Passenger Drone Market 2019: Global Industry Overview By Size, Share, Trends, Growth Factors, Leading Players, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2024

Passenger Drone Market 2019: Global Industry Overview By Size, Share, Trends, Growth Factors, Leading Players, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2024

“\”Passenger Drones\””
Global Passenger Drones Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.

Global Passenger Drones Market by Component (Airframe, Controller System, Navigation System, Propulsion System, & Others), Capacity (Up to 100 kg & Over 100 kg), Application (Commercial & Personal), Rotors (10), and by Region – Forecast Till 2024

Global passenger drones market will exhibit a CAGR of 27.74% during the forecast period from 2018 to 2024 to cross a USD 800 million mark by 2024. A number of companies are currently exploring the use of passenger drones as air-taxis, air-cargo, or for air-ambulance services. The concept of passenger drones is relatively new. In 2017, the market was led by Europe and was followed by Asia Pacific and North America. The Asia Pacific region has become a lucrative region for the firms that develop passenger drones and related systems, due to the increasing focus of countries such as China, Japan, and South Korea.

Factors such as growing urban population, rising traffic congestion problems, rapid technological advancements and decline in drone costs, and rising participation of companies are driving the market growth. Meanwhile, limited endurance and safety concerns are hindering the market growth to a certain extent and factors such as lack of regulatory framework, supporting infrastructure, cohesive air-traffic management network, and skilled drone operators/pilots are a significant challenge to the market. However, the focus on reducing vehicular pollution will offer promising growth opportunities for the market.

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Players Covered

Some of the key players profiled in the report include-

  • AeroMobil (Slovakia)
  • Airbus S.A.S. (France)
  • Boeing (U.S.)
  • Cartivator (Japan)
  • EHANG (China)
  • Joby Aviation (U.S.)
  • Lilium (Germany)
  • TERRAFUGIA (U.S.)
  • Uber Technologies Inc. (U.S.)
  • Volocopter GmbH (Germany)

The report offers insights into the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives.

Report Overview

The report provides in-depth information of the recent market scenario, historical market trends, and correlations between the market dynamics and forecasts. The market size in report covers the parameters of the market in terms of value. Along with the market size, the study segments the passenger drones market based on component, capacity, application, rotor, and region, delivering actionable insights. This section helps the report users to identify the segments that are highly lucrative and capitalize on growth opportunities while minimizing risks. The report also explores market dynamics such as drivers, trends, opportunities, and restraints, impacting the growth of the market segments. The section also sheds light on the key micro and macroeconomic factors influencing the growth of the market.

The market, by component, is segmented into five types, namely airframe, controller system, navigation system, propulsion system, and others. The market by capacity is segmented into up to 100 kg and over 100 kg. The market by application has been segmented into two types, namely commercial and personal. The market has been segmented on the basis of rotor into two types, namely less than 10 rotors and more than 10 rotors. All the above mentioned segments are profiled under four major geographies– North America, Europe, Asia Pacific, and Rest of the World, with the respective country-level market sizes. For the scope of the research, definition of the product “passengers drone market” is also included in the report. The report discusses the current and future trends of the market and delivers an unbias growth assessment.

Market Segmentation 

The global passenger drones market has been segmented by capacity up to 100 kg and over 100 kg. Presently, most of the drones developed fall into the up to 100 kg category. However, companies such as Uber Technologies Inc. are keen on the commercialization of passenger drones, which might not be viable if the drone has less capacity. Hence, the over 100 kg segment is projected to witness a CAGR of 30.33% during the forecast period and will surpass the market size for up to 100 kg segment by 2024.

The global passenger drones market, in this report, has been segmented on the basis of application into two types, namely commercial and personal. Till date, apart from a few exhibits and test flights, there is no wide-scale implementation of passenger drones. However, over the next decade, it is most likely that the passenger drones will be commonly used in amusement parks and other tourist destinations, hospitals for emergency purposes, police for security and surveillance purposes, and so on. Hence, the commercial segment is expected to lead the market and register the highest CAGR during the forecast period.

