Passenger Drones Market Research Report - Global Forecast till 2030

Passenger Drones Market Research Report: Information by Component (Airframe, Controller System, Navigation System, Propulsion System and others), by Capacity (Up to 100 kg and Over 100 kg), by Application (Commercial and Personal), by Rotor (Less Than 10 and More Than 10) - Forecast till 2030

ID: MRFR/A&D/3943-CR | 123 Pages | Published By Sejal Akre on August 2019         

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Passenger Drones Market Overview


Passenger Drones Market Size Was Valued at a USD 190.01 Million In 2020 And Is Anticipated To Grow At A CAGR Of 32.01% By 2020-2030


The market is so lucrative and has such strong growth in the short and long-term that many companies are investing in drones for use to transport people, mail, or carry sick people to hospitals and medical clinics during medical emergencies. Many factors are driving rapid growth in this industry. Some of them are increased urbanization in many nations around the world, increasing traffic congestion, and overcrowded roads. Rapid technological advancements, a real drop in the cost of manufacturing and using drones for civilian purposes. 

 

COVID-19 Analysis

As with other major industries around the world, COVID has impacted the passenger drones industry in many ways. Some of these ways have not benefited the industry or encouraged rapid growth. Many nations have initiated temporary and indefinite lockdowns and quarantines in the attempt to contain the spread of the COVID virus. This has affected the industry by dampening consumer demand from the public. 

 

Another short-term negative externality has been the delay in the launch of many new and innovative passenger drones. However, the outlook in the post-COVID world is very bright for the passenger drones market. This is largely spurred by increased demand from public response systems and police forces around the world.

 


Market Dynamics


Drivers


Many factors drive amazing growth in this industry. Some of them are the global drive to reduce car and vehicle emissions that can harm the atmosphere and contribute to the ever-growing problem of global warming. People also want to have a way of transporting people in emergencies that is fast, easy, and cost-effective. 


 


Opportunities


Many nations are all too eager to keep their roads safer by having fewer vehicles on the road. They also want to put an end to the never-ending nightmare of long traffic jams and traffic congestion that stretches on for several miles. Finally, governments around the world are concerned about the quality of the air and are ready to find solutions that will reduce overall vehicle emissions into the atmosphere. All these factors are creating new opportunities and markets for passenger drones.


 


Restraints


The passenger drones industry is still experiencing some hiccups that are keeping it from realizing its true growth potential and market share. Some of these restraints are the inability of current passenger drones to remain airborne for long periods, concerns over the safety of passenger droneslack of comprehensive regulation to support the industry at the global level, lack of supporting infrastructure, lack of a comprehensive plan to manage existing air traffic, a shortage of skilled pilots who can fly these drones.


 


Challenges


The passenger drones market must resolve several pressing issues before it can realize its true market and growth potential. For example, the issue of relaxing air rules and regulations for flying planes and drones must be resolved. Another pressing issue is creating a better infrastructure that can support these drones. 


 


Cumulative growth analysis


The passenger drones market is experiencing healthy and strong growth. This is expected to continue even in the wake of the COVID pandemic. But some segments are faring better than others are. For example, the airframe market is expected to witness the highest CAGR of all segments in the industry. This is largely because drones need to be intelligently designed and built to transport people safely and quickly.


 


Technology analysis


Part of the increase in demand for passenger-carrying drones is directly attributed to recent technological advances in the drone industry. The new generation of technology has allowed drone manufacturers to make and launch new products that are safer and innovative in terms of transporting people to different parts of the world quickly. 


 


A good example of this is the concept of passenger drones which are capable of vertical take-off and landing (VTAL). Another good example of technological improvements and integration is in the autonomous quadcopter passenger drone. This was the brainchild of the Chinese company EHang. It has been pilot tested and is verified to carry passengers to different parts of the world safely, quickly, and in a cost-effective manner.


 


Segment overview


By service


The passenger drones market is currently divided into 2 markets based on service: commercial and personal. The commercial market will experience the strongest growth of the two markets in the six years between 2019 and 2025. The personal market will also grow but not as fast. This is largely attributed to a smaller customer base.


