In August 2019, Volocopter announced the launch of its first flying taxi. It is a fourth-generation aircraft which have Electric Take-Off and Landing (eVTOL) technology and can fly at an average speed of 65 mph. Volocopter air taxi also provides an on-demand, inter-city transport vehicle for up to two passengers and their luggage. Air taxis will come in action in full force by 2025 in the world. The company is spending around €200 million and €250 million for the startup.
The Air Taxi Market will grow to USD 10.9 billion by 2030 at a CAGR of 11.81% between in the forecast period between 2019 – 2030.
The factor which restrains the growth of the air taxi market is the complexity associated with bearing certification for operations. Many regulatory authorities, such as the Federal Aviation Administration (US) and the European Aviation Safety Agency (Germany), have set some specific norms for civil aeronautics for manufacturers of air taxi aircraft which, they need to keep in mind while designing and developing aircraft.
The restraints of the markets are challenged by the lack of social acceptance of air taxis because of the safety concerns, and the noise made by the aircraft while flying.
Startups like Volocopter, is a reliable way of transportation of the future. Companies like Daimler, Geely, and Intel, which still have large businesses are investing and working with Volocopter to give make it a key role (or a key company) of the market in the future.
Many cities in the world are facing traffic problems, to avoid those, one can use air taxis in the future to save their time, as time is the most precious thing in the once life. It will also provide quick mobility in the urban area in the upcoming years. Air taxis have a promising future where people can travel very easily in less time.