Report Overview

India Air Taxi Market – Industry Trends & Forecast Report, 2030

The India Air Taxi Market size by value was estimated at USD 396.12 million in 2023. During the forecast period between 2024 and 2030, the India Air Taxi Market size is projected to grow at a CAGR of 6.73% reaching a value of USD 438.76 million by 2030. Prominent drivers of the market include the growing need for efficient urban transportation solutions, rapid urbanization, and advancements in technology, particularly in electric aviation. Also, rising congestion on roads and the demand for quicker commute options contribute to the market's growth. Key industry stakeholders are actively channeling resources into research and development (R&D) initiatives, endeavoring to introduce cutting-edge technological solutions. These include integrated multimodal transportation networks, facilitating on-demand air mobility, goods delivery, and emergency services.

By volume, the India Air Taxi Market size was estimated at 5.21 thousand units in 2023. During the forecast period between 2024 and 2030, the India Air Taxi Market size is projected to grow at a CAGR of 6.11% reaching the volume of 6.09 thousand units by 2030. The Government of India’s endeavors aim at promoting air taxi services in urban locales and fostering global aviation industry support augur well for the growth of India Air Taxi Market. The advent of electric air taxis capable of vertical take-off and landing, and the development of all-electric, self-piloted aircraft, serve as additional catalysts for the market expansion.

Air Taxi – Overview

Air taxis offer an ideal solution for travelers who prioritize time efficiency. Departing from smaller airports close to the final destination significantly reduces travel time, affording passengers extra time for leisure activities. Furthermore, passengers enjoy the flexibility to schedule flights according to their convenience, accompanied by the luxury of comfortable and tailored travel experiences. Featuring lavish seating, entertainment amenities, and personalized routes, air taxis deliver a deluxe journey. They enhance the overall travel experience by minimizing stress and maximizing enjoyment, surpassing the standard airline experience.

India Air Taxi Market

Growth Drivers

Government’s Supportive Initiatives

Supportive initiatives and investments by the Government of India, alongside contributions from key players in the aviation industry, are propelling the expansion of the India air taxi market. This surge in development and innovation, spurred by supportive governmental policies, underscores the market's growth trajectory. Furthermore, the collaborative efforts of startups and industry leaders are instrumental in enhancing the adoption and proliferation of air taxi services across India. As the quality of air travel improves, offering passengers comfort and reduced travel times, consumer perception of air taxis as a viable transportation option continues to strengthen. Air taxis, with their ability to navigate specific distances swiftly and circumvent road congestion, are meeting the rising demand for alternative modes of transportation in the Indian market.

Advancements in Electric Vertical Takeoff and Landing (eVTOL) Aircraft

The establishment of VTOL Aviation India in 2017 marked a pivotal stride in advancing electric vertical takeoff and landing (eVTOL) aircraft within India, laying the groundwork for enhanced innovation. Focused on developing hybrid-electric and all-electric passenger aircraft, VTOL Aviation India is a driving force behind the burgeoning India Air Taxi Market. Their collaborations with prestigious institutions like the Indian Institute of Technology Kanpur and the EFC Group of Companies further underscore their commitment to progress. The recent unveiling of the Abhiyaan NX aircraft, designed for urban air mobility, exemplifies the rapidly advancing eVTOL technology. This upward trajectory bodes well for the expansion of the India Air Taxi Market. For instance, the ePlane Company, incubated at the Indian Institute of Technology Madras, Chennai, Tamil Nadu, aims to develop a certifiable flying electric taxi prototype by March 2025, offering a solution to urban congestion. Additionally, InterGlobe Enterprises' partnership with Archer Aviation plans to launch a fully electric air taxi service in India by 2026, utilizing 200 eVTOL aircraft. This collaboration further cements the pivotal role eVTOL technology will play in reshaping urban transportation landscapes.

Challenges

High Infrastructure Costs

High infrastructure costs pose a significant restraint for the growth of the India Air Taxi market. Developing the necessary infrastructure, such as vertiports for take-off and landing, requires substantial investment and logistical challenges, including land acquisition and regulatory hurdles. These costs can hinder the widespread adoption and growth of air taxi services in India, limiting accessibility and affordability for both operators and passengers. Addressing these infrastructure challenges effectively will be crucial for unlocking the full potential of the India Air Taxi market.

