AeroMobil (Slovakia), Cartivator (Japan), Airbus SAS (France), EHANG (China), Lilium (Germany), Joby Aviation (US), TERRAFUGIA (US), Uber Technologies Inc. (US), The Boeing Company (US), and Volocopter GmbH (Germany) are some of the important participants of the global passenger drones market.
Passenger Drones Market Synopsis:
Passenger drone is a prime area of research, and increasing number of companies are investing in air taxis, air cargos, etc. This is likely to open new growth avenues for the product. The global passenger drones market, as per Market Research Future (MRFR)’s analysis, is poised to strike 27.74% CAGR during the forecast period 2019 to 2025. The market is further assessed to reach a valuation of USD 851.2 Mn by 2024.
The rising urban population has triggered severe traffic problems. This is likely to motivate the growth pattern of the passenger drones market in the coming years. Other factors such as declining drone costs, technological developments, increasing participation of companies, etc. are poised to provide impetus to the expansion of the market.
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Passenger Drones Market Segmentation:
Based on component, the passenger drones market has been segmented into airframe, a navigation system, controller system, propulsion system, and others. The airframe segment is anticipated to register the fastest growth rate over the next couple of years. The focus on the development of drone airframe structures with higher durability and reduced size is expected to lead the proliferation of the segment in the years to come.
The passenger drones market, on the basis of capacity, has been divided into over 100 kg and up to 100 kg. The up to 100 kg segments are projected to hold the leading share of the global market across the forecast period. It is likely to retain its position in the market place owing to the rising presence of these drones on the global front.
On the basis of application, the passenger drones market is divided into commercial and personal. Among these, the commercial segment is anticipated to flourish over the next couple of years and hold the most prominent position in the market during the evaluation period.
On the basis of rotor, the passenger drones market has been bifurcated into more than 10 and less than 10. The more than 10 rotors segment is anticipated to expand at a higher CAGR over the next few years.
Passenger Drones Market Regional Analysis:
The key regional segments of the global passenger drones market profiled in this report are – North America, Asia Pacific (APAC), Europe, the Middle East & Africa, and Latin America. Europe holds the largest share of the global market and is anticipated to retain it through the evaluation period. Germany is assessed to emerge as the most prominent country-level passenger drone market in the region. Increasing partnerships and joint ventures for the development of the product is poised to expedite the growth of the passenger drones market in the region in the upcoming years.
North America is expected to exhibit rapid growth at the second sport in the upcoming years. The technological innovations and product launches introduced by the key players of the region are anticipated to lead the expansion of the passenger drones market. The market in Asia Pacific is gaining momentum owing to the developments in countries such as China, Japan, and South Korea. Other factors anticipated to catalyze market growth in the region are rising per capita income, increasing urban population, etc.
Passenger Drones Industry News:
In October 2019, German automaker Porsche has partnered with aircraft manufacturer Boeing for the development of flying taxis using passenger drones.
In September 2019, Uber, a global fleet management company, has recently appointed the first head of its Uber Air business, Australia. This implies that the company will be shortly starting its passenger drone services in the region.
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