The American investment company, Morgan Stanley, recently predicted that the global air taxi market will increase by 30% annually between 2021 and 2040 and potentially hit $1.5 trillion by 2040, reports urbanairmobilitynews.com.
The air taxi industry has experienced a significant rise in recent years. Volocopter aims to launch its air taxi service by 2024, while Embraer and Skyportz aim to begin their air taxi operations by 2026.
Besides, several countries began to develop their urban air mobility (UAM) initiatives, including South Korea, France, Japan, US and Australia.
The wide implementation of air taxi services would enable faster and more environmentally friendly public transportation.