Northbrook, IL -- (SBWIRE) -- 07/21/2021 -- According to the new market research report "Drone Taxi Market by Range (Intercity, Intracity), Propulsion (Fully Electric, Hybrid, Electric Hydrogen), Autonomy (Fully Autonomous, Remotely Piloted), Passenger Capacity (Up to 2, 3 to 5, More than 5), System, End Use & Region - Global Forecast to 2030", published by MarketsandMarkets™, the market size is forecasted to grow from an estimated USD 74 million in 2025 to reach USD 860 million by 2030, at a CAGR of 63.0% during the forecast period. The growth of the Drone Taxi market is majorly attributed to the rapid increase in urban demographics and increasing demand of eVTOLs for intracity transportation in various countries.
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The Ride Sharing companies segment accounts for the largest market size during the forecast period.
Based on End Use, Ride Sharing Companies segment is projected to have a larger market share in Drone Taxi market during the forecast period. This growth is attributed to congested cities and need for faster transport with defined travel routes to enable reaching from one destination to another. While ride sharing companies are expected to account for the largest market share during the forecast period owing to a large number of air taxi operators and the expected increase in the adoption of ride sharing taxis post 2025.
The Fully Electric segment is projected for the largest market size during the forecast period
Based on the Propulsion type, Fully Electric segment is projected for the largest market size during the forecast period. This growth is attributed to the increase in demand for fuel-efficient, high-performance, and low-emission vehicles along with increased endurance over other propulsion systems, thereby enabling eVTOLs to fly for long durations. Fully electric drone taxi manufacturers are expected to account for the largest market share during the forecast period owing to the increase in the demand for high-performance and zero-emission vehicles.
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"North America is projected to grow at the highest CAGR during the forecast period."
North America is forecasted to grow at the highest CAGR during the period from 2025-2030. The market growth in this region can be attributed to strategic partnerships and funding related to the use of drone taxis by concerned authorities in North American countries. For instance, in January 2020, Joby Aviation entered into a strategic partnership with Toyota and Uber. Joby Aviation plans to go public in a reverse merger with Reinvent Technology Partners, a USD 690 million publicly listed blank check company. Air taxis are likely to witness heightened demand for urban transportation in this region.
To reduce the strain on the existing transportation system and to develop drone taxi infrastructure there is increasing investment by various key players in the region. Significant carbon emissions caused by traditional aircraft and helicopters used at airports and around the cities are of major concern worldwide. Hence, several international regulatory bodies, such as the International Civil Aviation Organization (ICAO), have initiated green, clean, and energy-efficient programs to achieve zero carbon emission at airports. These programs have led drone taxi platform manufacturers to invest in innovating eVTOL and hybrid variants.
Major players operating in the Drone Taxi market include Airbus (Netherlands), Boeing (US), Joby Aviation (US), Lilium (Germany), Volocopter (Germany) and Ehang (China). These key players offer Drone taxi platforms and strong distribution networks across North America, Europe, Asia Pacific, Middle East and Latin America
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