Flying Taxi: Introduction
- Flying taxi is a small commercial aircraft that makes short flights on demand. A flying taxi is a concept vehicle built to provide transportation solutions to commuters from one place to the other via air. Sometimes referred to as air taxis, these vehicles offer a limited number of passengers a short flight within or between urban areas. Flying taxis take off and land vertically and primarily fly several hundred meters above the ground. These taxies are generally propelled by a jet engine at the rear and used to fly over traffic jams and in between high-rise buildings. Like helicopters, flying taxis, don’t need a runway, but unlike helicopters are quiet and inexpensive.
Key Drivers of Global Flying Taxi Market
- Increasing congestion on roads and rising prices of natural gas are key factors driving the demand for alternatives to road transportation. The air medium transportation is an alternate solution to road and rail medium transportation, as air transportation is efficient and less time-consuming as compared to other modes of transportation. A flying taxi can reduce travel time of commuters daily travelling over 100 km in urban traffic by car or public transport. These factors boost the flying taxi market across the globe.
- Several companies are investing heavily in research and development activities in developing and commercializing flying taxi in the market, and to gain a competitive advantage by launching it first in the marketplace. This is likely to propel the flying taxi market across the globe.
- The issue of traffic jams and congestion across the globe has increased considerably due to the increasing population and rising number of vehicles operating on roads. This has resulted in severe issues such as air pollution and environmental hazards. Therefore, the demand for flying taxi is increasing, as it helps reduce traffic congestion in cities, by transporting the passengers by air. Thus increasing traffic congestion across the globe is fueling the flying taxi market across the globe.
Developments in air urban mobility to offer attractive opportunities
- When introduced, the flying taxi is anticipated to have a profound impact on society, the economy, and the environment. It will reshape how people travel in cities; it has the potential to disrupt conventional transport systems such as highways, trains, and buses, put a dent in the pollution around urban centers, and make for much faster commutes, thereby making society more efficient and productive. Flying taxis are expected to have zero operational emissions and be quiet enough to operate in cities without noise pollution. Ride-hailing service companies such as Uber partnered with Boeing to commercialize the flying taxi concept, which is anticipated to offer significant opportunity in the market.
Stringent government regulations to hamper market:
- Regulations remains the primary challenge for the flying taxi market, which is likely to restrain its expansion during the forecast period. These regulations presents barriers for commercial launch, from scaling to ultimate full viability. Flying taxis require several certifications such as Part 135 certification from Federal Aviation Administration in order to run as a passenger transportation. Thus, to comply with these stringent regulations and guideline requires considerable time, which in turn is expected to hamper the market.
North America to Hold Significant Share of Global Flying Taxi Market:
- Rate of adoption of technology in North America is higher than that in other regions, as vehicle manufacturers of the automotive industry in the region emphasize more on the research and development of components. The Government of the UAE has initiated to develop the infrastructure and implement intelligent transportation solutions for easy and hassle-free commute of people. This is likely to boost the market for flying taxi in the country.
Key Players Operating in Global Market:
The global flying taxi market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global flying taxi market are:
- Joby Aviation
- Volocopter GmbH
- Kitty Hawk’s
- Aero Mobil’s
- Uber’s VTOL
- Beechcraft Corporation
- Dassault Aviation SA
Global Flying Taxi Market: Research Scope
Global Flying Taxi Market, by Propeller Type
- Dual Propeller
- Multi Propeller
Global Flying Taxi Market, by Vehicle Type
- Hover Bikes
- Flying Cars
Global Flying Taxi Market, by Fuel
- Natural Gas
Global Flying Taxi Market, by Technology
Global Flying Taxi Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.