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

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.

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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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