Passenger Drones Market Growth | Size, Value Share, Emerging Trend, Key Players Strategy and Forecast to 2025

Passenger Drones Market Global Information by Component (Airframe, Controller System, Navigation System, Propulsion System and others), Capacity (Up to 100 kg and Over 100 kg), by Application (Commercial and Personal), Rotor

Market Overview

Global Passenger Drones Market is likely to grow at a whopping 27.74% CAGR between 2019- 2025, according to the new report by Market Research Future (MRFR). Passenger drones, simply put, are unmanned aerial vehicles (UAV) that carries passengers. They are also known as drone taxis, flying taxis, or pilotless helicopters and have both personal & commercial applications.

Various factors are adding to the passenger drones market growth. As per the new MRFR report, such factors include a growing urban population, rising traffic congestion, the decline in drone price, rapid technological advancements, increasing participation of companies, and focus on reducing vehicular pollution.

On the contrary, limited safety concerns and endurance coupled with a lack of regulatory framework & supporting infrastructure may limit the passenger drones market growth over the forecast period.

COVID-19 Analysis/COVID-19 Impact on Passenger Drones Market

The COVID-19 pandemic has already cast its shadow on different industries, but fortunately, the passenger drones market is not that big a victim. Technologies such as location technology, GIS and mapping, big data, and autonomous machines are playing a vital role in responding to this outbreak. Drones are helping people and authorities in multiple ways to prevent further spread of the COVID-19 pandemic such as surveillance, broadcast information, and messages, disinfect public places, deliver grocery and medicine, temperature measurement, temporary hospital construction, and others.

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Key Players

Leading players profiled in the Global Passenger Drones Market Report include Volocopter GmbH (Germany), Uber Technologies Inc. (US), The Boeing Company (US), TERRAFUGIA (US), Lilium (Germany), Joby Aviation (US), EHANG (China), Cartivator (Japan), Airbus SAS (France), and AeroMobil (Slovakia). Industry players have encompassed strategies such as acquisitions, mergers, partnerships, new product launches, and others to create a niche in the market.

Market Segmentation

The MRFR report offers an inclusive segmental analysis of the global passenger drones market report based on rotor, application, capacity, and component.

By component, the global passenger drones market is segmented into the propulsion system, navigation system, controller system, airframe, and others. Of these, the airframe segment will lead the market over the forecast period.

By capacity, the global passenger drones market is segmented into over 100 kg and up to 100 kg. Of these, the up to 100 kg segment will dominate the market over the forecast period.

By application, the global passenger drones market is segmented into personal and commercial. Of these, the commercial segment will have a major share in the market over the forecast period.

By rotors, the global passenger drones market is segmented into 20 above, 10-20, and 10.

Regional Analysis

Based on the region, the Global Passenger Drones Market Report covers the recent trends and growth opportunities across the Americas, the Asia Pacific (APAC), Latin America, Europe, and the Middle East and Africa (MEA). Of these, Europe will spearhead the market over the forecast period. Rapid technological advances, increasing partnerships and joint ventures, and the presence of leading passenger drone companies are propelling the growth of the passenger drones market in the region.

The global passenger drones market in North America is predicted to hold the second-largest share over the forecast period. The availability of sophisticated technologies to offer innovative solutions and the sheer existence of top companies are fuelling the growth of the passenger drones market in the region.

The global passenger drones market in the APAC region is predicted to grow at a fast pace over the forecast period. Focus on drones for transportation, increasing disposable income, and rising urban population are adding to the growth of the market in the region. South Korea, Japan, as well as China are the leading contributors in the region.

Global Passenger Drones Market in Latin America and the MEA is predicted to have healthy growth over the forecast period.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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Release ID: 88965896