Flying Car and Flying Taxi Market in US and Europe 2018-2025

December 19, 2018


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INTRODUCTION

The worldwide loss of productive man-hours due to increased road congestion has become a major cause of concern for employees, enterprises, government bodies and environment protection bodies alike.

Although,improved digitization by courtesy of smartphones has strengthened the cause of ride-hailing and car sharing services. But,it is still a long time away from what we call an effective long-term sustainable mobility solution. This has made innovative brains around the world to look to the sky to fight this growing and long-standing menace of what we call traffic. Whether it will bear any fruit or not, we will see further in the report.

 

AUTOMOTIVE OEMS INTERESTED IN FLYING CAR MARKET

 

Sl noOEMFlying car concept nameAnnounced in
1AudiPop.up NextNov`18
2Aston MartinVolante VisionJuly `18
3ToyotaDual-mode vehicle with wheel rotorsMay`17
4GeelyTransitionSep`17
5Rolls RoyceUnnamedJuly `18
6PorscheUnnamedMar`18

The flying cars will not create a market of their own rather it will be derived from the market of supercars, hyper cars and general aviation. The cumulative annual volume of super cars and hyper cars is ~20,000 units per year,whereas general aviation volume is roughly 2,500 units per year. The minimum initial cost of flying cars will be in excess of $200,000, which can also exceed $1,000,000 as in the case of Aeromobil.

 

The higher initial cost could be attributed to the manufacturer recovering cost for R&D, certification ,production tooling and raw materials. The higher price will have a negative impact on sales, limiting the initial market to individuals or organizations with deep pockets.

 

HOW DID THE IDEA OF FLYING TAXI MARKET HAPPEN?

The on demand flying taxis would enable commuters to travel at a much faster pace they currently do in a car. In our opinion, initially the commuters who travel approximately 100kms a day (round trip) in urban traffic to reach their workplace are likely to be the first set of consumers. They could be willing to take a chance with this novel mobility concept.

 

The commuters who would opt for an on demand flying taxi instead of their personal car. Even, an on-demand taxi will save a significant amount of time, which would otherwise be spent in  traffic. But, this cannot happen without active participation of other important stakeholders i.e  government and infrastructure developers. The government bodies in US and Europe will need to emulate Dubai RTA on their policy of promoting intelligent transportation.

 

There is no denying the fact that there are several challenges to on demand flying taxi business model. But, on the other side the flying taxis also hold the potential to literally revolutionize the urban transportation. In the same manner, where on demand taxis have become a commonplace in urban environment.

 

THE INITIATIVES TAKEN BY UBER AND OTHERS

Uber recently made headlines in Aug `18, when it announced that it will be launching flying taxi services in 5 countries. The shortlist, also included a surprise name, “India” where annual per capita income is less than $2,000.

 

It has collaborated with NASA and plans to launch its flying taxi services in Los Angeles by 2020.Even in flying taxi market, it will not own any aircrafts, and rather it will be just an aggregator and provide its network to support the same.

In Asia and Oceania region, Volocopter , is working with Singapore` civil aviation authority to facilitate air rides by Q3 2019. In New Zealand, Cora- a Larry page owned company is working with Air New Zealand to launch world`s first flying taxi service as soon as possible.

 

 The flying taxi operators are yet to decide the actual cost per trip. But, we have put an estimated cost as per inputs gathered from our discussion with industry participants.

 

MARKET DYNAMICS

With the growth in technology and disposable income, cars were thought of as the ultimate mobility solution. The automotive industry boomed for many years in the 20th century, resulting in clogged urban streets across the globe.

 

The higher the car population in a country, the more time their average commuters spend in traffic.This ultimately leads to loss of productive man hours, fuel and increased emissions. The traffic problem remains the same for a person whether travelling in an entry level car or the most luxurious car. This is where flying car and flying taxi have something more to offer. They can provide door to door transportation without worrying about the traffic problem.

 

This increased interest in autonomous vehicles is fueling interest in autonomous flying car and flying taxi. The rationale is – once the autonomous technologies are proven to be safe and reliable in the real world, it will enter mass production, bringing down the cost of major components.

