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Flying Cars Market Size

ID: MRFR//5890-CR | 136 Pages | Author: Sejal Akre| October 2020

The market factors influencing the emerging realm of flying cars are varied and complex, shaping the trajectory of this futuristic transportation sector. One of the primary drivers is the growing need for innovative and efficient urban mobility solutions. As urbanization accelerates, cities grapple with congestion and limited ground infrastructure, prompting a demand for alternative transportation modes. Flying cars, or vertical takeoff and landing (VTOL) vehicles, present a promising solution to alleviate traffic woes and provide a faster means of transportation in densely populated urban areas.

Advancements in technology play a pivotal role in driving the development of flying cars. The integration of electric propulsion, autonomous systems, and advanced materials has made it feasible to design and manufacture these aerial vehicles. Electric propulsion systems, in particular, contribute to the sustainability of flying cars, aligning with the global push towards reducing carbon emissions. As battery technology improves and becomes more energy-dense, the range and efficiency of flying cars are expected to increase, making them more practical for everyday use.

Regulatory frameworks and certification processes are critical market factors influencing the adoption of flying cars. As these vehicles pose unique challenges to air traffic management and safety, regulatory bodies play a crucial role in establishing guidelines for their operation. Certification processes ensure that flying cars meet stringent safety standards, addressing concerns related to airworthiness, collision avoidance, and overall reliability. The alignment of regulatory frameworks with technological advancements is crucial for fostering public trust and enabling the widespread integration of flying cars into existing airspaces.

Infrastructure development is another key factor shaping the market for flying cars. Unlike traditional automobiles, flying cars require specialized infrastructure, including vertiports or helipads for takeoff and landing. The development of a network of such infrastructure is essential for the practical implementation of flying cars in urban environments. Companies and governments investing in the construction of vertiports contribute to the market by creating the necessary groundwork for the widespread adoption of flying cars.

Consumer acceptance and societal readiness also significantly influence the market dynamics of flying cars. The success of this transformative mode of transportation relies on public willingness to embrace the concept of personal air travel. Factors such as safety perception, noise levels, and the overall integration of flying cars into daily life contribute to consumer acceptance. Public awareness campaigns, educational initiatives, and pilot programs play a role in shaping societal readiness for the advent of flying cars.

Economic factors, including manufacturing costs, operational expenses, and the overall affordability of flying cars, impact their market penetration. Initial costs associated with research, development, and production can be substantial, influencing the pricing of flying cars. However, as technology matures and production scales up, the cost is expected to decrease, making these vehicles more accessible to a broader consumer base.

Competitive dynamics in the flying car market involve a mix of established aerospace companies, automotive manufacturers, and startups. Strategic collaborations, partnerships, and investments in research and development are common strategies employed by companies to gain a competitive edge. The ability to navigate complex regulatory landscapes, develop reliable technologies, and establish a robust support infrastructure becomes crucial for companies vying for a significant market share in the nascent flying car industry.

The market factors driving the development and adoption of flying cars are multifaceted. Urban mobility needs, technological advancements, regulatory frameworks, infrastructure development, consumer acceptance, economic considerations, and competitive dynamics collectively shape the landscape of the flying car market. As companies continue to innovate and address the challenges associated with this transformative mode of transportation, the future may witness the integration of flying cars into our daily lives, redefining the way we navigate and experience urban environments.

Covered Aspects:

Report Attribute/Metric Details
Market Size Value In 2022 USD 0.42 Billion
Growth Rate 43.70% (2022-2030)

Flying Cars Market Overview:

Flying Cars Market Size was valued at USD 0.29 billion in 2021. The global flying cars market industry is projected to grow from USD 0.42 billion in 2022 to USD 5.28 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 43.70% during the forecast period (2022–2030). It is projected that a major market driver contributing to market expansion would be rising purchasing power and the continually evolving lifestyles and preferences around the world. The focus on using flying vehicles for transportation, the increase in traffic, and the growth of the urban population all help to boost market demand.

Flying Cars Market

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Flying Cars Market Trends

  • Increasing demand for environmentally friendly transportation to propel the market growth

Over the course of the projected period, the market for flying cars will expand due to the rising need for ecologically friendly transportation. VTOL is the method used by flying cars to launch themselves into the air. In a poll conducted in 2021 by IBM, 77% of participants said they were interested in sustainable transportation options and felt that it was necessary to reduce personal carbon footprints. 1% of the respondents thought electric vehicles (EVs) were a sustainable option for daily transportation. Comparing flying vehicles to passenger cars, the latter are considerably more effective on longer journeys than on shorter ones. The market for flying cars is therefore anticipated to develop as a result of the rising demand for ecologically friendly transportation. Thus, this factor is driving the market's CAGR.

Furthermore, the most frequently used land transportation method, namely road and train transportation, is impacted by road and track restrictions, resulting in deprived controllability and traffic congestion, particularly in urban regions. Water transportation (such as sea and inland water transportation) is also used mostly for distant goods delivery due to its low prices, although it is not practical for the majority of urban areas. Additionally, the HAS (High Altitude Space) transportation system, or air transportation system, is typically utilised for long-distance or international passenger and freight transportation. Urban use is not possible due to the significantly greater cost. Therefore, only NGS (near ground space, underground, and ground) transit options are suitable for urban settings. As a result, it is anticipated that the introduction of such cars in the years to come will attract considerable interest from the urban population and result in major demand on the worldwide market.

