Air Taxi Market Overview, Demand, Future Projections and Opportunities 2023-2028

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Air taxi refers to an energy-saving, lightweight aircraft designed to travel shorter distances. It operates on a scheduled or non-scheduled basis and covers short routes which are not usually served by other commercial airlines.

According to IMARC Group latest report titled “Air Taxi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on air taxi market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global air taxi market size reached US$ 972.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,721.1 Million by 2028, exhibiting a growth rate (CAGR) of 19.3% during 2023-2028.

What are air taxi?

Air taxi represents lightweight, energy-saving, and robust commercial airplanes designed to travel shorter distances and is restricted to a maximum passenger capacity and payload. In terms of the propulsion type, they are available in parallel, hybrid, electric, turboshaft, turboelectric, and others. These air taxi models are compact in size and have innovative operational capabilities that aid in landing and taking off from shorter runways. They assist in covering distances between localities which are not served by scheduled airlines and are operated via smaller local airports with no or less air traffic. As a result, air taxi categories are gaining immense traction across the globe.

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What are the growth prospects and trends in the air taxi industry?

The shifting preferences toward efficient transportation systems across the globe and the increasing number of vehicles operating on the road are primarily driving the air taxi market. In addition to this, the expanding aviation and transportation industry, especially in developing countries, and the rising investments by key manufacturers in research and development (RD) activities to introduce several technological advancements are also positively influencing the global market. Furthermore, the emerging trend of integrated and connected multimodal transportation networks that enable consumers to access on-demand goods delivery, air mobility, and emergency services is acting as another significant growth-inducing factor. Besides this, the launch of numerous initiatives by government bodies to promote air taxi services in urban areas and develop smart city projects is further augmenting the market growth. Moreover, the introduction of electric product variants capable of taking off and landing vertically is projected to catalyze the air taxi market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Ab Corporate Aviation
  • Airbus SE
  • Fly Aeolus
  • Honeywell International Inc.
  • Hyundai Motor Company
  • Joby Aviation
  • Kitty Hawk Corporation
  • Neva Aerospace Ltd.
  • Nurol Holding
  • Skyway Air Taxi
  • Talkeetna Air Taxi Inc
  • Volocopter GmbH

Air Taxi Market Segmentation:

Our report has categorized the market based on region, propulsion type, aircraft type and passenger capacity.

Breakup by Propulsion Type:

  • Parallel Hybrid
  • Electric
  • Turboshaft
  • Turboelectric

 Breakup by Aircraft Type:

  • Multicopter
  • Quadcopter
  • Others

 Breakup by Passenger Capacity:

  • One
  • Two
  • Four
  • More than six

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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