Passenger Drones Market Size was valued at USD 0.52 Billion in 2023. The passenger drones market industry is projected to grow from USD 0.686452 Billion in 2024 to USD 4.869 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 27.74% during the forecast period (2024 - 2032). The drop in drone prices and technological improvement is primarily driving the passenger drone market. The demand for cheaper, faster, and cleaner transportation as well as the expanding urban population, have spurred the rise of the passenger drone market. During the projection period, it is anticipated that market driver such as the expanding urban population and their desire to avoid traffic congestion would offer growth possibilities to the passenger drone market.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Urban congestion and traffic problems are driving the market growth
Significant market drivers for the passenger drone are urban congestion and traffic problems. The stress on the current transport infrastructure worsens as cities worldwide continue to suffer fast population expansion and urbanization. Increased travel times, decreased productivity, environmental degradation, and increased commuter stress are just a few of the detrimental effects of this congestion. Since passenger drones fly in three dimensions, they may avoid terrestrial traffic and go more directly. Passenger drones, which may move straight from point A to point B, can drastically shorten commuting times, especially in densely populated urban areas. Commuters looking for quicker mobility options will appreciate this increased efficiency. Additionally, passenger drones can give direct links to urban centers, transit hubs, or particular destinations, eliminating the need for multiple transfers and improving accessibility for public transportation, which can be a useful solution for last-mile connectivity. By carrying passengers by air, these drones will reduce road congestion. Therefore, over the projection period, rising traffic congestion increases demand for the passenger drone service, ultimately leading to the market.
The need for an alternate form of transportation has increased globally with the advent of new technology in the transportation sector, such as the automation of vehicles and trains. As a result, businesses involved in the aviation industry are concentrating on bringing passenger drones to every continent. For the same reason, numerous partnerships have been formed between diverse businesses to generate fresh ideas for the growth of passenger drones. The advancements are made in response to the demand for alternative modes of transportation, which ultimately fuels market CAGR expansion throughout the forecasted period.
Numerous governments worldwide have started introducing the idea of passenger drone in their area by allowing the leading players to create and innovate passenger drones for their locations, which feeds the market trends. They have established a number of plants throughout the world for innovation, which is anticipated to grow the passenger drone market size globally. For instance, Uber Technologies has chosen five nations to implement their passenger drone service during the debut phase. Thus, it is anticipated that several government efforts will fuel passenger drones market revenue throughout the projection period.
Passenger Drones Capacity Insights
The passenger drones market segmentation, based on capacity includes Up to 100 kg and Over 100 kg. The 100 kg segment dominated the market. In the passenger drone industry, drones having a maximum takeoff weight (MTOW) of up to 100 kilograms fall under the "up to 100 kg" segment. The total weight of the aircraft, passengers, payload, fuel, and batteries is included in this figure. Depending on their design and arrangement, passenger drones that fall under this weight category can accommodate one or two passengers. They are primarily designed for short-distance urban transportation or point-to-point travel within cities and are often smaller and more maneuverable than bigger commercial aircraft.
Passenger Drones Application Insights
The passenger drones market segmentation, based on application, includes Commercial and Personal. The commercial category generated the most income. Within the larger passenger drone sector, commercial passenger drone services are a major emphasis since they have the potential to revolutionize urban transportation. Commercial ride-hailing services run similarly to conventional ones, except with the addition of passenger drones. A passenger drone will take users who have booked a ride through a smartphone app to their selected location inside the service's operational area.
Figure 1: Passenger Drones Market, by Application, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Passenger Drones Rotor Insights
The passenger drones market segmentation, based on rotor, includes Less Than 10 and More Than 10. The more than 10 category generated the most income. Passenger drones with more than ten rotors fall under the "More Than 10" category in the passenger drone market's rotor sector. Some of the designs in this category are being investigated for particular applications that call for special characteristics, while being less frequent than configurations with fewer rotors. Compared to designs with fewer rotors, these drones provide greater redundancy, stability, and lifting capability.
Passenger Drones Component Insights
The passenger drones market segmentation, based on component, includes Airframe, Controller System, Navigation System, Propulsion System and Others. The controller system category generated the most income. The hardware and software elements guiding and controlling the drone during flight are called controller systems in the passenger drone market. Whether operated by a human pilot or an autonomous navigation system, the controller system is an essential component of passenger drones since it permits safe and accurate flight operations.
