The global drone taxi market is anticipated to grow significantly at a CAGR over the forecast period (2024-2031). The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For an 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.
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In March 2021, Lilium signed a definitive agreement with Qell Acquisition Corp., a company that invests in high-growth businesses. The agreement will boost the market for the 7-seater Lilium jet and support Lilium position itself as a leader in regional electric air mobility. Further, the company has planned to launch regular drone taxi flights by 2025. In December 2020, Joby announced that Uber Technologies Inc. agreed to invest a further $75 million in Joby as part of a broader transaction involving the acquisition of Uber Elevate by Joby and an expanded partnership between the two parent companies. This investment is an addition to a previously made $50 million investment as part of Joby’s Series C financing round in January 2020. In addition to this, in March 2020, Volocopter partnered with a German company, Autoflug to develop passenger seats for its production air taxi.
Autoflug will develop its modular Flyweight seat family for Volocopter’s two-seat VoloCity multicopter, which is being developed for commercial air taxi services in inner cities. Apart from this, Urban Air Port plans to build 200 Urban Air Mobility (UAM) airport sites by 2026. In addition to this, Hyundai is planning to launch its taxi drone commercial by 2028. Thus, the aforementioned factors are contributing to the growth of the market during the forecast period.
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Market Coverage
- Segment Covered- by autonomy, by propulsion type, by passenger capacity, by end-user, and by range.
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Airbus SE, The Boeing Co., Joby Aero Inc., and among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Drone Taxi Market – Segmentation
By Autonomy
- Remotely Piloted
- Fully Autonomous
By Propulsion Type
- Fully Electric
- Hybrid
- Electric Hydrogen
By End-User
- Ride-Sharing Companies
- Scheduled Operators
- Hospital and Medical Agencies
By Range
- Intracity
- Intercity
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