The air taxi is a well-organized aircraft to commute over shorter distances. Its compact size & operational capabilities allow it to land and take-off from littler runways. It offers various benefits such as preserving wealth through proactive management or suitable strategies, it assists with the allocation of prosperity from one generation to next generation through strategic asset allocation and it mitigate risks via diversifying investments. The benefits of these air taxis increase demand worldwide.
According to study, “Air Taxi Market by Propulsion Type (Parallel Hybrid, Electric, Turboshaft, and Turboelectric), Aircraft Type (Multicopter, Quadcopter, and Others), and Passenger Capacity (One, Two, Four, and More than six): Global Opportunity Analysis and Industry Forecast, 2021-2030”. Some of the key companies operating in the global air taxi market are Airbus S.A.S., Boeing, Dassault Systemes, Beechcraft Corporation (subsidiary of Textron Aviation), Embraer, Lilium, Volocopter GmbH, EHANG, Hyundai, and Uber Technologies. The key operating players in the market are aiming to develop software in order to ensure smooth operational workflow of air taxis.
Based on type, air taxi market is segmented into air taxi maintenance, repair and overhaul (MRO) services, air taxi platform services and air taxi pilot training services. Based on propulsion system, market is segmented into electric, parallel hybrid, turboshaft, and turboelectric propulsion.Electric segment holds major share in market as increased performance of the vehicle coupled with reduced weight of the vehicle with electric propulsion. The parallel hybrid and turboelectric propulsion systems are anticipated to exhibit considerable growth rate owing to increase in focus on the use of fuel-efficient vehicles with long-distance coverage during the forecast period. Based on aircraft type, market is segmented into quadcopter, multicopter, and others. Based on mode of operation, market is segmented into piloted and optionally piloted. Based on range, market is segmented into intercity (100 kilometers-400 kilometers) and intra-city (20 kilometers-100 kilometers). Based on passenger capacity, market is segmented into one, two, four, and more than six passengers sitting in the vehicle.
The air taxi market is driven by increase in road traffic congestion, followed by rise in need for an alternative mode of transportation, surge in awareness among consumers along with rise in demand for alternative transportation medium to tackle the traffic congestion problem and increase in efforts on providing access to urban areas. However, strict regulations for aviation license and high differential fare may impact the market. Moreover, government initiatives for the introduction of air taxi are a key opportunity for market.
Based on geography, the North-American is a prominent region in global air taxi market owing to high traffic congestion and availability of industry players in the region. Whereas, the Asian-Pacific and European regions are estimated to witness higher growth rate due to presence of emerging economies and rise in disposable income over the forecast period. In upcoming years, it is expected that future of the market will be optimistic as a result of growth in preference for faster modes of travel and access to remote locations with lack of proper infrastructure as well as the trending concept of smart cities during the forecast period.
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Ankur Gupta, Head Marketing & Communications