Flying Cars Global Market To Grow At A Rate Of Almost 60% Through 2025
5 Oct, 2021
The flying cars market consists of sales of flying cars by entities (organizations, sole traders, and partnerships) that is a type of vehicle that can function as both a personal road vehicle and an aircraft. Flying cars also known as hover cars, usually use rotors instead of wings and are smaller than a commercial aircraft, and have lower emissions.
Global Flying Cars Market Size And Drivers:
The global flying cars market is expected to grow from $34.41 million in 2020 to $52.20 million in 2021 at a compound annual growth rate (CAGR) of 51.7%. The growth in the flying cars market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The flying cars market is expected to reach $330.94 million in 2025 at a CAGR of 58.7%. The increase in demand for environmentally friendly transportation will propel the growth of the flying cars market during the forecast period.
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Trends In The Global Flying Cars Market
The rapid adoption of advanced technology is shaping the flying cars market. Major companies operating in the flying cars sector are focused on adopting advanced technology such as the fast-developing distributed electric propulsion (DEP) technology which plays a role in efficiency, helps with quieter take-offs, and hovering. For instance, in August 2019, Airspace Experience Technologies (ASX), an American company developed the MOBiOne electric vertical take-off and landing vehicle that uses a distributed electric propulsion system (DEP) and integrates a hybrid propulsion system that allows the vehicle to fly without recharging.
Global Flying Cars Market Segments:
The global flying cars market is further segmented –
By Product: Manned Flying Cars, Unmanned Flying Cars
By Capacity: 2-Person Sitter, 3 And 4-Person Sitter, 5-Person Sitter
By Application: Military, Commercial Or Civil
By Geography: The global flying car market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American flying cars market accounts for the largest share in the global flying cars market.
Read More On The Report For The Global Flying Cars Market At:
https://www.thebusinessresearchcompany.com/report/flying-cars-global-market-reportFlying Cars Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides flying cars market overviews, analyzes and forecasts market size and growth for the global flying cars market, flying cars market share, flying cars market players, flying cars market segments and geographies, flying cars market’s leading competitors’ revenues, profiles and market shares. The flying cars market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.