Drone Taxi Market Size, Share, Trends Analysis, 2032

Drone Taxi Market Insights

According to the report published by Zion Market Research, the global Drone Taxi Market size was valued at USD 26.67 Million in 2023 and is predicted to reach USD 2336.98 Million by the end of 2032. The market is expected to grow with a CAGR of 64.38% during the forecast period. The report analyzes the global Drone Taxi Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the rising opportunities in the Drone Taxi industry.

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Global Drone Taxi Market: Overview

Drones are unmanned aircraft that can be controlled autonomously using a remote flight controller. Drone taxis are manufactured with light composite materials for reducing weight and increasing maneuverability. A drone taxi is used specifically to carry passengers for intercity or intracity transportation. They will be equipped with cutting-edge technology which is silent, safe, and environmentally friendly. Drone taxis can be operated fully electric, electric hydrogen, or hybrid electric. Drone taxis offer wide applications in areas such as reduction in traffic congestion, increased transportation efficiency, sustainability, and noise reduction.

Global Drone Taxi Market: Growth Factors

The global drone taxi market is growing at a speedy rate. The global rise in the adoption of next-generation transportation systems using automated systems is the key driving factor for the growth of the drone taxi market. Factors such as the reduced cost of automobiles, the growing automobile industry, and rising concern over environmental degradation are further contributing to the growth of the drone taxi market. Moreover, the rising issue of transportation and increasing traffic congestion in urban areas is likely to lead to the adoption of drone taxis in the coming years. Factors such as increasing government initiatives for smart cities and increasing focus on providing access to urban areas have created opportunities for technology consultants and developers. Due to this, leading players are focusing on introducing advanced solutions for urban infrastructure design and development. All these factors are spurring the growth of the global drone taxi market.

However, stringent government regulations associated with aviation licenses restrain the market growth. In addition, the deployment of drone taxis across the globe will help to challenge road traffic crowding but on the other hand, it will be costlier to advantage of the services provided. Furthermore, the rising need for alternative modes of transportation and rapid innovations in drone taxis by leading players will offer a wide range of growth opportunities for the growth of the global drone taxi market in the forecast period.

The outbreak of the COVID-19 pandemic has had an unusual impact worldwide. This pandemic has introduced new consequences in the industrial world, especially in aviation. Drone taxis are in the development stage and focusing on technological advancement and innovation. However, due to the outbreak of COVID-19, the government has imposed a halt on manufacturing, production, and development units of the industries. Thus, the lack of accessibility to the development centers and the temporary shutdown of production units impact the drone taxi manufacturing units. On the other hand, key players in the market investing in mergers and acquisitions are expected to drive the growth of the market in the forecast period.

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Global Drone Taxi Market: Segmentation

The global drone taxi market is divided based on system, propulsion type, passenger capacity, end-use, range, autonomy, and region.

Based on the system, the global drone taxi market is split into structure, avionics, interior, propulsion, and others. The propulsion type segment is bifurcated into fully electric, electric hydrogen, and hybrid. The passenger capacity segment consists of up to 2, 3 to 5, and more than 5. Scheduled operators, hospital & medical agencies, ride-sharing companies, and private operators are the end-users of drone taxis. The range segment is bifurcated into intracity and intercity. The autonomy segment consists of remotely piloted and fully autonomous.

Drone Taxi Market: Report Scope

Global Drone Taxi Market: Regional Analysis

North American region is expected to hold the major share of the global drone taxi market during the forecast period. Growing investment of key players in drone taxi infrastructure to reduce the stress on the existing transportation system in the region is expected to drive the market growth. Further, rising concern over a significant rise in carbon emissions along with new government regulations on reducing emissions propels the demand for the drone taxi market.

On the other hand, Asia Pacific is anticipated to grow at a faster pace and is anticipated to offer lucrative opportunities for market growth. Some of the factors that are propelling the growth of the market in this region include technological innovation in emerging markets such as Japan and China. Further, rising disposable income, rising traffic mobbing in urban areas, and increasing demand for faster modes of transportation are expected to foster the demand for drone taxis in the Asia Pacific region.

Global Drone Taxi Market: Competitive Players

An increasing number of investments made by the aviation industry's key players, increasing development activities, and rising demand for pollution-controlled vehicles are expected to enhance the market growth shortly. Furthermore, the key players in the market focus on strategic partnership and acquisition, which propel market growth. Some of the dominant players that are functioning in the global drone taxi market include;

• Airbus SAS
• Textron Inc.
• Boeing
• Lilium
• Ehang
• Volocopter
• Joby Aviation
• Lift Aircraft
• Skydrive Inc
• Karem Aircraft
• Micor Technology LLC

For instance, in March 2021, Lilium entered into a strategic collaboration agreement with Qell Acquisition Crop.

The global drone taxi market is segmented as follows;

By System

• Structure
• Avionics
• Interior
• Propulsion
• Other

By Propulsion Type

• Fully Electric
• Electric Hydrogen
• Hybrid

By Passenger Capacity

• Up to 2
• 3 to 5
• More Than 5

By End-User

• Scheduled Operators
• Hospital & Medical Agencies
• Ride-Sharing Companies
• Private Operators

By Range

• Intracity
• Intercity

By Autonomy

• Remotely Piloted
• Fully Autonomous

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.