The Flying Cars Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Flying Cars Global Market Report 2024, 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.
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.
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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
Major companies operating in the flying car market is concentrating their efforts on developing innovative solutions such as 4-seater flying cars. A 4-seater flying car is a type of personal air vehicle designed to accommodate four occupants, typically with capabilities for vertical takeoff and landing (VTOL) and the ability to transition between flying and driving modes. For instance, in March 2022, AeroMobil s.r.o., a Slovakia-based flying car manufacturing company launched the ‘AM NEXT’ 4-seater car. AM NEXT is a fleet-based aerial ride-hailing service designed to offer substantial time savings on regional routes spanning 100-500 miles. These routes are beyond practical driving distances yet are too short or inconvenient for traditional air travel. AM NEXT ensures seamless travel with hassle-free door-to-door service, offering single-seat convenience and comfort.
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 analysis
5.Flying Cars Market Size And Growth
6.Flying Cars Segmentation
7.Flying Cars Regional And Country Analysis
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27.Flying Cars Competitive Landscape And Company Profiles
28.Flying Cars Key Mergers And Acquisitions
29.Flying Cars Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- The Boeing Company
- Airbus SE
- Joby Aviation Inc.
- Lilium GmbH
- Volocopter GmbH
- Vertical Aerospace Ltd.
- Aurora Flight Sciences Inc.
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