Global Air Taxi Market to Reach US$ 4,355.8 Million by 2032, Impelled by Escalating Demand for Efficient Transportation System

April 09, 2022 | Aerospace and Defense

The latest report by IMARC Group, titled “Air Taxi Market Report by Propulsion Type (Parallel Hybrid, Electric, Turboshaft, Turboelectric), Aircraft Type (Multicopter, Quadcopter, and Others), Passenger Capacity (One, Two, Four, More than six), and Region 2024-2032,” finds that the global air taxi market size reached US$ 1,154.7 Million in 2023. Air taxi refers to an energy-saving, lightweight aircraft designed to travel shorter distances. It operates on a scheduled or non-scheduled basis and covers short routes which are not usually served by other commercial airlines. The compact size of these aircraft assists in landing and taking off from shorter runways. Moreover, they can be operated through smaller local airports with less or no air traffic as they are relatively closer to passengers’ destinations. At present, various companies in the aviation and transportation industry are collaborating to introduce efficient air taxi services.

Global Air Taxi Market Trends:

The market is primarily driven by the escalating demand for efficient transportation systems across the globe. Also, there has been an escalating demand for air taxis due to the adverse environmental impact caused by numerous vehicles operating on the road. In addition, the expanding aviation and transportation industry represents another major growth-inducing factor. Besides this, governments of numerous countries are undertaking various initiatives to provide air taxi services in urban areas and support the aviation industry worldwide. This, coupled with the introduction of electric air taxis that can take off and land vertically on the ground, is positively influencing the market growth. Moreover, the leading market players are investing in research and development (R&D) activities to introduce technological advancements, such as connected multimodal transportation network that enables consumers to access on-demand goods delivery, air mobility and emergency services, which is anticipated to propel the market growth further. Looking forward, IMARC Group expects the market to reach US$ 4,355.8 Million by 2032, exhibiting a CAGR of 15.3% during the forecast period (2024-2032).

Market Summary:

  • Based on the propulsion type, the market has been categorized into parallel hybrid, electric, turboshaft, and turboelectric. 
  • On the basis of the aircraft type, the market has been segmented into mutlicopter, quadcopter, and others. 
  • Based on the passenger capacity, the market has been classified into one, two, four, and more than six. 
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. 
  • The competitive landscape of the market has been analyzed in the report, with some of the key players being Ab Corporate Aviation, Airbus SE, Fly Aeolus, Honeywell International Inc., Hyundai Motor Company, Joby Aviation, Kitty Hawk Corporation, Neva Aerospace Ltd., Nurol Holding, Inc., Skyway Air Taxi, Talkeetna Air Taxi Inc., and Volocopter GmbH.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Propulsion Type, Aircraft Type, Passenger Capacity, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Ab Corporate Aviation, Airbus SE, Fly Aeolus, Honeywell International Inc., Hyundai Motor Company, Joby Aviation, Kitty Hawk Corporation, Neva Aerospace Ltd., Nurol Holding, Skyway Air Taxi, Talkeetna Air Taxi Inc, and Volocopter GmbH
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Air Taxi Market to Reach US$ 4,355.8 Million by 2032, Impelled by Escalating Demand for Efficient Transportation System
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