New, York, NY, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Flying Motorbikes Market By Application (Police Administration, Emergency Services, Military & Defense Purposes, Transportation, And Others), By Mode Of Operation (Hybrid, Electric, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Flying Motorbikes Market size & share in terms of revenue was valued at USD 64.15 billion in 2022 and it is expected to surpass around USD 254.56 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 18.63% during the forecast period 2023 to 2030.”
What are Flying Motorbikes? How big is the Flying Motorbikes Industry?
Report Overview:
The global flying motorbikes market size was worth around USD 64.15 billion in 2022 and is predicted to grow to around USD 254.56 billion by 2030 with a compound annual growth rate (CAGR) of roughly 18.63% between 2023 and 2030.
Up until a few years ago, the idea of a flying motorcycle remained merely a concept. On the other hand, as of the year 2023, they have developed into a reality in some respects. Flying motorcycles, also known as hoverbikes, and traditional motorcycles both fulfill the same function; however, the primary distinction between the two lies in the fact that the former travels in the air while the latter travels on the ground. A regular motorcycle and an airplane have been mashed together to create what are known as hoverbikes. Some of the models that are currently available on the commercial market make use of engines that are more commonly found in aircraft in order to raise the bike off the ground and assist it in traveling from one location to another. Nevertheless, there are variations that function on more advanced technologies such as ducted fans and tilt-rotors.
For example, in flying mode, the wheels of the LMV 496 produced by Lazreth, a car manufacturer based in France, can be disengaged. After this, the wheels point downward and transform into four-wheeled hub jet turbine engines. By virtue of this, the vehicle is able to acquire increased momentum or push as a result of the addition of two additional turbines. The flying motorbike industry has come a long way on paper, but it did not become a reality until very recently. The market prospects look promising throughout the course of the projection period as a result of the ongoing efforts toward the commercial application of flying motorbikes.
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Global Flying Motorbikes Market: Growth Factors
The expansion of the market is being driven by the worsening traffic conditions on the nation's roadways and the rising awareness that better traffic management is essential.
It is anticipated that the global market for flying motorbikes would expand as a result of the rising number of complaints regarding extreme road traffic and congestion. Recent years have seen a deterioration in the global traffic ecology due to rising rates of urbanization and the rising sales rate of automotive vehicles overall, which includes both four-wheelers and two-wheelers. According to a recent report, people living in London will lose over 156 hours of their time in 2022 owing to traffic congestion. Being stopped in traffic for a number of hours is not only a frustrating experience for the general public, but it also has the potential to have a wider range of negative effects on the surrounding environment. For instance, according to the same assessment on the state of traffic throughout the world, individuals in London spend 223 United States Dollars more on fuel than is really necessary. It indicates that a greater quantity of fuel will be consumed as well as wasted, which will lead to an increased level of pollution in the environment. It seems that nearly all industrialized countries and growing nations have statistics regarding traffic that are comparable to one another. Because there are no safeguards to assure the safe passage of ambulances and other important vehicles during peak hours, countries with inadequate traffic management are the countries that are struck the most by this problem. In the coming years, it is possible that these variables may jointly have an effect on the demand for flying motorbikes. Flying motorbikes do not run on the ground and can assist in minimizing concerns that are related to traffic.
The expanding use of technology for military objectives will result in more revenue.
Flying motorcycles have the potential to become an integral component of future military weapons and equipment. Countries all over the world are increasing their spending on their militaries and making investments in the research and development of cutting-edge technologies as well as the purchase of those technologies so that they can better protect their citizens and defend themselves in times of conflict. As tensions with its neighbors continue to rise, India stated in February 2023 that it will be increasing its military budget to USD 72.6 billion. The total amount spent on the world's armed forces increased by 3.72 percent in 2022. The increasing levels of spending could lead to the incorporation of flying motorbikes into the military's overall infrastructure.
Market for Flying Motorcycles: Obstacles The development of flying motorcycles requires significant investments of time and resources, which may impede market growth.
Due to the fact that the flying motorbike industry is still relatively new, it is now plagued by the challenges that are typical for first-movers in the business world. Some of the issues are about very important concerns, such as the potential for copyright infringement or the theft of technological know-how. In addition, the creation of flying motorcycles calls for a significant investment of resources, both monetary and non-monetary. The fact that this technology is still in its infancy means that there is a significant shortage of qualified workers, which further dampens the growth prospects for flying motorcycles. Since the products have not even reached the majority of the countries and are still restricted to the nations where they were initially produced, government policies relating to the commercial sale and usage of hoverbikes are still unclear. This is because hoverbikes are still restricted to the nations where they were initially developed.
Opportunities on the Flying Motorcycles Market
Increasing the level of research and innovation within the sector in order to provide opportunities for expansion
Over the course of the past two years, there has been a considerable increase in the amount of research and innovation that is focused on flying motorcycles. At the Detroit Auto Show in the United States, which took place in September 2022, the Japanese firm AERWINS presented the world's first flying motorbike for the very first time. The brand new bicycle was compared to the bicycles that appeared in the widely popular film and television series known as Star Wars. The name of the motorcycle will be XTURISMO, and it won't be available for purchase until 2023. P2 Speeder by Mayman Aerospace is one of the other manufacturers that provide this flying motorbike technology. The vehicle is propelled by eight jet turbine engines and runs on aviation fuel with zero net carbon emissions. Mayman Aerospace is in the process of marketing a product that will be utilized by law enforcement agencies as well as the military for various purposes including search and rescue. Lazareth's LMV 496 is a hybrid motorcycle that can operate both on the ground and in the air, hence boosting the total functionality of the tool. This motorbike was designed by Lazareth.