Impact of Escalating Geopolitical Tensions on India Air Taxi Market

Geopolitical tensions can have a multifaceted impact on the India Air Taxi Market. Heightened tensions may lead to airspace closures, increased security measures, and restricted flight operations, disrupting air taxi services. Investor confidence may wane amidst geopolitical uncertainties, leading to reduced funding for air taxi initiatives and slower market growth. Additionally, heightened geopolitical risks can deter potential passengers from utilizing air taxi services, impacting demand. To mitigate these impacts, stakeholders in the India Air Taxi Market must closely monitor geopolitical developments and implement contingency plans to ensure operational resilience and navigate through uncertain geopolitical environments effectively.

India Air Taxi Market

Segmental Coverage

India Air Taxi Market – By Aircraft Type

By aircraft type, the India Air Taxi Market is bifurcated into eVTOL and VTOL segments. The eVTOL segment is expected to hold a higher share in the India Air Taxi Market by aircraft type during the forecast period. It can be attributed to the increasing focus on sustainable aviation solutions and advancements in electric vertical takeoff and landing (eVTOL) technology. eVTOL aircraft offer numerous advantages, including lower operational costs, reduced environmental impact, and enhanced maneuverability in urban environments. Moreover, the rising demand for efficient and eco-friendly transportation options is driving the preference for eVTOL aircraft among both operators and passengers, positioning it as the leading segment in the India Air Taxi Market.

India Air Taxi Market – By Technology Type

Based on technology type, the India Air Taxi Market is split into Autonomous and Piloted segments. The piloted segment holds a higher share in the India Air Taxi Market by technology type. It is primarily due to the comfort and trust passengers have in piloted air taxis, alleviating apprehensions about autonomous technology. Moreover, piloted flights adhere to established aviation regulations, facilitating quicker regulatory approvals. While research into autonomous capabilities progresses, the piloted segment maintains its dominance, attracting a broader clientele and substantially driving market revenue growth.

India Air Taxi Market – By Range

Based on range, the India Air Taxi Market is bifurcated into Intercity and Intracity segments. The intracity segment holds a higher share in the India Air Taxi Market by range. It can be attributed to the escalating focus on alleviating urban traffic congestion and the rising demand for seamless point-to-point transportation within metropolitan areas. Intracity air taxis, tailored for short-distance travel, are projected to surge in popularity as cities explore innovative mobility solutions, thereby fueling the growth of this segment.

India Air Taxi Market – By Region

Geographically, the India Air Taxi Market is divided into North India, South India, East India, and West India regions.

Competitive Landscape

Major players operating in India Air Taxi Market include Airbus, InterGlobe Enterprises, Beechcraft Corporation, Boeing, Hyundai, Ubifly Technologies, Archer Aviation, and Textron India Private Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In April 2024 - Archer announced its collaborations with IndiGo, Uber, and Ola to expand the reach of electric air taxis in India. Spearheaded by InterGlobe, the venture aims to launch electric air taxis by 2026, tapping into Archer's expertise in developing electric air taxis. The venture also targets the acquisition of 200 electric air taxis and explores various applications, including medical and emergency services. Additionally, Archer focuses on local manufacturing in India, aligning with the country's burgeoning demand for efficient urban mobility solutions.

