Press Release Description

Global Flying Car Market to Accelerate at a CAGR of Around 37.80% During 2024-30

The Global Flying Car Market is close to USD 100 million in 2023 and is projected to cross USD 550 million by the end of 2025 with a further projected CAGR of 37.80% by 2030, cites MarkNtel Advisors in the recent research report. The factors attributing to the growth in demand for flying cars include the rising need for efficient urban mobility solutions, evolving consumer preferences, and increasing regulatory support. Several countries, like Canada, Italy, etc., in the North America & Europe region have congested urban areas. As a result, end-users in these countries are facing traffic congestion issues. According to the survey conducted by TomTom, in 2023, London emerged as the world's most congested city, with a congestion level of around 45%. These traffic issues are spurring interest in efficient urban mobility solutions. As a result, industries such as transportation, tourism, logistics, and emergency services are opting for flying cars & passenger drones to ease transportation, driving the growth & development of the Global Flying Car Market.

Additionally, regulatory bodies worldwide are increasingly recognizing the potential of aerial mobility. Therefore, these authorities are increasingly developing frameworks and standards for vertical take-off and landing (VTOL) vehicles. These clear and supportive regulations would provide certainty to manufacturers, operators, and consumers. Therefore, more consumers & business organizations would seek to buy these transportation solutions. In addition, the transparent & flexible rules for flying cars would facilitate the integration & adoption of flying cars into existing transportation ecosystems, uplifting market growth during the forecast period, further states the research report, “Global Flying Car Market Analysis, 2024.”

Global Flying Car Market

Global Flying Car Market Segmentation Analysis

The Electric Segment Dominates the Global Flying Car Market

Based on propulsion, the market is further bifurcated into ICE and electric. Of them, the electric segment held the dominant share in the Global Flying Car Market. Over the years, vehicle ownership in countries like India, the US, etc., has significantly increased due to rising per capita expenditure. According to the survey conducted by the Ministry of Health and Family Welfare in 2022, 1 in 12 households in India now own a car, and in 2023, the sales of cars reached 4.22 million in India, an increase of about 27% compared to 2022. This surge in automotive sales is resulting in expanding transportation activities & elevating carbon emissions. These carbon emissions exacerbate health risks and climate impacts.

Therefore, to minimize the carbon emissions released by the transportation sector, the governments of countries like Germany, the US, etc., are facilitating the adoption of electric vehicles, including electric flying cars & passenger drones. In addition, the leading players in the market are increasingly launching electric flying cars & passenger drones, which would target environmentally conscious end-users, bolstering the market share of electric in the Global Flying Car Market.   

North America Holds a Noteworthy Share in the Global Flying Car Market

North America holds a notable share in the Global Flying Car Market. The region boasts prominent aerospace industries and a robust research and development ecosystem is accelerating the development and testing of numerous flying car models. Further, the market players are heavily investing in the region to create prototypes of flying cars and passenger drones, attracting significant attention from potential users.

In addition, these companies are increasingly incorporating the latest battery technology & autonomous systems, making them popular for urban mobility. As a result, several end-users, like military & defense, logistics, & e-commerce in North America, are inclined towards the flying car. Moreover, regulatory bodies are developing guidelines and standards for urban air mobility (UAM) and flying car operations, providing clarity to consumers and contributing to market growth & expansion.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including AeroMobil Limited, Airbus SE, PAL-V International, Samson Sky™, SkyDrive Inc., EHang Holdings Ltd., Volocopter GmbH, Zhejiang Geely Holding Group, Klein Vision, s.r.o., XPeng Inc., and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the regions?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping up across various regions?
  6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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