Overview and Scope
The flying car is a type of vehicle that can function as both a personal road vehicle and an aircraft. Flying cars also known as hover cars, usually use rotors instead of wings and are smaller than a commercial aircraft and have lower emissions.
Sizing and Forecast
The flying cars market size has grown exponentially in recent years. It will grow from $133.07 billion in 2023 to $207.23 billion in 2024 at a compound annual growth rate (CAGR) of 55.7%. The growth in the historic period can be attributed to early challenges and learnings, initial infrastructure planning, visionary concepts and popular culture, regulatory and safety considerations, pioneering research and investment.
The flying cars market size is expected to see exponential growth in the next few years. It will grow to $993.56 billion in 2028 at a compound annual growth rate (CAGR) of 48.0%. The growth in the forecast period can be attributed to regulatory framework development, infrastructure investment for skyports, market competitiveness and innovation, consumer adoption and demand, global investment and policy support. Major trends in the forecast period include consumer demand and acceptance, market competitiveness and investment, advancements in battery technology, infrastructure development for airports, urban air mobility (UAM) initiatives.
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Segmentation & Regional Insights
The flying cars market covered in this report is segmented –
1) By Product: Manned Flying Cars, Unmanned Flying Cars
2) By Capacity: 2-Person Sitter, 3 And 4-Person Sitter, 5-Person Sitter
3) By Application: Military, Commercial Or Civil
North America was the largest region in the flying cars market in 2023. The regions covered in the flying cars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for environmentally friendly transportation will propel the growth of the flying cars market during the forecast period. Flying cars use vertical take-off and landing (VTOL) to take off cars. According to a 2021 survey by IBM, 77% of the respondents agreed that individual carbon footprint reduction was important and they were looking for sustainable transport options. &1% of the respondents believed EVs to be a sustainable option for daily transport. Flying cars are a lot more efficient over longer trips than shorter trips when compared to passenger cars. Therefore, the increasing demand for environmentally friendly transportation is expected to drive the growth of the flying car market.
Key Industry Players
Major companies operating in the flying cars market report are The Boeing Company, Airbus SE, Joby Aviation Inc., Lilium GmbH, Volocopter GmbH, Vertical Aerospace Ltd., Aurora Flight Sciences Inc., Greenwing International, PAL-V International BV, Uber Technologies Inc., Pipistrel d.o.o. Ajdovščina, SkyDrive Inc., Opener BlackFly, Terrafugia Inc., Alef Aeronautics Inc., Kitty Hawk Corporation, Urban Aeronautics Ltd., Robinson Aircraft Ltd., AeroMobil s.r.o., Moller International Inc., ARC Aerosystems Inc., Aeromot Aeronaves e Motores S.A., Neva Aerospace Ltd., Workhorse Group Inc., Alakai Technologies Corporation, Advanced Tactics Inc., HopFlyt Venturi, Zunum Aero Inc., Guangzhou EHang Intelligent Technology Co. Ltd., Jaunt Air Mobility LLC, Macro Industries Inc., Tesla Inc., Toyota Motor Corporation
The flying cars market report table of contents includes:
1. Executive Summary
2. Flying Cars Market Characteristics
3. Flying Cars Market Trends And Strategies
4. Flying Cars Market – Macro Economic Scenario
5. Global Flying Cars Market Size and Growth
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32. Global Flying Cars Market Competitive Benchmarking
33. Global Flying Cars Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Flying Cars Market
35. Flying Cars Market Future Outlook and Potential Analysis
36. Appendix
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