Passenger Drones Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific passenger drones market area will dominate this market because of the existence of important corporations, technological improvements, and growing demand for effective travel. Increased demand for speedier modes of transport is being caused by the region's expanding population and increasing traffic congestion, which is anticipated to increase market income. Growing efforts by federal organizations in the R&D of passenger drones are also a factor fueling market expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PASSENGER DRONES MARKET SHARE BY REGION 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe passenger drones market accounts for the second-largest market share due to significant economic growth, rising demand for passenger drones, escalating urbanization, and expanding population. The market in this region is being driven by a number of corporations and governmental organizations implementing newer technology, such as electric and autonomous passenger drone facilities. Further, the German passenger drones market held the largest market share, and the UK passenger drones market was the fastest growing market in the European region
North America Passenger drones Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the presence of top passenger drone providers in both Canada and the United States. The market for passenger drones in North America is anticipated to expand over the course of the forecast period as a result of the region's rapidly growing connected infrastructure and increased investment in the creation of cutting-edge drones. Moreover, US passenger drones market held the largest market share, and the Canada passenger drones market was the fastest growing market in the region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the passenger drones market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, passenger drones industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the passenger drones industry to benefit clients and increase the market sector. In recent years, the passenger drones industry has offered some of the most significant advantages to market. Major players in the passenger drones market attempting to increase market demand by investing in research and development operations include Aeromobil - Slovakia, Airbus SAS - France, Cartivator - Japan, EHANG - China, Joby Aviation - USA, Lilium - Germany, Terrafugia - USA, Boeing - USA, Uber Technologies inc - USA, and Velocopter Gmbh – Germany.
The Boeing Co. (Boeing) creates, develops, and produces military and commercial aircraft and technologies for space, defense, and security. For commercial use, the corporation offers different aircraft models, including business jets, and for military use, trainer aircraft, rotorcraft, tilt-rotor aircraft, tanker aircraft, anti-submarine aircraft, and other assault aircraft and helicopters. It also develops, produces, launches vehicles, integrates, and designs satellites and defense systems. The organization additionally offers information-based services, maintenance, training, revisions, data analytics, and support for logistics. It provides services to both commercial and governmental clients everywhere.
The company Uber Technologies Inc. (Uber) offers ride-hailing services. It provides services through its technological platforms, including websites and mobile applications. Uber connects users with independent ride service providers or drivers. At airports on all continents, the firm provides pick-up and drop-off services. The business offers food, meal, and grocery delivery services via its technological platform. The business offers logistics and freight services. Additionally, it connects customers with public transit networks and offers corporate clients services for everyday commutes.
For Instance, September 2021 Guangzhou Ehang Intelligent Technology Co., Ltd. introduced a low-altitude electric passenger drone to deliver security solutions for autonomous pilots and implement AI control and command centers. The business will offer short- and medium-distance travel options through this launch as a form of future transportation.
Passenger Drones Capacity Outlook (USD Billion, 2018-2032)
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.52 Billion |
| Market Size 2024 | USD 0.686452 Billion |
| Market Size 2032 | USD 4.869 Billion |
| Compound Annual Growth Rate (CAGR) | 27.74% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Capacity, Application, Rotor, Component, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Aeromobil - Slovakia, Airbus SAS - France, Cartivator - Japan, EHANG - China, Joby Aviation - USA, Lilium - Germany, Terrafugia - USA, Boeing - USA, Uber Technologies inc - USA, and Velocopter Gmbh – Germany |
| Key Market Opportunities | Increased number of government efforts |
| Key Market Dynamics | Urban congestion and traffic problemsNeed for an alternate form of transportation |
Passenger Drones Market Highlights:
Frequently Asked Questions (FAQ) :
The passenger drones market size was valued at USD 0.52 Billion in 2023.
The market is projected to grow at a CAGR of 27.74% during the forecast period, 2024-2032.
Asia-Pacific had the largest share in the market.
The key players in the market are Aeromobil - Slovakia, Airbus SAS - France, Cartivator - Japan, EHANG - China, Joby Aviation - USA, Lilium - Germany, Terrafugia - USA, Boeing - USA, Uber Technologies inc - USA, and Velocopter Gmbh – Germany.
The commercial category dominated the market in 2023.
The more than 10 category had the largest share in the market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
