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Saudi Arabia Flying Car Market

Saudi Arabia Flying Car Market

Saudi Arabia Flying Car Market, By Component (Hardware, Software); By Mode of Operation (Piloted, Autonomous); By End Use (Commercial and Professional Commute, Personal Commute); By Seating Capacity (One, Two, Four, More than Six), Trend Analysis, Competitive Landscape & Forecast, 2022–2028

  • Published Date: November 2022
  • Report ID: BWC22503
  • Available Format: PDF
  • Page: 107

Report Overview

Rapid urbanization, heavy traffic congestions on the urban roads, high focus on developing and purchasing eco-friendly automobiles, and increasing disposable income among the people of the country are projected to propel the expansion of Saudi Arabia Flying Car Market size at a significantly high growth rate during the forecast period between 2022 and 2028.

Saudi Arabia Flying Car Market - Industry Trends & Forecast Report, 2028

Saudi Arabia Flying Car Market size is expected to expand at a high CAGR of 38.9% during the forecast period between 2022 and 2028. Saudi Arabia flying car market is being driven by rapid urbanization and industrialization, increasing vehicle safety awareness, growing preference for eco-friendly automobiles, and an increase in people’s disposable income. Emergence of new era urban mobility alternatives in transportation coupled with increasing adoption of digitalization and automation in the aviation sector are also expected to boost the market growth. Due to rapid urbanization across countries, including Saudi Arabia, is increasing the requirement for alternative transportation mode in response to rising air pollution and heavy traffic congestions on urban roads. All these factors are compelling key players to emphasize on developing air mobility solutions and improving the transportation medium. This, in turn, is expected to boost the high growth of Saudi Arabia flying car market during the period in analysis.

Saudi Arabia Flying Car Market

Growth Drivers

Changing outlook toward urban mobility

Urban mobility has transitioned toward digital, high-end technologies, as well as green mobility initiatives, to build a more sustainable and adaptable transport network. Rapid urbanization necessitates the development of alternative transportation solutions to address contemporary urban transportation issues, such as traffic jams and increased air pollution. This has prompted companies in the mobility sector to concentrate on developing electric or hybrid-powered transportation mediums that can be employed on the road along with an air mobility solution. As the number of automobiles on the road has boomed, so has the problem of traffic congestions. Heavy congestions in traffic have a negative effect on the environment by doubling the carbon footprint. Flying cars, which are being manufactured on a personal and commercial level worldwide, are now functional within cities. As a result of increased road traffic congestions and a greater need for alternative transportation solutions around the world, the demand for flying cars is expected to increase. It, in turn, is projected to drive Saudi Arabia flying car market at a significantly high CAGR during the period in analysis.

Restraints

Stringent regulations for aviation license

For attaining the aviation license, one must follow specific regulations to ensure the passenger safety on a flying car. The advent of flying cars around the globe is expected to increase the demand for experienced and well-trained flying car drivers, affecting flying car demand in the initial phases. The lack of qualified flying car operators may jeopardize the safety of passengers and the flying car itself, which neither the flying car owner nor the government can bear. As a result, the stringent aviation license regulations are anticipated to limit the expansion of the flying cars market in Saudi Arabia during the forecast period.

Impact of COVID – 19 on Saudi Arabia Flying Car Market

COVID-19 pandemic had a detrimental effect on the flying car market due to global economic fluctuations that resulted in changing customer preferences and purchasing pattern. Due to stringent lockdown restrictions imposed by government to contain the virus contributed to transportation ban and restrictions on cross border trades. Consequently, it resulted in sharp decline in the global automotive industry, including aerial cars. Moreover, the pandemic is anticipated to have a long-term negative impact on worldwide living standards and consumer preferences. As people develop a better understanding of social distance and remote working policies, the pandemic may minimize the use of automobiles and related goods and services.

Saudi Arabia Flying Car Market

Segmental Coverage

Saudi Arabia Flying Car Market - By Component

Based on component, Saudi Arabia flying car market is bifurcated into Hardware and Software. The hardware segment held a higher market share due to designing of flying cars with rotors rather than wing resulting in vertical takeoff and landing. The purpose of flying car is to enhance the transportation efficiency, particularly in cities with heavy traffic congestions. In addition, technology advancements to improve battery energy density, materials science, and computer simulations are expected to boost the development of personal flying vehicles.  

Saudi Arabia Flying Car Market

Saudi Arabia Flying Car Market - By Mode of Operation

Based on the mode of operation, Saudi Arabia flying car market is bifurcated into Piloted and Autonomous segments.

