion Type
6.1 Parallel Hybrid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Electric
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Turboshaft
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Turboelectric
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Aircraft Type
7.1 Multicopter
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Quadcopter
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Passenger Capacity
8.1 One
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Two
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Four
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 More than six
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Ab Corporate Aviation
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Airbus SE
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Fly Aeolus
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Honeywell International Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Hyundai Motor Company
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Joby Aviation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Kitty Hawk Corporation
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Neva Aerospace Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Nurol Holding
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Skyway Air Taxi
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Talkeetna Air Taxi Inc
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Volocopter GmbH
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
Figure 1: Global: Air Taxi Market: Major Drivers and Challenges
Figure 2: Global: Air Taxi Market: Sales Value (in Million US$), 2018-2023
Figure 3: Global: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 4: Global: Air Taxi Market: Breakup by Propulsion Type (in %), 2023
Figure 5: Global: Air Taxi Market: Breakup by Aircraft Type (in %), 2023
Figure 6: Global: Air Taxi Market: Breakup by Passenger Capacity (in %), 2023
Figure 7: Global: Air Taxi Market: Breakup by Region (in %), 2023
Figure 8: Global: Air Taxi (Parallel Hybrid) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Air Taxi (Parallel Hybrid) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Air Taxi (Electric) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Air Taxi (Electric) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Air Taxi (Turboshaft) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Air Taxi (Turboshaft) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Air Taxi (Turboelectric) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Air Taxi (Turboelectric) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Air Taxi (Multicopter) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Air Taxi (Multicopter) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Air Taxi (Quadcopter) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Air Taxi (Quadcopter) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Air Taxi (Other Aircraft Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Air Taxi (Other Aircraft Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Air Taxi (One) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Air Taxi (One) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Air Taxi (Two) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Air Taxi (Two) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Air Taxi (Four) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Air Taxi (Four) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Air Taxi (More than six) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Air Taxi (More than six) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: North America: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: North America: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: United States: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: United States: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Canada: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Canada: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Asia-Pacific: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Asia-Pacific: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: China: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: China: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Japan: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Japan: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: India: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: India: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: South Korea: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: South Korea: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Australia: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Australia: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Indonesia: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Indonesia: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Others: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Others: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Europe: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Europe: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Germany: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Germany: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: France: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: France: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: United Kingdom: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: United Kingdom: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Italy: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Italy: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Spain: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Spain: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Russia: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Russia: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Others: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Others: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Latin America: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Latin America: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Brazil: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Brazil: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Mexico: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Mexico: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Others: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Others: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Middle East and Africa: Air Taxi Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Middle East and Africa: Air Taxi Market: Breakup by Country (in %), 2023
Figure 78: Middle East and Africa: Air Taxi Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Global: Air Taxi Industry: SWOT Analysis
Figure 80: Global: Air Taxi Industry: Value Chain Analysis
Figure 81: Global: Air Taxi Industry: Porter's Five Forces Analysis
Table 1: Global: Air Taxi Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Air Taxi Market Forecast: Breakup by Propulsion Type (in Million US$), 2024-2032
Table 3: Global: Air Taxi Market Forecast: Breakup by Aircraft Type (in Million US$), 2024-2032
Table 4: Global: Air Taxi Market Forecast: Breakup by Passenger Capacity (in Million US$), 2024-2032
Table 5: Global: Air Taxi Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Air Taxi Market: Competitive Structure
Table 7: Global: Air Taxi Market: Key Players
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We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
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- Website security