Global Passenger Drones Market
The increasing problem of road congestion is likely to lead to a growing demand for passenger drones in the coming years. Leading transportation providers such as Uber have made investments in the development of passenger drones, leading to growing prospects for commercialization of the products in the global market. The need to develop viable aviation guidelines before implementing large-scale passenger drone programs could hinder the market’s progress over the forecast period.
Passenger drones are, as the name suggests, autonomous flying vehicles that can transport passengers. The area of drones has become a promising industrial field rich with opportunities over the last few years, due to the growing development of drone technology and its growing application in various end-use sectors. While drones are currently mainly used for delivery purposes in the commercial sector, the use of drones for personal transportation is far from a novel idea, and in fact can be said to have been the ultimate goal of the drones industry from the start. The area of drone-based passenger transportation is littered with problems, but many companies in the global market are developing innovative solutions to overcome them. Here’s a look at some of the major factors at play in the global passenger drones market.
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Rising Traffic Congestion Problems in Urban Areas to Drive Demand for Passenger Drones
The growing acknowledgment of the problem of traffic congestion across the world’s urban areas has been the major driver for the global passenger drones market over the last few years. With rising vehicle ownership and the rising urban population, vehicular congestion issues have become a major concern in cities in developed and developing countries alike. Highly advanced cities with a traffic congestion problem have, naturally, shown the most interest in the development of passenger drones, with cities such as Los Angeles, Dubai, and Dallas-Fort Worth leading the way when it makes to building a supportive infrastructural and regulatory environment for the use of passenger drones.
The growing urban population in developing regions such as Asia Pacific is likely to be a major driver for the global passenger drones market over the forecast period. Cities such as Mumbai, New Delhi, Shanghai, Beijing, Manila, and Kuala Lumpur are already beset with significant traffic congestion problems, with the rising population of these major economic centers leading to consistent run-ins with traffic issues. The rising disposable income of consumers in these countries has already led to steady growth of the e-hailing and ride-sharing markets in these regions, and premium alternatives such as passenger drones are likely to receive strong support when the technology becomes available. This is likely to be a major driver for the passenger drones market over the forecast period, as governments in the region are likely to focus on developing strong urban infrastructure in the coming years.
Increasing Demand for Electric Passenger Drones to Drive Passenger Drones Market
The global passenger drones market has mainly been driven by the ability of drones to fly without using fossil fuels. The shorter distances flown by urban passenger drone services, as well as the ample availability of recharge time in fleets, make electric propulsion a viable and lucrative option for drone manufacturers. The growing government support to the use of electric propulsion technology in all kinds of vehicles is likely to remain a major driver for the Passenger Drones Market over the forecast period. The rising awareness about the adverse effects of fossil fuels is likely to drive further development in the field of electric propulsion over the forecast period.
Lack of Regulatory Frameworks a Major Issue to Overcome
One of the key restraints acting on the passenger drones market at present is the absence of civil aviation guidelines and regulations governing urban air travel. Since the very concept of air travel within cities is a novel concept, no regulatory provisions have been made for the use of passenger drones. This has made development of passenger drones and their deployment difficult, as the jumble of regulatory positions can lead to confusion during operation of fleets of passenger drones.
In June 2019, the EU Aviation Safety Agency (EASA) produced the first common set of rules for the use of drones in a commercial setting in civilian environments. Once adopted into practice in June 2020, the common set of guidelines will allow smooth movement of drones within the European Union without being hampered by border regulations and other rules. Such initiatives are likely to be replicated in North America and Asia Pacific in the coming years, where the development of passenger drones is taking place at a high pace.
Key Players
The key players in the global passenger drones market are AeroMobil (Slovakia), Airbus SAS (France), Cartivator (Japan), EHANG (China), Joby Aviation (US), Lilium (Germany), TERRAFUGIA (US), The Boeing Company (US), Uber Technologies Inc. (US), and Volocopter GmbH (Germany).
Research Methodology
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
Secondary Research
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
Primary Research
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Key Insights
- Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
- Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America, along with key countries in each region
- Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
- Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
- Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
- Regional attractiveness and related growth opportunities
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Table of Contents
1 Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Passenger Drones Market, by Component
1.1.2. Global Passenger Drones Market, by Capacity
1.1.3. Global Passenger Drones Market, by Application
1.1.4. Global Passenger Drones Market, by Rotor
1.1.5. Global Passenger Drones Market, by Region
2 Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3 Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
Continued…….
List of Tables
Table 1 List of Assumptions
Table 2 Major Patents Granted for Passenger Drones (15 May 2010–15 May 2019)
Table 3 Component: Global Passenger Drones Market, 2018–2025 (Usd Million)
Table 4 Capacity: Global Passenger Drones Market, 2018–2025 (Usd Million)
Table 5 Application: Global Passenger Drones Market, 2018–2025 (Usd Million)
Table 6 Rotor: Global Passenger Drones Market, 2018–2025 (Usd Million)
Table 7 Global Passenger Drones Market, by Region, 2018–2025 (Usd Million)
Continued……
List of Figures
Figure 1 Market Synopsis
Figure 2 Global Passenger Drones Market: Market Attractiveness Analysis
Figure 3 Global Passenger Drones Market Analysis, by Component
Figure 4 Global Passenger Drones Market Analysis, by Capacity
Figure 5 Global Passenger Drones Market Analysis, by Application
Figure 5 Global Passenger Drones Market Analysis, by Rotor
Figure 6 Global Passenger Drones Market Analysis, by Region
Figure 7 Global Passenger Drones Market: Market Structure
Continued……
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