The increasing congestion and overcrowding in cities has contributed to be a driving factor for the Global Flying cars market. However, the growth in the economy has led to an increase in high net worth individuals which in turn is encouraging the adoption of private air travel like flying cars. Often, these individuals are the target audience for the Flying cars market. A flying car is a plane that has been modified for road use is more likely to be called a ‘roadable aircraft’. Transportation facilities and systems have been seen negligible to concurrent growth and development to suffice the needs of urban mobility.
AMA Research have segmented the market of Global Flying Cars Market market by Type, Application and Region. On the basis of Type, Flying cars are dominating the market in the year 2020
On the basis of geography, the market of Flying Cars Market has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Israel, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). United States region held largest market share in the year 2020.
Increase usage of private air travel., Rapid urban development and increase in urban population. Advancement in technology, Growing demand for ultralight electric aircraft. and The inclusion of the Internet of Things (IoT) and blockchain to make flying cars safer.
Increase in congestion and overcrowding in cities., Increase adoption of private air travel. and Increase in urban population leading to increase in personal transit and freight movement.
Increasing adoption of private air travel and Growing demand for ultra light electric aircraft
- Transportation facilities system have been negligible on the concurrent growth and development to be sufficient enough to meet the needs of urban mobility.
In addition to the aforementioned factor, Increase in congestion and overcrowding in cities.
is expected to propel the growth of the market over the forecast period.
The market is fragmented with Flying car manufacturers who are devoting themselves in R and D of vital technologies VTOL (Vertical take-off and landing) or collaborate with technology, automotive, and aerospace manufacturers to boost their capabilities in a highly competitive ecosystem.
The key Vendors profiled in the study are PAL-V (Netherlands), AeroMobil (Slovakia), TERRAFUGIA (United States), Lilium (Germany), EHANG (China), E-Volvo (Sweden), Tactical robotics (Israel), Carplane (Germany), Joby Aviation (United States), Malloy Aeronautics (United Kingdom), Hoversurf (United States) and Kitty Hawk (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.