The Flying Taxi Market will function as a trillion-dollar business in the near future. Several science fiction films have featured flying cars. It is every kid’s dream to fly in one.
What if I say flying cars are not just fiction anymore? When aircraft was first discovered, it was just an invention.
It gained a reputation only when someone came up and turned into a commercial mode of transport. To be honest, prototypes of flying cars turned out to be successful a long time ago. But companies are making efforts to commercialize these flying cars now.
Big names like Toyota, Hyundai, Uber, Airbus and Boeing have joined hands to make this dream a reality. We are progressing one step closer to our dream every day. But does the Flying Taxi Market really stand a chance? Let’s find out
Market Availability
A recent study says that the aircraft market in major urban areas would cross 1.5 trillion dollars within 2040.
We can expect to see Air Taxis flying high in the sky as early as 2022. Its growth will multiply over the years.
Within 2040, about 4,30,000 will operate around the world. Over the years, batteries with huge storage capacity and autonomous vehicles have grown efficient.
The Flying Taxi Market will have its foundation built upon them. We must thank technology for that.
This Idea already has numerous investors from all around the world. They are very clear about the market and the profits which it can yield.
Once the Air Taxis start to fly, its cost of operation and maintenance are going to be less.
Commencement of Production
Companies like Toyota have started pouring millions of dollars in this vision. It has invested more than 400 million dollars in an aviation company called Joby Aviation.
They are hoping to start their service by the end of 2023. If this project is successful, it can save several hours of travel time.
The project focuses on helping a billion people each day. The Technology available at Joby’s is cutting edge. The aircraft which the company is developing can carry four passengers excluding a pilot.
This craft can travel for distances up to 150 miles (241.4 km) without the need for a recharge.
This has all the potential to skyrocket the Flying Taxi Market. Uber and Hyundai, on the other hand, are working hard to develop what is called a “Personal Air Vehicle”.
This aircraft has the potential to reach altitudes of up to 2000 feet. Similar to Toyota, it can also carry up to 4 passengers.
The company has made a short statement that these crafts can charge themselves within minutes. They did not explain how exactly it would work though!
The Future
What do you think is the shortest distance between two points? A straight line. This is exactly how Air Taxis would help in reducing travel time.
The Flying Taxi Market is going to see tremendous growth in the years to come. Since these aircraft operate in the sky, the ground traffic will begin to reduce slowly.
These aircraft would have AI installed in them. It would regulate and assist throughout the process of takeoff, travel and landing.
To Conclude
The aircraft would not make loud noises. This is because rotors will replace jet engines. They also do not need a runway as they can take off vertically.
Even when Flying Taxi Market is a successful mode of transport, it has several associated risks.
With the recent death the famous basketball player, Kobe, the security concerns have increased greatly.
Implementing AI to power these crafts might make them vulnerable to hacking. But scientists and research personnel are working day and night to solve them. Hopefully, we can see Flying Taxis soon.