However, aerial vehicles, often known as flying cars, can be driven both on the ground and in the air, allowing for seamless transitions between the two. Engineers, scientists, and well-known automobile and aircraft businesses have been drawn to the potential advantages of deploying aerial vehicles in urban settings. For instance, Uber intends to introduce an air taxi service over the next few years. In order to conduct research and create cost-effective air transportation solutions, Toyota Motors has also invested almost $400 million in Joby Aviation. Various research initiatives, such as the NASA Urban Air Mobility Grand Challenge Program or the EC request for sustainable air travel, are investigating various facets of this cutting-edge mode of urban transportation. Thus, it is anticipated that this aspect will accelerate flying cars market revenue globally.

Flying Cars Market Segment Insights:

Flying Cars Product Insights

The Flying Cars Market segmentation, based on product is divided into Flying Cars and Passenger Drones. The passenger drones segment dominated the flying cars market data in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Unmanned passenger aircraft is another name for passenger drones (UAVs). Additionally, it is anticipated that increased use of passenger drones will result from the rapid development of aerial unmanned technology, the growing need to alleviate the problem of traffic congestion, and the rise in interest in investing in the production of environmentally friendly unmanned aerial vehicles.

Flying Cars Capacity Insights

The Flying Cars Market segmentation has been segmented by capacity into 2-Person Sitter, 3 & 4-Person Sitter and 5-Person Sitter. The 2-person sitter segment dominated the market growth in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This segment's revenue is growing as a result of higher demand brought on by better fuel economy and performance. High-speed data transfer and quick networking between adjacent servers are two benefits of a flying car with two seats that is outfitted with cutting-edge artificial intelligence and blockchain technology.

Figure 2: Flying Cars Market by Capacity, 2021 & 2030 (USD Billion)

Flying Cars Market by Capacity, 2021 & 2030

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Flying Cars Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America flying cars market accounted for USD 0.13 billion in 2021 and is expected to exhibit a 45.70% CAGR during the study period due to the region's early adoption of new technology and the presence of the biggest firms. The market for flying cars in this region is expanding due to the increased number of flying car projects and the necessity for sustainable development of electric vehicles in the commercial and public transportation sectors.

Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Flying Cars Market Share By Region 2021 (%)

Flying Cars Market Share By Region 2021

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe flying cars market accounts for the fastest growing market share. This market is expanding as a result of increased unmanned flying car demand and rising R&D expenditures for the creation of advanced flying cars. Additionally, strict safety standards are fueling this market's expansion. Moreover, Germany flying cars market held the largest market share, and the UK flying cars market was the fastest-growing market in this region.

Asia Pacific flying cars market is expected to grow at a substantial CAGR from 2022 to 2030 due to growing technical usage and expanding investment in the development of environmentally friendly drone vehicles. The Asia Pacific region is also seeing advancements in this direction, as recently tested such two-seater vehicles in Seoul, South Korea, by EHang Holdings, one of the country's largest listed enterprises. Further, the Japan flying cars market held the largest market share, and the South Korea market was the fastest-growing market in the region.

Flying Cars Key Market Players & Competitive Insights

Major market players are spending a lot on R&D to increase their product lines, which will help the flying cars industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.

One of the primary business strategies manufacturers adopt in the global flying cars industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. In recent years, flying cars industry has provided medicine with some of the most significant benefits. The flying cars market major player such as  Volocopter GmbH (Germany), A³ by Airbus (US), AeroMobil (Slovakia), Boeing (US), Cartivator (Japan), EHANG (China), TERRAFUGIA (US), Joby Aviation (US), Lilium (Germany) and Uber Technologies Inc. (US).

Alexander Zosel and Stephan Wolf founded the German aircraft manufacturer Volocopter GmbH, which has its headquarters in Bruchsal. The business focuses in creating electric multirotor helicopters that are used as air taxis and are shaped like personal air cars. In October 2022, at the Leonardo da Vinci International Airport, Volocopter successfully completed the first eVTOL test flight with passengers on board in Italian airspace. This test is an important step toward the 2024 introduction of Rome's advanced air mobility (AAM) services.

San Francisco-based Uber Technologies, Inc. offers ride-hailing, food delivery, package delivery, courier services, and freight transportation in addition to mobility as a service. In December 2020, Uber Technologies will provide Joby Aviation a USD 75 million investment. As part of a large transaction involving the purchase of Uber Elevate and the strengthening of the relationship between the two parent businesses, Uber Technologies, Inc. agreed to invest USD 75 million in Joby Aviation.

List of the Key companies in the flying cars market includes

  • Volocopter GmbH (Germany)

  • A³ by Airbus (US)

  • AeroMobil (Slovakia)

  • Boeing (US)

  • Cartivator (Japan)

  • EHANG (China)


  • Joby Aviation (US)

  • Lilium (Germany)

  • Uber Technologies Inc. (US)

Flying Cars Industry Developments

January 2021: Together with Lilium, Ferrovial has decided to develop vertical port networks. A framework agreement for at least ten vertical port networks has been signed by Lilium, the airline developing all-electric vertical take-off and landing (e-VTOL) jets, and Ferrovial, the top infrastructure supplier in the world.

March 2020: A Dutch business named PAL-V announced plans to construct a factory in Gujarat, stating that the vehicles made there would be exported to the United States and other European nations. Carlo Maasbommel, Vice President of PAL-International V's Business Development, and MK Das, Principal Secretary of State Industries, jointly signed a memorandum of understanding.

Flying Cars Market Segmentation

Flying Cars Product Outlook (USD Billion, 2018-2030)

  • Flying Cars


Flying Cars Capacity Outlook (USD Billion, 2018-2030)

  • 2-Person Sitter

  • 3 and 4-Person Sitter

  • 5-Person Sitter

Flying Cars Regional Outlook (USD Billion, 2018-2030)

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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