 


By technology


New advances in technology have resulted in drones that have a stronger and sturdier airframe that is also more durable. This is key because this makes it easier to transport people safely across large expanses of the world in a short period. The next generation of drones also sports better design, engineering, and configuration.


 


By type


There are many types of passenger drones marketThis is expected to increase as these drones become more acceptable to the public. Some of these types include tourist drones, drones for amusement parks, drones for taking people to the hospital during medical emergencies, and drones that will help the police do a better job of surveying a particular area for criminals and/or wanted people.


 


By vertical


There are two categories of passenger drones marketThese are those that weigh up to 100 kilograms and those that weigh more than 100 kilograms. The former category is used most largely because it is easier and more cost-effective to fly these types of drones. 


 


Regional analysis


CAGR is strongest in the European Union for passenger drones marketThere are many reasons for this. One is the large number of drones that are present in many European nations. 


 


Another major reason for high growth in this region is the large concentration of drone manufacturers. Some of the most noted European drone manufacturers are:


● AeroMobil


● Airbus SAS


● Lilium 


● Volcopter GmBH


 


The North American region is growing at a pace that is slightly slower and lower than that of the European Union for passenger drones market. One of the reasons for this is the sheer demand for drones from the general population.


 


However, it is the presence of strategic companies that are driving fairly strong growth in the North American region. Some of the most noted drone manufacturers are Boeing, Workhorse, and JobyAviation.


 


The Asia-Pacific region is somewhat of a laggard but growth in this region is picking up dramatically. Most of the demand for drones comes from three countries. These are China, Japan, and South Korea.


 


What is driving growth in this region is rapid urbanization. This is combined with the fact that this population has rapidly growing discretionary income and purchasing power. The most important market in this region is China.


 


Competitive landscape


There is a lot of competition in the passenger drone industry. Though there are relatively high barriers to entry, there are many entrenched players that are entering into the drone industry. They are largely driven by the high CAGR and the lucrative market.


 


The main player in passenger drones market is the American giant Joby Aviation. What is helping this company grow is innovation in terms of new drones that it launches on the market. One of these is the six-motor drone. This electric drone flies efficiently, safely, and does not emit emissions when flying. What is better is that it is capable of vertical take-off and landing.


 


List of companies


Some of the major companies in the passenger drones market are:


● Aeromobil - Slovakia


● Airbus SAS - France


● Cartivator - Japan


● EHANG - China


● Joby Aviation - USA


● Lilium - Germany


● Terrafugia - USA


● Boeing - USA


● Uber Technologies inc - USA


● Velocopter Gmbh - Germany


 


Report overview


An increasingly urban population is demanding a quick and easy way of transport that is environmentally friendly. This solution lies in the passenger-carrying droneThe passenger drones market is expected to grow at a healthy pace in the post-COVID world. Many companies are already in the market and they are sustaining themselves with mergers and acquisitions and new product rollouts.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 190.01 Million
  CAGR   32.01%
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2019
  Forecast Units   USD ( Million )
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, By Capacity, By Application, By Rotor
  Geographies Covered   European Union
  Key Vendors   Aeromobil - Slovakia,Airbus SAS - France, Cartivator - Japan,EHANG - China,Joby Aviation - USA,Lilium - Germany,Terrafugia - USA,Boeing - USA,Uber Technologies inc - USA,Velocopter Gmbh - Germany
  Key Market Opportunities   Many nations are all too eager to keep their roads safer by having fewer vehicles on the road
  Key Market Drivers   lobal drive to reduce car and vehicle emissions that can harm the atmosphere and contribute to the ever-growing problem of global warming.


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Frequently Asked Questions (FAQ) :

global market for passenger drones is estimated to expand at a CAGR of 32.01% during the forecast period from 2020 to 2030

The growing urban population, rapid technological development, and reduction in drone costs are some of the predicted factors driving the global passenger drones market.

Europe is expected to dominate the global passenger drones market during the forecast period owing to the presence of established key players.

Volocopter GmbH (Germany), AeroMobil s.r.o. (Slovakia), and Ehang (China) are some of the renowned players in the global passenger drones market.