Saudi Arabia Flying Car Market - By End Use

Based on end use, Saudi Arabia flying car market is divided into Commercial and Professional Commute, and Personal Commute segments.

Saudi Arabia Flying Car Market - By Seating Capacity

Based on seating capacity, Saudi Arabia flying care market is divided into One, Two, Four, and More than Six passenger segments. The two-seating segment is expected to dominate the market. Compared to the four and more than six seating capacity segments, two-seating capacity flying cars are lightweight and need less investment, which is supposed to minimize the risk of failure. It is expected to increase investments and development activities by prominent players in Saudi Arabia market to produce two-seating capacity flying cars.

Competitive Landscape

Saudi Arabia flying car market is fiercely competitive. Prominent market players include Boeing, EHang, Airbus, Joby Aviation, and Lilium. To further enhance their market share, these large companies are primarily focused on the development of innovative and efficient products, new product releases, market initiatives, mergers and acquisitions, and other collaborative activities.

Recent Developments

  • In October 2022, Saudia, the national airline of Saudi Arabia, signed a memorandum of understanding (MoU) with Lilium, a Germany-based leading provider of air mobility solutions, for buying Lilium’s 100 electric flying cars to meet the increasing demand for air taxis in the kingdom.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2018–2021

Base Year – 2021

Estimated Year – 2022

Forecast – 2022–2028

Facts Covered

Revenue in USD million

Market Coverage

Saudi Arabia

Product/ Service Segmentation

Component, Mode of Operation, End Use, Seating Capacity 

Key Players

Boeing, EHang, Airbus, Joby Aviation, Lilium

 

By Component

  • Hardware

  • Software

By Mode of Operation

  • Piloted

  • Autonomous

By End Use

  • Commercial & Professional Commute

  • Personal Commute

By Seating Capacity

  • One

  • Two

  • Four

  • More than Six

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Saudi Arabia Flying Car Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Changing urban mobility outlook
        2. Increasing investments by key players
      2. Restraints
        1. Higher development costs for flying cars
      3. Opportunity
        1. Forming collaborations, joint ventures, and partnerships
        2. Capturing untapped potential of the market
      4. Challenges
        1. Requirement of costly technology updates
        2. Stringent regulations for aviation license
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Saudi Arabia Flying Car Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Component
        1. Hardware
        2. Software
      2. By Mode of Operation
        1. Piloted
        2. Autonomous
      3. By End Use
        1. Commercial & Professional Commute
        2. Personal Commute
      4. By Seating Capacity
        1. One
        2. Two
        3. Four
        4. More than Six
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
  6. Impact of Covid-19 on Saudi Arabia Flying Car Market
  7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
    1. Boeing
    2. EHang
    3. Airbus
    4. Joby Aviation
    5. Lilium
    6. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1  Saudi Arabia Flying Car Market Segmentation

Figure 2  Saudi Arabia Flying Car Market Value Chain Analysis

Figure 3  Company Market Share Analysis, 2021

Figure 4  Saudi Arabia Flying Car Market Size, By Value (USD Billion), 2018-2028

Figure 5  Saudi Arabia Flying Car Market Share, By Component, By Value, 2018-2028

Figure 6  Saudi Arabia Flying Car Market Share, By Mode of Operation, By Value, 2018-2028

Figure 7  Saudi Arabia Flying Car Market Share, By End Use, By Value, 2018-2028

Figure 8  Saudi Arabia Flying Car Market Share, By Seating Capacity, By Value, 2018-2028

 

List of Table

 

Table 1       Saudi Arabia Flying Car Market Size, By Component, By Value (USD Billion), 2018-2028

Table 2       Saudi Arabia Flying Car Market Size, By Mode of Operation, By Value (USD Billion), 2018-2028

Table 3       Saudi Arabia Flying Car Market Size, By End Use, By Value (USD Billion), 2018-2028

Table 4       Saudi Arabia Flying Car Market Size, By Seating Capacity, By Value (USD Billion), 2018-2028

Table 5       Boeing Company Overview

Table 6       Boeing Financial Overview

Table 7       Ehang Company Overview

Table 8       Ehang Financial Overview

Table 9       Airbus Company Overview

Table 10      Airbus Financial Overview

Table 11      Joby Aviation Company Overview

Table 12      Joby Aviation Financial Overview

Table 13      Lilium Company Overview

Table 14      Lilium Financial Overview

 

Market Segmentation

By Component

  • Hardware

  • Software

By Mode of Operation

  • Piloted

  • Autonomous

By End Use

  • Commercial & Professional Commute

  • Personal Commute

By Seating Capacity

  • One

  • Two

  • Four

  • More than Six

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