Portland, OR, Feb. 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global air taxi market is estimated to reach $817.50 million by 2021 and is expected to grow $6.63 billion by 2030, growing at a CAGR of 26.2% from 2021 to 2030. The report provides an extensive analysis of drivers & opportunities, changing market trends, competitive landscape, key segments, and market size & estimations.
Need for alternative modes of transportation and increase in road traffic congestion propel the growth of the global air taxi market. However, high differential fare and strict regulations related to aviation license impede the market growth. On the other hand, supportive government initiatives offer lucrative opportunities for the market.
The global air taxi market is segmented on the basis of propulsion type, aircraft type, passenger capacity, and region. Based on the propulsion system, the market is categorized into parallel hybrid, electric, turboshaft, and turboelectric propulsion. The electric segment is projected to account for the highest share in the global air taxi market, contributing to more than two-fifths of the total share in 2021, and is estimated to maintain its leadership position throughout the forecast period. In addition, this segment would grow at the largest CAGR of 30.4% from 2021 to 2030.
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Based on aircraft type, the market is divided into multicopter, quadcopter, and other. The multicopter segment is anticipated to contribute to more than two-fifths of the total market share of the global air taxi market in 2021, and is estimated to dominate in terms of revenue during the forecast period. However, the quadcopters segment is expected to witness the highest CAGR of 30.8% from 2021 to 2030.
Based on region, the air taxi market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. North America would hold the lion’s share in 2021, accounting for nearly two-fifths of the global air taxi market, and is projected to continue to dominate by 2030. Moreover, this region is estimated to witness the fastest CAGR of 29.6% from 2021 to 2030. The report also analyzes Europe, Asia-Pacific, and LAMEA.
Based on aircraft type, the multicopter segment is anticipated to contribute the highest share in 2021. Based on region, North America would hold the largest share in 2021.
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The global air taxi market report includes an in-depth analysis of the major market players such as Beechcraft Corporation (subsidiary of Textron Aviation), Boeing, Embraer, Dassault Systèmes, Volocopter GmbH, EHANG, Uber Technologies, Airbus S.A.S., Lilium, and Hyundai.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.