The Problems Facing the Flying Motorcycles Market
Possible obstacles to growth include a dearth of necessary supporting infrastructure as well as the expensive nature of the bicycles.
The infrastructure of the globe just isn't there yet to support widespread use of flying motorcycles on a daily basis. There are a number of nations that do not possess an effective road infrastructure, and the utilization of flying motorbikes is not one of their long-term aspirations. In addition, the price tag for a flying bike is quite hefty. The recreational version of the P2 speeder has a price tag of USD 380,000, while the Xtrusimo LE has a price tag of USD 680,000.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 64.15 billion |
| Projected Market Size in 2030 | USD 254.56 billion |
| CAGR Growth Rate | 18.63% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Aerofex Corporation, A.L.I Technologies, Lazareth Auto-Moto, BMF Motorrad, Northrop Grumman, Jetpack Aviation, Duratec S.R.O, Thales, Safran, Kalashnikov Concern JSC, HOVER, Honeywell, Raytheon, Malloy Aeronautics., and others. |
| Key Segment | By Application, By Mode of Operation, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Flying Motorbikes Market: Segmentation Analysis
The global market for flying motorbikes can be broken down into submarkets that are distinguished by their applications, modes of operation, and geographical locations.
On the basis of application, the global market for flying motorbikes may be broken down into the following categories: transportation, emergency services, military and defense objectives, and police administration. The market for emergency services experienced the most expansion in 2022. This is due to the fact that the majority of companies that sell flying motorcycles are developing their products with the end goal of having them be utilized in emergency situations such as search and rescue missions. During the period covered by the projection, it is possible to see the expansion of the segment at a CAGR of 25.25%. Additionally, the military and defense purposes segment may also develop at a large rate as a result of rising military expenditures and expanding international alliances between nations for the purpose of the delivery of sophisticated armaments and defense equipment. Both of these trends are expected to continue.
The flying motorbikes industry can be broken down into hybrid, electric, and other categories, depending on the mode of operation. Around one-third of the total revenue was controlled by the electric segment in 2022, and it is expected to rise at a compound annual growth rate (CAGR) of 24.32% during the projection period. In April of 2022, students at the University of Technology in Delhi modified a regular 675 Daytona superbike so that it could be used as a prototype for a flying motorbike. The motorcycle has a total of three cylinders and is only 47 kilograms in weight. During the process of developing the bike, the students took into consideration how affordable it would be.
The global Flying Motorbikes market is segmented as follows:
By Application
- Police Administration
- Emergency Services
- Military & Defense Purposes
- Transportation
- Others
By Mode of Operation
- Hybrid
- Electric
- Others
Browse the full “Flying Motorbikes Market By Application (Police Administration, Emergency Services, Military & Defense Purposes, Transportation, And Others), By Mode Of Operation (Hybrid, Electric, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/flying-motorbikes-market
Competitive Landscape
Some of the main competitors dominating the global Flying Motorbikes market include -
- Aerofex Corporation
- A.L.I Technologies
- Lazareth Auto-Moto
- BMF Motorrad
- Northrop Grumman
- Jetpack Aviation
- Duratec S.R.O
- Thales
- Safran
- Kalashnikov Concern JSC
- HOVER
- Honeywell
- Raytheon
- Malloy Aeronautics.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Flying Motorbikes market is likely to expand at a CAGR of around 18.63% during the forecast period (2023-2030).
- In terms of revenue, the Flying Motorbikes market size was valued at around US$ 64.15 billion in 2022 and is projected to reach US$ 254.56 billion by 2030.
- The flying motorbike market is projected to grow at a significant rate due to the increasing congestion on roads and higher need for improved traffic management.
- Based on application segmentation, emergency services was predicted to show maximum market share in the year 2022.
- Based on mode of operation segmentation, electric was the leading segment in 2022.
- On the basis of region, Asia-Pacific was the leading revenue generator in 2022.
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application, By Mode of Operation, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
Asia-Pacific to dominate with the highest growth rate
The global flying motorbikes market is expected to witness the highest growth in Asia-Pacific. In 2022, the region controlled over 35.1% of the total revenue generated. The regional growth is attributed to the ongoing research and development in Asian countries including Japan and China. The former has been a pioneer in launching the most advanced flying motorbike brand as the country fosters innovation. Additionally, in recent times, Japan has increased its military expenditure which may drive regional demand since the developer of the most recently developed Xtrusimo bikes, AERWINS, is based in Japan.
Simultaneously, China is expected to invest more in these tools as the country faces issues related to dense population in urban areas. A 2019 report on the fatality rate in China caused by traffic showed that the rate of traffic-induced deaths in the country was 36 per 100,000 cars. India is an emerging nation with a lot of scope for domestic development and manufacturing of flying hoverbikes. North America is expected to grow at a CAGR of 8.5% by 2030 led by increasing investment in new flying motorbike development. Moreover, the country's defense team is one of the world’s most advanced and well-funded sectors that could assist in pushing regional growth to new dimensions.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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