Air Taxi Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024

Description

The Global Air Taxi Market was valued at USD 2.3 billion in 2023 and is anticipated to grow at a CAGR of 20% from 2024 to 2032. This growth is primarily driven by advancements in battery and propulsion technologies, which are crucial for the development and operation of electric Vertical Take-off and Landing (eVTOL) vehicles. Significant improvements in battery energy density, charging speed, and overall efficiency have enhanced the performance of air taxis. Emerging solid-state Modern lithium-ion batteries offer higher energy storage, extending flight range and minimizing the need for frequent recharging. These advancements allow air taxis to operate more sustainably and efficiently, addressing key concerns related to the environmental impact of urban air mobility.

Enhanced battery performance also minimizes operational costs by reducing maintenance needs and fuel expenses, improving the economic viability of air taxis. Advancements in propulsion systems, such as Distributed Electric Propulsion, provide increased reliability, better thrust-to-weight ratios, and quieter operations. DEP systems, utilizing multiple electric motors and propellers, not only improve safety through redundancy but also enhance the maneuverability and efficiency of air taxis. The air taxi market is segmented by propulsion type, with categories including gasoline, electric, and hybrid.

The electric segment is expected to grow at a CAGR of 22% during the forecast period. Electric air taxis, powered by electric motors and batteries, are an environmentally friendly alternative, producing zero emissions during operation. These vehicles align with global efforts to reduce carbon footprints and contribute to sustainable urban transportation. They also offer quieter flights, reducing noise pollution in cities, and have lower operating and maintenance costs compared to traditional aircraft.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$2.3 Billion
Forecast Value	$14 Billion
CAGR	20%

In terms of operation mode, the market is divided into autonomous and piloted air taxis. The piloted segment led the market with a revenue of over USD 8 billion by 2032. Piloted air taxis provide a safe and familiar experience, which is particularly valuable during the early stages of urban air mobility deployment. North America led the global market in 2023, holding over 30% of the market share. The region's dominance is driven by significant technological innovation, investment, and a favorable regulatory environment supporting urban air mobility services.

Product Code: 11308

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Advancements in battery and propulsion technology
  - 3.8.1.2 Increasing investment and funding
  - 3.8.1.3 Environmental concerns and sustainability
  - 3.8.1.4 Technological integration and autonomy
  - 3.8.1.5 Improved public transportation infrastructure
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Safety and regulatory challenges
  - 3.8.2.2 High development and operational costs
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Range, 2021 - 2032 (USD Million & Units)

5.1 Key trends
5.2 Intercity (100Km-400Km)
5.3 Intracity (20Km-100Km)

Chapter 6 Market Estimates & Forecast, By Mode of Operation, 2021 - 2032 (USD Million & Units)

6.1 Key trends
6.2 Autonomous
6.3 Piloted
- 6.3.1 On-board piloted
- 6.3.2 Remotely piloted

Chapter 7 Market Estimates & Forecast, By Propulsion Type, 2021 - 2032 (USD Million & Units)

7.1 Key trends
7.2 Gasoline
- 7.2.1 Turbine engines (Turbo)
- 7.2.2 Reciprocating (Piston) engines
7.3 Electric
7.4 Hybrid

Chapter 8 Market Estimates & Forecast, By Application, 2021 - 2032 (USD Million & Units)

8.1 Key trends
8.2 Passenger transportation
8.3 Medical evacuation
8.4 Search and rescue
8.5 Cargo transportation
8.6 Others

Chapter 9 Market Estimates & Forecast, By End-user, 2021 - 2032 (USD Million & Units)

9.1 Key trends
9.2 Commercial
9.3 Government & military

Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Million & Units)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
10.6 MEA
- 10.6.1 UAE
- 10.6.2 South Africa
- 10.6.3 Saudi Arabia
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 Airbus
11.2 Archer Aviation Inc.
11.3 Boeing
11.4 BETA Technologies
11.5 Eve Holding, Inc.
11.6 Guangzhou EHang Intelligent Technology Co. Ltd
11.7 Jaunt Air Mobility LLC.
11.8 Joby Aviation, Inc.
11.9 Lilium N.V.
11.10 Overair, Inc.
11.11 SkyDrive Inc.
11.12 Textron Inc.
11.13 Uber Technologies, Inc.
11.14 Volocopter GmbH
11.15 Vertical Aerospace

Air Taxi Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032