Scope of the Report

By Aircraft Type

• eVTOL

• VTOL

By Technology Type

• Autonomous

• Piloted

By Range

• Intercity

• Intracity

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Air Taxi Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Advancements in electric vertical takeoff and landing (eVTOL) aircraft
         2. Growing demand for regional connectivity
         3. Government initiatives to promote air taxis
      2. Restraints
         1. High infrastructure costs
         2. Regulation and safety concerns
         3. Public perception of air taxis
      3. Opportunity
         1. Increasing integration of urban air mobility (UAM)
         2. Increasing revolutionize for emergency medical services
      4. Challenges
         1. Issues related to range and affordability of electric batteries
         2. Lack of skilled workforce for operating and maintaining
   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. India Air Taxi Market: Pricing Analysis
5. India Air Taxi Market: Marketing Strategies
6. India Air Taxi Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Aircraft Type
         1. eVTOL
         2. VTOL
      2. By Technology Type
         1. Autonomous
         2. Piloted
      3. By Range
         1. Intercity
         2. Intracity
         3. Others
      4. By Region
         1. North India
         2. South India
         3. East India
         4. West India
7. North India Air Taxi Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Aircraft Type
      2. By Technology Type
      3. By Range
8. South India Air Taxi Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Aircraft Type
      2. By Technology Type
      3. By Range
9. East India Air Taxi Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Aircraft Type
      2. By Technology Type
      3. By Range
10. West India Air Taxi Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Aircraft Type
       2. By Technology Type
       3. By Range
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Air Taxi Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operation Channel Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
12. Impact of Escalating Geopolitical Tensions in India Air Taxi Market
13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Airbus
    2. InterGlobe Enterprises
    3. Beechcraft Corporation
    4. Boeing
    5. Hyundai
    6. Ubifly Technologies
    7. Archer Aviation
    8. Textron India Private Limited
    9. Other Prominent Players
14. Key Strategic Recommendations
15. 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 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       India Air Taxi Market Segmentation

Figure 2       India Air Taxi Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Air Taxi Market Size, By Value (USD Million), 2019–2030

Figure 5       India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Figure 6       India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Figure 7       India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Figure 8       India Air Taxi Market Share, By Region, By Value (USD Million) 2019–2030

Figure 9       North India Air Taxi Market Size, By Value (USD Million), 2019–2030

Figure 10     North India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Figure 11     North India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Figure 12     North India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Figure 13     South India Air Taxi Market Size, By Value (USD Million), 2019–2030

Figure 14     South India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Figure 15     South India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Figure 16     South India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Figure 17     East India Air Taxi Market Size, By Value (USD Million), 2019–2030

Figure 18     East India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Figure 19     East India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Figure 20     East India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Figure 21     West India Air Taxi Market Size, By Value (USD Million), 2019–2030

Figure 22     West India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Figure 23     West India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Figure 24     West India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

List of Tables      

Table 1        India Air Taxi Market Size, By Value (USD Million), 2019–2030

Table 2        India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Table 3        India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Table 4        India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Table 5        India Air Taxi Market Share, By Region, By Value (USD Million) 2019–2030

Table 6        North India Air Taxi Market Size, By Value (USD Million), 2019–2030

Table 7        North India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Table 8        North India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Table 9        North India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Table 10      South India Air Taxi Market Size, By Value (USD Million), 2019–2030

Table 11      South India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Table 12      South India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Table 13      South India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Table 14      East India Air Taxi Market Size, By Value (USD Million), 2019–2030

Table 15      East India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Table 16      East India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Table 17      East India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Table 18      West India Air Taxi Market Size, By Value (USD Million), 2019–2030

Table 19      West India Air Taxi Market Share, By Aircraft Type, By Value (USD Million) 2019–2030

Table 20      West India Air Taxi Market Share, By Technology Type, By Value (USD Million) 2019–2030

Table 21      West India Air Taxi Market Share, By Range, By Value (USD Million) 2019–2030

Table 22      Airbus Company Overview

Table 23      Airbus Financial Overview

Table 24      InterGlobe Enterprises Company Overview

Table 25      InterGlobe Enterprises Financial Overview

Table 26      Beechcraft Corporation Company Overview

Table 27      Beechcraft Corporation Financial Overview

Table 28      Boeing Company Overview

Table 29      Boeing Financial Overview

Table 30      Hyundai Company Overview

Table 31      Hyundai Financial Overview

Table 32      Ubifly Technologies Company Overview

Table 33      Ubifly Technologies Financial Overview

Table 34      Archer Aviation Company Overview

Table 35      Archer Aviation Financial Overview

Table 36      Textron India Private Limited Company Overview

Table 37      Textron India Private Limited Financial Overview