Air taxis may not be transporting any passengers just yet, but a new report predicts that the global market will grow to just over $2.3 billion by 2027, representing a 19.6 percent compound annual growth rate over the next five years. According to the 143-page report, which was conducted by the research and consulting firm IMARC Group and published by Research and Markets, the global air taxi market was valued at $817.5 million in 2021.
The report forecasts that rising demand for more efficient transportation options, combined with increasing congestion of road vehicles and environmental concerns, will spur industry growth in the coming years. It also cites significant expansion in the aviation and transportation industries and new government initiatives focused on urban air mobility as key drivers for the air taxi market.
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