 

Dubai is embracing the idea of autonomous vehicles faster than the even the US and Europe. It has plans to make 25% of its public transport autonomous by 2030 and is following its target very keenly. In both the cases,US or Europe will provide the requisite technology and manpower.

 

MARKET SIZE AND FORECAST

US and Europe has a sizable chunk of rich and early adopter population. It also accounts for 60% of global light aircraft market.

 

Although Asia`s share has been growing of late along with Latin America, it’s nowhere close to that of these matured economies. This is one of the major reasons why flying car and flying taxi manufacturers are targeting this region. Up until this point, the possibility of an individual flying machine has been constrained to small aircraft and helicopters. Both have a high procurement and maintenance cost, accordingly restricting its ownership to a chosen few.

 

can flying taxi replace helicopters

 

Helicopters have long been the favorite mode of air transportation of HNWIs and military due to their versatility in operation. Therefore, if the concept of flying car has to be successful, then its acceptance has to go beyond that of a helicopter and lighter compact aircraft.

 

Funding raised by Flying car and Flying taxi startups till Q4 2018

Funding raised by flying car and flying taxi startups till Q4 2018 - infographic

 

COMPANIES PROFILED
  1. Volocopter GmbH
  2. PAL-V International B.V.
  3. Aeromobil s.r.o
  4. Terrafugia Corportation
  5. Moller International
  6. Urban Aeronautics
  7. Carplane Gmbh
  8. Samson Motorworks
  9. Joby Aviation
  10. Lilum GmbH
  11. EHANG, Inc.
  12. Airbus Ventures-A^3

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1.     Scope of the report

2.     Research methodology

3.     List of abbreviations

4.     Market in a Nutshell

4.1. By Volume

4.2. By Value

5.     Introduction

5.1. Flying cars and Flying taxi- Amalgamation of Automotive and Aerospace Industry-

5.2. How will the mobility solution of future look like?

5.2.1.     Battery Electric vehicles

5.2.2.     Battery Electric taxis coupled with on demand transportation and ride sharing

5.2.3.     Wider reach of mass transit application

5.2.4.     Portable self-balancing scooters to provide last mile connectivity

5.3. Growth in sharing economy attributed to heavy inroads made by e-commerce

5.4. Proliferation of UAVs making way for electric VTOL used in both passenger carrier as well as delivery application

5.5. Why the concept of flying car?

5.5.1.     Traffic congestion and loss of man hours

5.5.2.     How the new flying cars are different from the ones developed in previous century

5.6. Why the concept of flying taxi?

5.6.1.     Introduction

5.6.2.     Rise of on demand taxi operators

5.6.3.     Benefits of flying taxi

5.6.4.     Some of the prominent flying taxi concepts

5.6.5.     The idea of running a taxi without driver

5.6.6.     Conclusion

6.     Market Dynamics

6.1. Drivers

6.1.1.     Driver 1

6.1.2.    Driver 2

6.1.3.    Driver 3

6.1.4.    Driver 4

6.1.5.     Driver 5

6.1.6.     Driver 6

6.1.7.     Driver 7

6.2. Trends

6.2.1.    Trend 1

6.2.2.    Trend 2

6.3. Challenges

6.3.1.   Challenge 1

6.3.2.   Challenge 2

6.3.3.   Challenge 3

6.3.4.    Challenge 4

6.3.5.     Challenge 5

7.     Market Size and Forecast, 2018-2025

7.1. Volume

7.2. Value

8.     Market size and forecast, by Geography 2018-2025

8.1. Europe

8.1.1.     Who could be the potential customers of flying car and potential users of flying taxis?

8.2. US

9.     Market Size and Forecast ,By Product 2018-2025

9.1. Flying Car

9.2. Flying taxi

10.    Competitive Landscape

11.    Company Profiles- Flying cars Segment

11.1. PAL-V International B.V.

11.2. Aeromobil s.r.o

11.3. Terrafugia Corportation

11.4. Moller International

11.5. Urban Aeronautics

11.6. Carplane Gmbh

11.7. Samson Motorworks

12.    Company Profiles-  Flying Taxi Segment

12.1. Volocopter GmbH

12.2. Joby Aviation

12.3. Lilum Aviation GmbH

12.4. EHANG, Inc.

12.5. Airbus Ventures-A^3

12.6. Other possible flying car and flying taxi Companies in future

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