Flying car market size worth USD 1533.471 billion,

Pune, India, October 4, 2022 (GLOBE NEWSWIRE) — The world flying car market was USD 55.00 million in 2021. The global market size is expected to be USD 255.37 million in 2022 and is projected to reach USD 1533.471 billion by 2040, exhibiting a CAGR of 58.1% during the forecast period of 2022-2040. This information is provided by Fortune Business Insights, in its report, titled “Flying Car Market, 2021-2040.”

According to our analysts, factors such as the growing popularity of small drones to intensify the market and Ferrovial’s Framework Agreement for Ten Vertical Port Networks to encourage growth.

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Report Highlights:

Report Coverage Details
forecast period 2021-2040
Forecast period 2022 to 2040 CAGR 58.1%
2040 value projection $1.533 billion
base year 2021
Market size in 2021 $55.00 million
Historical data for 2020-2021
Number of pages 200
Covered segments By product type, by application and by region
growth controllers Increased investments from major corporations to drive market growth
Alliances and Collaborations of Eminent Companies to Strengthen Businesses

Impacts of COVID-19:

This pandemic has disrupted many industries, including manufacturing and aviation industries. Changes in consumer tastes and buying habits induced by global economic volatility could have an effect on the flying car market during the forecast period. The pandemic could also contribute to a decrease in vehicles and associated products due to the implementation of remote work policies. Furthermore, due to limitations on public gatherings and travel bans in many countries, the growth of the global flying car industry is likely to be limited within the estimated time period.

For more information on the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/flying-cars-market-105378

Drivers and Restrictions:

Increased investments from major corporations to drive market growth

Flying cars, also known as aerial vehicles, can function on the ground and in the air, allowing them to transition between the two types. The theoretical benefits of using flying cars in urban areas have sparked the interest of architects, scientists, and major vehicle and aircraft manufacturers. For example, in the near future, Uber will operate an air taxi service. Joby Aviation, a subsidiary of Toyota Motor Corporation, received a $400 million investment from Toyota to improve fast, quiet and affordable air transportation services. Simultaneously, a growing variety of research programs, such as the European Commission’s call for sustainable air travel or NASA’s Urban Air Mobility Grand Challenge Program, are looking at various facets of this innovative mode of urban transportation.

Association of Terrafugia and AOSSCI to boost the market

Terrafugia, a Chinese-owned corporation, headquartered in Woburn, Massachusetts, United States, announced that it has signed a partnership agreement with AOSSCI, a Chinese drone producer created by Aerofugia Technology (Chengdu) Co., Ltd. According to the CEO of Aerofugia , Jing Chao , the new firm, a subsidiary of China’s Geely Technology Group, will have unified solutions in the general aviation market. The similar technical paths of the two companies laid the foundation for the merger, thereby promoting technology sharing, improving product durability and R&D performance, and reducing costs. According to the CEO, the two firms will combine their development teams while maintaining the original trademarks for potential airlift and UAV devices. Terrafugia’s operations and properties were acquired by Geely, one of China’s largest private automakers, in 2017.

This pandemic has disrupted many industries, including manufacturing and aviation industries. Changes in consumer tastes and buying habits induced by global economic volatility could have an effect on the flying car market during the forecast period. The pandemic could also contribute to a decrease in vehicles and associated products due to the implementation of remote work policies. Furthermore, due to limitations on public gatherings and travel bans in many countries, the growth of the global flying car industry is likely to be limited within the estimated time period.

Industry developments:

January 2021: Ferrovial, the world’s leading infrastructure provider and developer of all-electric vertical take-off and landing (e-VTOL) aircraft and services, signs a framework agreement to develop at least ten vertical port networks.

