Automotive OEMs, start-ups, aerospace companies and other players are expected to make significant investments in the flying cars market and showcase their prototypes in the next 10 years, according to Frost & Sullivan.
Flying cars are poised to usher in a whole host of new business services by 2035, including aerial sightseeing services, air surveillance as a service, aerial critical aid delivery, air taxi pay-per-ride, and flying car corporate lease.
The key to achieving mass commercialization of flying cars and attracting more buyers will depend on increased safety features, optimal regulations, and affordable prices.
The majority of companies actively involved in building a future flying car are based in the United States, however, there are participants from a whole host of countries including the UK, France, Germany, Russia, Slovakia, Israel, Russia and Japan.
Among the companies expected to launch flying vehicles by 2022 are PAL-V, Terrafugia, Aeromobil, Ehang, E-Volo, Urban Aeronautics, Kitty Hawk and Lilium Aviation, and have completed at least one test flight of their flying car prototypes.
PAL-V has gone a step further and initiated the pre-sales of its Liberty Pioneer model flying car, which the company aims to deliver by the end 2018.
“It will be interesting to see the first applications of flying vehicles. Although the ultimate goal of manufacturers is to address the issue of personal mobility, commercial applications are expected to commence through recreational activities in the form of what could be termed as a single seater flying scooter,” observes Sarwant Singh, Senior Partner Frost & Sullivan. “From flying vehicle rides in amusement parks, aerial sightseeing of landmarks, to a star attraction at events, the recreational potential of flying vehicles is limitless”.