The global passenger drones market, in this report, has been segmented on the basis of rotor into two types, namely less than 10 rotors and more than 10 rotors. Drones which are being developed by Volocopter GmbH, JOBY Aviation, and Lilium fall under more than 10 rotors category. Meanwhile, based on the present designs, the number of rotors is in direct correlation with the speed, range, and capacity of the passenger drones. Therefore, the more than 10 rotors segment is projected to register the highest CAGR during the forecast period.

Regional Summary

Led by Germany, Europe holds the largest share of the passenger drones market. It is expected to lead the market throughout the forecast period. In 2017, Europe accounted for more than 30% share of the global market; is expected to retain its position during the forecast period. The presence of companies such as Airbus S.A.S, Lilium, and Volocopter GmbH is expected to boost the European market over the next decade. The key drivers for the European market are increasing joint ventures & partnerships along with rapid technological advancements.

The U.S. is at the forefront in developing passenger drones, and this country is the single largest market on the global scale. The U.S. Department of Transportation is focusing on the process which is similar to approving traditional commercial air carriers for the approval of passenger drones as well. This country houses companies such as Boeing and Uber Technologies Inc. which are very active in the passenger drone market space. Meanwhile, the U.S. has a couple of cities, such as Los Angeles and New York, which face high levels of traffic congestion. Passenger drones could prove a beneficial solution in these areas.

Meanwhile, in Asia Pacific is the second largest market and the passenger drones market in this region is poised to expand at the highest CAGR during the forecast period. The increasing urban population, rising disposable income and focus on drones for transportation purposes will bolster the market growth in this region. China, Japan, and South Korea are promising markets for passenger drones. The leading companies dominated the APAC regions are EHANG and Cartivator.

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Table of Contents

1 Executive Summary

2 Market Introduction
2.1 Definition 
2.2 Scope of the Study 
2.3 List of Assumptions 
2.4 Market Structure 
2.5 Key Takeaways 
2.6 Key Buying Criteria

3 Research Methodology
3.1 Research Process 
3.2 Primary Research 
3.3 Secondary Research 
3.4 Market Size Estimation 
3.5 Forecast Model

4 Market Dynamics
4.1 Introduction 
4.2 Drivers 
4.2.1 Growing Urban Population Coupled With Rising Traffic Congestion Problems 
4.2.2 Rapid Technological Advancements and Decline in Drone Costs 
4.2.3 Rising Participation of Companies 
4.3 Restraints 
4.3.1 Limited Endurance 
4.3.2 Safety Concerns 
4.4 Opportunity 
4.4.1 Focus on Reducing Vehicular Pollution 
4.5 Challenge 
4.5.1 Lack of Regulatory Framework and Supporting Infrastructure

5 Market Factor Analysis
5.1 Supply Chain 
5.2 Porter’s Five Forces Model 
5.2.1 Threat of New Entrants 
5.2.2 Bargaining Power of Suppliers 
5.2.3 Bargaining Power of Buyers 
5.2.4 Threat of Substitutes 
5.2.5 Intensity of Rivalry

Continued…….

List of Tables

Table 1 Market Synopsis 
Table 2 List of Assumptions 
Table 3 Global Passenger Drones Market, by Component, 2017 – 2024 (Usd Million) 
Table 4 Global Passenger Drones Market, by Capacity, 2017 – 2024 (Usd Million) 
Table 5 Global Passenger Drones Market, by Application, 2017 – 2024 (Usd Million) 
Table 6 Global Passenger Drones Market, by Rotor, 2017 – 2024 (Usd Million) 
Table 7 Global Passenger Drones Market, by Region, 2017-2024 (Usd Million) 
Table 8 North America: Passenger Drones Market, by Country, 2017-2024 (Usd Million) 
Table 9 North America: Passenger Drones Market, by Component, 2017-2024 (Usd Million)

Continued…….

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