List of key players mentioned in the report:

  • AeroMobil (Slovakia)
  • Boeing (Illinois, United States)
  • Joby Aviation (California, United States)
  • Airbus (Leiden, The Netherlands)
  • PAL-V International BV (Netherlands)
  • Samson Motorworks (Oregon, United States)
  • Cartivator (Tokyo, Japan)
  • Uber Technologies (California, United States)
  • Urban Aeronautics (Yavne, Israel)
  • Volcopter GmbH (Bruchsal, Germany)
  • Moller International (California, United States)

Quick Buy – Flying Car Market Size research report: https://www.fortunebusinessinsights.com/checkout-page/105378

Segments:

Passenger drones to dominate the market

Based on product type, the market is segmented into flying cars and passenger drones. The passenger drone segment has a significant share of the flying car market. Passenger drones are expected to see increased demand in the coming years.

Based on the type of application, the market is categorized into military, commercial, and civil. The military segment is expected to dominate the market during the forecast period due to the series of tests. The Air Force Research Laboratory’s AFWERX Innovation Program reports that the “Agile Prime” service has passed many regulations to advance its “Organic Supply Bus” (ORB) program.

Geographically, the market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Benefits for Flying Cars Market:

  • The Flying Cars Market analysis covers detailed information of the leading industry participants.
  • Porter’s five forces analysis helps to analyze the potential of buyers and suppliers and the competitive landscape of the industry for the construction of strategies.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides an in-depth analysis of the Flying Cars market during the forecast period (2022-2040).
  • The report depicts current market trends and future scenario of the global Flying Cars market to understand the prevailing opportunities and potential investment pockets.
  • The study clarifies the key drivers, constraints and opportunities and their detailed impact analysis.

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Regional perspectives:

The market size in North America was USD 27.63 million in 2021. The growth is attributed to the high demand for flying cars.

The presence of large corporations will influence the healthy growth of the market in the United States and Canada. The continued development of Samson Motors, Inc. and Uber Technologies Inc will drive positive growth in the region.

Competitive landscape:

Alliances and Collaborations of Eminent Companies to Strengthen Businesses

Companies operating in the market participate in partnerships and mergers to strengthen their position in the industry. For example, Archer, an electric flying car startup, collaborated with Fiat Chrysler to reduce purchase costs and improve electric flying cars, or vertical takeoff and landing (eVTOL) aircraft, which are intended to carry passengers with a minimal noise. Top speed can reach 150 mph (60 mph). Other prominent players in the market, such as Joby Aviation, Boeing, Airbus and PAL-V International BV, are focusing on the development and engineering of flying cars.

Global flying car market Size Segmentation:

By type of product

  • Flying cars
  • passenger drones

By type of application:

Table of Contents

1. Introduction
1.1. Scope of the investigation
1.2. Market segmentation
1.3. Research methodology
1.4. Definitions and assumptions
2. Executive Summary
3. Market dynamics
3.1. market indicators
3.2. market restrictions
3.3. market opportunities
4. Key information
4.1 Mergers, Acquisitions and Companies
4.2 Dealer Analysis – For Major Players
4.3 Growth and penetration analysis
4.4 Porter’s five forces analysis
4.5 PEST Analysis
4.6 Provider landscape
4.7 Impact of COVID-19 on the market
5. Global Flying Car Market Analysis, Outlook and Forecast, 2022-2040
5.1. Key Findings/Summary
5.2. Market analysis, prospects and forecasts: by product type
5.2.1 Flying cars
5.2.2 Passenger drones
5.2.3 Others
5.3. Market Analysis, Outlook and Forecast – By Application Type
5.3.1 Military
5.3.2 Commercial
5.3.3 Civilians
5.4. Market Analysis, Outlook and Forecast – By Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Rest of the world
6. North America Flying Car Market Analysis, Outlook and Forecast, 2022-2040
6.1. Key Findings/Summary
6.2. Market analysis: by type of product
6.2.1 Flying cars
6.2.2 Passenger drones
6.2.3 Others
6.3. Market analysis: by type of application
6.3.1 Military
6.3.2 Commercial
6.3.3 Civilians

Continued…

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