This Segment of the Drone Industry is Predicted to Reach $1,419.5 Million by 2026

‘”Passenger Drones Market Share, Size, Trends, & Industry Analysis Report, By Component (Hardware, Software, Services); By Capacity (Less than 100 kg, More than 100 kg); By End-User (Personal, Commercial); By Region: Segment Forecast, 2019 – 2026“ says that passenger drones have value beyond just urban air mobility, the idea of adding air travel options to public transportation infrastructure.

“Passenger Drones are move people for short to medium distances,” says a Polaris Market Research press release. “Being capable of vertical takeoff and landing (VLOT), these can replace driving on roads in cities. Passenger Drones will solve the problem of transport during peak travel time and overcoming obstacles like bridges or lakes. Not just daily commute, passenger drones can be of great significance in adversities and be used for rescue, search operations, emergency supply delivery or air ambulance.”

High Demand

As Europe’s cities suffer increasingly from road traffic congestion and pollution, the demand for alternatives is high. “The growing need for cheaper, faster and cleaner transport is increasing the demand for transport alternatives,” says the release. “The increasing demand for intelligent technologies that reduce emissions and offer higher energy efficiency play a key role in the passenger drone market growth.”  Europe generated the highest revenue in the segment in 2017: increasing investment and innovation is supporting the market growth.

The investment appetite for passenger drones is strong.  Hardware costs are dropping, and regulations appear to be getting more favorable.  Demonstrations in Spain have recently been announced by industry pioneer eHang; a working passenger drone service has been in place since 2017 in Dubai.   As these demonstrations prove the safety case, passenger drones get closer to reality in cities around the globe.

Major Players

Polaris Market Research lists the best known players in the passenger drone market:  Ehang, Volocopter GmbH, AeroMobil, Joby Aviation, Uber Technologies Inc., Boeing, Airbus S.A.S., Astro Aerospace, Cartivator, Lilium, and Terrafugia, among others. “These companies are consistently launching new products to enhance their offerings in the passenger drones industry,” says the release. “With the advancement of technologies, companies are innovating and introducing new solutions to cater to the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their offerings to improve their market reach.”