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Electric Air Taxi Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71705
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The electric air taxi market share is expected to increase by USD 9.47 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 27.70%.

This electric air taxi market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric air taxi market segmentation by type (two-seat aircraft and four-seat aircraft) and geography (North America, Europe, APAC, South America, and MEA). The electric air taxi market report also offers information on several market vendors, including Airbus SE, Joby Aviation Inc., Kitty Hawk Corp., Lilium N.V, Neva Aerospace Ltd., Nurol Holding Inc., Rolls-Royce Plc, Skyway Air Taxi LLC, The Boeing Co., and Volocopter GmbH among others.

What will the Electric Air Taxi Market Size be During the Forecast Period?

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Electric Air Taxi Market: Key Drivers and Challenges

The increasing need for clean and quiet aircraft is notably driving the electric air taxi market growth, although factors such as relatively immature technologies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric air taxi industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Air Taxi Market Driver

There has been an increasing demand for electric air taxis over those that operate on fossil fuels to reduce the aviation industry's carbon footprint. Organizations and government bodies, such as the International Civil Aviation Organization, the US Federal Aviation Administration, and the European Union Aviation Safety Agency, have called for sustainable fuel alternatives in aircraft, estimating that by 2050, aircraft-generated emissions will have tripled in volume. Electric engines do not produce the level of noise associated with jet or combustion engines, and thus, they also lower noise pollution as well. By replacing hydraulically operated systems with electric ones, manufacturers of electric aircraft hope to enhance the efficiency of electric air taxis. These factors will increase the development of electric air taxis during the forecast period. 

Key Electric Air Taxi Market Challenge

The concept of light electric aircraft focuses on the replacement of pneumatic and hydraulic systems with electricity-driven alternatives. This gives rise to the need for higher electrical power than that generated from traditional technologies. This, in turn, necessitates more effectual cooling and dynamic control over power generation and conversion. Fuel efficiency is controlled to a great extent by the weight of an aircraft. Although one of the basic ideas behind the adoption of electric air taxis is reducing fuel consumption, the associated technologies are not sufficiently mature to meet the performance benchmarks. Therefore, most startups lack an actual flying prototype of electric taxi care, they only have a design in the form of digital animation. Therefore, such challenges are difficult to address at the component and box levels, which will likely hamper the growth of the global electric air taxi market during the forecast period.

This electric air taxi market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Electric Air Taxi Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Airbus SE
  • Joby Aviation Inc.
  • Kitty Hawk Corp.
  • Lilium N.V
  • Neva Aerospace Ltd.
  • Nurol Holding Inc. 
  • Rolls-Royce Plc
  • Skyway Air Taxi LLC 
  • The Boeing Co.
  • Volocopter GmbH

 

This statistical study of the electric air taxi market encompasses successful business strategies deployed by the key vendors. The electric air taxi market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electric air taxi market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Electric Air Taxi Market?

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30% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for electric air taxis in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Electric Air Taxi Market?

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The electric air taxi market share growth by the two-seater aircraft segment will be significant during the forecast period. Electric air taxis using two-seater aircraft provide efficient operation and are intended for shorter distance travel. Various companies in the aviation and transportation industries are making investments in the development of air taxis across the globe. For instance, in June 2021, Archer Aviation, a US-based startup, launched new two-passenger electric aircraft, which will serve as the basis for a future fleet of air taxis. Similarly, The ePlane Company, an IIT Madras-based startup in India, raised $1 million in 2020 to develop two-seater electric taxis. Such investment and development plans will drive the demand in the segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the electric air taxi market size and actionable market insights on post COVID-19 impact on each segment.

 

Electric Air Taxi Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 27.70%

Market growth 2022-2026

$ 9.47 billion

Market structure

Fragmented

YoY growth (%)

26.68

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 30%

Key consumer countries

US, Germany, China, UK, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Airbus SE, Joby Aviation Inc., Kitty Hawk Corp., Lilium N.V, Neva Aerospace Ltd., Nurol Holding Inc., Rolls-Royce Plc, Skyway Air Taxi LLC, The Boeing Co., and Volocopter GmbH

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Electric Air Taxi Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive electric air taxi market growth during the next five years
  • Precise estimation of the electric air taxi market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric air taxi industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric air taxi market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • Two-seat aircraft - Market size and forecast 2021-2026
    • Four-seat aircraft - Market size and forecast 2021-2026
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2021-2026
      • Europe - Market size and forecast 2021-2026
      • APAC - Market size and forecast 2021-2026
      • South America - Market size and forecast 2021-2026
      • MEA - Market size and forecast 2021-2026
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Airbus SE
      • Joby Aviation Inc.
      • Kitty Hawk Corp.
      • Lilium N.V
      • Neva Aerospace Ltd.
      • Nurol Holding Inc. 
      • Rolls-Royce Plc
      • Skyway Air Taxi LLC 
      • The Boeing Co.
      • Volocopter GmbH

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The electric air taxi market growth will increase by $9471.31 million during 2021-2026.
      The electric air taxi market is expected to grow at a CAGR of 27.70% during 2021-2026.
      Technavio has segmented the electric air taxi market by type (Two-seat aircraft and Four-seat aircraft) and geographic (North America, Europe, APAC, South America, and MEA).
      Airbus SE, Joby Aviation Inc., Kitty Hawk Corp., Lilium N.V, Neva Aerospace Ltd., Nurol Holding Inc. , Rolls-Royce Plc, Skyway Air Taxi LLC , The Boeing Co., Volocopter GmbH are a few of the key vendors in the electric air taxi market.
      North America will register the highest growth rate of 30.32% among the other regions. Therefore, the electric air taxi market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the electric air taxi market growth are:
      • Increasing need for clean and quiet aircraft
      The electric air taxi market vendors should focus on grabbing business opportunities from the two-seat aircraft segment as it accounted for the largest market share in the base year.
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