Flying Cars Market 2020: Global Projection, Solutions, Services Forecast to 2023

Posted by Market Research Future on March 23rd, 2020

Market Synopsis:                                                

Market Research Future (MRFR), in its revised “Flying Cars Market” report, explores different opportunities of the market. As per MRFR study, the flying cars global market can register 43.68% CAGR through 2022 to 2035. during the forecast period. A key factor that can drive the expansion of the flying cars market is the high congestion and overcrowding of traffic in urban regions. The promptness in urban development and proliferation of urban population can result in the rise of personal transit and freight movements, which can boost the growth of the flying cars market. In addition, the growing need to suffice rapidness of the urban mobility can impel the flying cars market growth. The economic growth can result in the rise of total net worth of an individual, resulting in the adoption of private air travel. These factors can boost the flying cars market growth. Hence, the adoption of private air travel and other emerging trends can contribute to the expansion of the flying cars market.

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Segmental Study

The flying cars market study is segmented by capacity and product. 

The product-based segments of the flying cars market are passenger drones and flying cars. The passenger drone market segment can dominate the global flying car market. Passenger drones are classified as unmanned aerial vehicles (UAVs) as the carriage of passengers is automated. In addition, the swift developments in aerial drone technology and high investment in the designing of eco-friendly drone vehicles can prompt the flying cars market growth. The rise in need to rectify traffic congestion can influence the adoption rate of passenger drones, thereby benefitting the flying cars market.

The capacity-based segments of the flying cars market are 2-person sitter, 5-person sitter, and 4-person sitter. The 2-person sitter segment to dominate the global market. The high number of 2-person sitter flying cars due to their compactness and requirement for less investment as compared to 5-person sitter and 4-person sitters can prompt the flying cars market. The need to minimize the risk of failure, the influx of cash for investments in innovations, and new entrants dealing in 2-person sitter flying cars can boost the flying cars global market.

Regional Analysis

North America flying cars market can register an excellent growth across the review period. As per MRFR, North America flying cars market can thrive at 40.02% CAGR during the assessment period. The US, followed by Mexico and Canada to bring in major profits for the market. The existence of aviation companies, such as Workhorse, Boeing, and Joby Aviation among others can improve the market valuation. In 2022, the estimated value of the market is USD 89.5 Mn, which by 2035 can value at USD 7,116.7 Min. In addition, the high availability of sophisticated technologies to design innovations and funding from government can prompt the regional market.

Europe flying cars market to secure the second position. The UK, followed by Germany and France to exhibit rapid expansion of the market in the upcoming years. The UK leads in the top ranking countries with high air traffic. This can boost EU flying cars market.  Asia Pacific flying cars market is observed to emerge. The high demand for flying cars solutions across Japan, China, and South Korea can underpin the expansion of the regional market.

Key Competitors

MRFR profiled key global flying cars market players. They are; A³ by Airbus (US), Volocopter GmbH (Germany), Boeing (US), AeroMobil (Slovakia), Cartivator (Japan), TERRAFUGIA (US), EHANG (China), Lilium (Germany), Joby Aviation (US), and Uber Technologies, Inc. (US).