Flying Car Market to Cross USD 1.06 Billion by 2030 as a Result of Increasing Demand for Efficient Transportation Options Globally | Published by SNS Insider

As per SNS Insider's report, the flying car market had a valuation of USD 86 million in 2022 and is anticipated to expand to USD 1.06 billion by 2030, with a projected compound annual growth rate (CAGR) of 36% during the forecast period from 2023 to 2030

Pune, April 13, 2023 (GLOBE NEWSWIRE) -- Based on SNS Insider analysis, established players and startups alike are investing heavily in the development of Flying Cars, with the aim of bringing them to market as soon as possible. This investment is expected to accelerate the pace of innovation and bring flying cars to the market sooner than expected.   

Flying cars are a futuristic transportation mode that combine the advantages of traditional automobiles and aircraft. They are designed to operate on both roads and in the air, allowing people to travel seamlessly from one location to another without being constrained by traffic congestion or terrain barriers. Flying cars have the potential to transform the way people commute, especially in urban areas with heavy traffic congestion. They could offer a faster and more efficient mode of transportation, reducing travel time and improving productivity.

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Flying Car Market Report Scope

Report AttributesDetails
Market Size in 2022US$ 86 Million
Market Size by 2030US$ 1.06 Billion
CAGRCAGR of 36% From 2023 to 2030
Key Segments• by Product (Flying cars, Passenger drones)
• by Capacity (Two-person sitters, Three and Four-person sitters, Five-person sitters)
• by Operations (Piloted, Autonomous)
Company ProfilesVolocopter GmbH (Germany) , Skydrive, A³ by Airbus (US), AeroMobil (Slovakia), Boeing (US), Cartivator (Japan), EHANG (China), Hyundai Motor Company, Klein Vision s. r. o., Samson Motors, Inc., Lilium, PAL-V N.V , TERRAFUGIA (US), Lilium (Germany), Joby Aviation (US), and Uber Technologies, Inc. (US)
Market Drivers• Perspectives on urban transportation are shifting.
• The market for flying cars is likely to rise as industry participants increase their investment.

Market Analysis

The flying car market is being driven by several factors, including technological advancements, increasing investments, and the need for faster and more efficient transportation options. Furthermore, the need for faster and more efficient transportation options is also driving the demand for flying cars. In urban areas with heavy traffic congestion, flying cars could offer a faster and more efficient mode of transportation, reducing travel time and improving productivity. This need for speed and efficiency is expected to increase the demand for flying cars in the coming years.

Impact of Russia-Ukraine Conflict

The ongoing conflict between Russia and Ukraine is having a significant impact on the flying car market. The disruption of the supply chain, decline in consumer purchasing power, disruption of collaborations and partnerships, and changes in regulations could potentially slow down the growth of the market. However, the impact of the conflict on the market is still uncertain, and it remains to be seen how it will affect the industry in the long term.

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Key Regional Development

The potential of flying cars as a futuristic mode of transportation has long been anticipated by many. With advancements in technology, the possibility of having flying cars on our roads (or in the skies) is becoming more and more tangible. It is predicted that the flying car market will experience a significant surge in the upcoming years, with North America being the dominant player. Furthermore, North America is home to some of the key players in the market. These companies are leading the charge in developing and manufacturing flying cars, and they have already made significant strides in this area.

Key Takeaway from Flying Car Market Study 

  • While it is still in its early stages, the flying car segment is poised to be a game-changer, offering users the ability to travel on land and in the air, and potentially reducing traffic congestion and travel time. It will be interesting to see how this industry develops and evolves in the coming years.
  • The piloted segment of the market is expected to dominate in the short term, as fully autonomous vehicles are still in the early stages of development. However, there is significant potential for autonomous flying cars to revolutionize the transportation industry, as they can potentially offer greater safety, efficiency, and convenience.

Recent Developments Related to Flying Car Market

  • Doroni Aerospace, a cutting-edge flying car company headquartered in the United States, has recently announced the completion of an impressive series of tests for their flagship product, the Doroni H1 flying car. The Doroni H1 is an innovative new type of vehicle that combines the convenience of a car with the freedom of a helicopter.
  • The Australia-based company, Airspeeder, has recently unveiled their latest flying car model, the Airspeeder Mk4, which is a crewed racecar designed specifically for the skies. The innovative vehicle is the world's first electric flying racing car, representing a significant milestone in the development of advanced air mobility technology.

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Table Of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7.  PEST Analysis

8. Global Flying Car Market Segmentation, By Product

9. Global Flying Car Market Segmentation, By Capacity

10. Global Flying Car Market Segmentation, By Operations

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

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