How soon will we see Flying Taxis?

Uswitch investigated the flying car market to find out when we’re likely to be ditching roads for aerial alternatives and how much they are likely to cost. How soon will we see Flying Taxis?

Uswitch’s report found that a seat in an Uber Elevate flying taxi, launching in 2023, will cost an estimated £4.24 per mile, only 64p more per mile than an average London taxi.

 Uber’s Flying Taxi’s: Key Findings

Uswitch found that you might not have to save up quite as much as you’d think for a flying car, with a low-end price tag of £95,000, the same price as a high-end Porsche.

The global market for flying cars is projected to reach £1.2 trillion by 2040

Out of 101 active urban aviation projects investigated, 38% are already in the flight-testing stage whilst 5% are even further down the line and in the process of applying for commercial certification.

Uber’s Elevate flying taxi will cost an estimated £4.24 per mile which means it would only cost 64p more per mile than an average London taxi

Although people are fascinated by flying cars, a 2019 global survey of 10,000 people found that 80% of people are concerned that they won’t be safe

Read on for five key insights into what the next stages of this exciting technology will look like.

1. A first-generation flying car could cost as little as £95,000.

Although some may not look like the technology from sci-fi, shaped more like large drones than a hovering hatchback – there are still plenty that have the wheels and wings combo to satisfy purists, and many have even revealed estimated price points for when they’re available.

While the prices may be a bit lower than you’d expect, especially the Samson Switchblade which comes in much cheaper than many ground-based sports models, only time will tell what the price of the car insurance on them will be.

2. Over 1/3 of flying car projects are already being flight-tested

When you see news articles about flying cars, they always seem to be just out of reach. That’s not to say that progress isn’t being made on them, with 38% of active flying cars and eVTOL projects currently in the flight-testing stage. Of the 101 flying vehicles included in Uswitch’s research, five have reached the certification stage – waiting to see whether they’ll be permitted for personal and commercial use.

3. From taxis to deliveries, what will the main use of flying cars be?

According to a 2020 report from Ehang, a world-leader in autonomous aerial vehicles (AAVs) the most promising uses for the technology are:

Logistics & Shipping – £37 billion market size*
Smart City Management – £22 billion market size*
Passenger Transportation – £2.4 billion market size*
Aerial Media Solutions – £238 million market size*

*Projected 2023 market size

4. The flying car market will be worth £1.2 trillion globally by 2040

Household names like Uber, Hyundai, Audi, Toyota as well as British automotive icons like Rolls-Royce and Aston Martin are amongst those racing to be the first to get commercially viable flying cars into the market.

Thanks to the huge success of consumer and commercial drones, there is a huge appetite for aerial vehicles that can get people from A to B, deliver everything from the weekly shop to takeaways, and also help to make cities a greener place by easing congestion.

5. While people like the idea of flying cars, they are more cautious of the reality

A 2019 Deloitte study, which asked a global focus group of 10,000 their views on flying cars, found that 80% had fears about their safety. However, 50% of people in the same study viewed them as a viable solution to congestion in cities.

About Uswitch

Uswitch is an online and telephone comparison and switching service that helps you to compare prices on a range of products and services.

Uswitch can help you save money on gas and electricity, heating cover, home phone, communications, insurance, and personal finance products. Their aim is to help you take advantage of the best prices and services on offer from suppliers.

All the benefits of Uswitch.com’s helpful, comprehensive, and convenient service are available for business customers too with UswitchforBusiness.com, which helps companies compare prices and switch on a range of business services including gas, electricity, and insurance.

Find out more: https://www.uswitch.com/guides/car-insurance/flying-cars/

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