Passenger Drones Market 2019 Will Rise at CAGR of 27.74% to Cross USD 800 Million Mark by 2024

15 April, 2019

Passenger Drones Market Research Report 2019 published By Market Research Future, provides information on Global Passenger Drones Industry Size, Share, Trends, Growth and Opportunity Assessment with Regional Analysis and Segmentation By Component (Airframe, Controller System, Navigation System, Propulsion System, & Others), Capacity (Up to 100 kg & Over 100 kg), Application (Commercial & Personal), Rotors (10), and by Region - Forecast Till 2024

Market Research Future (MRFR)’s latest study reveals that the global passenger drones market is set to expand at 27.74% CAGR during the forecast period (2018-2024). Passenger drone is an advanced version of Unmanned Aerial Vehicle (UAV) that can carry cargo and passengers. This is an emerging concept that would completely revamp the transportation industry. Passenger drones are also referred to as pilotless helicopters, flying taxis, or drone taxis. Currently, there are a number of investments by companies, such as Airbus, Boeing, and Uber Technologies Inc., on the passenger drone front, which would significantly propel the market.

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Factors such as growing urban population, rising traffic congestion problems, rapid technological advancements, decline in drone costs, and rising participation of companies are driving the market growth. Meanwhile, limited endurance and safety concerns are hindering the market growth to a certain extent and factors such as lack of regulatory framework, supporting infrastructure, cohesive air-traffic management network, and skilled drone operators/pilots are a significant challenge to the market. However, the focus on reducing vehicular pollution will offer promising growth opportunities for the market.

Global Passenger Drones Market – Competitive Dashboard

Some of the key players profiled in the report include:

• AeroMobil (Slovakia)
• Airbus S.A.S. (France)
• Boeing (U.S.)
• Cartivator (Japan)
• EHANG (China)
• Joby Aviation (U.S.)
• Lilium (Germany)
• TERRAFUGIA (U.S.)
• Uber Technologies Inc. (U.S.)
• Volocopter GmbH (Germany)

Global Passenger Drones Market – Segmental Analysis

MRFR’s report offers a detailed segmental analysis of the market based on component, capacity, application, rotors, and region. In terms of component, the airframe market segment accounted for the largest market share in 2017. In terms of capacity, the up to 100 kg market segment accounted for the largest market share of more than 50% in 2017. In terms of application, the commercial market segment accounted for the largest market share of in 2017, with a market value of more than USD 100 million. In terms of rotors, the more than 10 rotors market segment accounted for the largest market share in 2017 and is projected to witness a CAGR of more than 30%, during the forecast period.

Regional Outlook

On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). Europe currently accounts for the largest market share, and the trend is likely to continue in the foreseeable future. Countries such as Germany and U.K will contribute to a larger extent in the passenger drone market in the upcoming years. The presence of companies such as Airbus S.A.S, Lilium, and Volocopter GmbH is expected to boost the European market over the next decade. The key drivers for the European market are increasing joint ventures & partnerships along with rapid technological advancements.

North America is a key region in the passenger drones market. The sheer existence of the key companies, such as Boeing, Workhorse, and Joby Aviation, combined with the availability of sophisticated technologies to deliver innovative solutions enables this region to be a promising market. Moreover, it is expected that other countries such as Canada and Mexico would embrace this concept in the near future and would aid in this region to gain a higher share in the global market.

Intended Audience

• Passenger drone manufacturers
• Other UAV manufacturers
• Potential investors
• Raw material suppliers
• GNC solution providers
• Associattions
• Government
• End-Users

For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for passenger drones

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Research Methodology

MRFR applied an innovative and fail-safe research methodology to compile this market research report. Statistical conclusions drawn in the report are the result of an exhaustive investigation and analysis of the key market elements. A multi-level data collection procedure, which includes both primary and secondary research inputs ensures the delivery of an impactful intelligence. To support the statistical findings and projections, full-scale industry extensive primary research was conducted to gain a deeper insight of the market and industry performance. Primary research includes surveys and interviews with the key personnel from the manufacturers/supplier (VPs, CEOs, Marketing Directors, Business Development Managers and others) in the market. Additionally, the primary data collected from manufacturers is verified with the primary research information collected from distributors, wholesalers, and end users. Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the passenger drones market.

The market size estimation was done using both top-down and bottom-up approach to estimate market values and volumes for respective segments and countries. Other than this, the market sizes were also calculated based on market share analysis of the most competitve players in the market. Revenue and demand forecasting was done thrugh historical analogy, weighted moving average, time series analysis, panel consensus, and exponential smoothening mtehods. MRFR is committed to provide market data that is highly relevant and factually correct, and helping stakeholders to develop cohesive growth strategies.

Table of Contents

1 Executive Summary

2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

Continued......

List of Tables

Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Passenger Drones Market, by Component, 2017 – 2024 (Usd Million)
Table 4 Global Passenger Drones Market, by Capacity, 2017 – 2024 (Usd Million)
Table 5 Global Passenger Drones Market, by Application, 2017 – 2024 (Usd Million)
Table 6 Global Passenger Drones Market, by Rotor, 2017 – 2024 (Usd Million)
Table 7 Global Passenger Drones Market, by Region, 2017-2024 (Usd Million)
Table 8 North America: Passenger Drones Market, by Country, 2017-2024 (Usd Million)

Continued........

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Saurabh Sinha


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