Flying Bikes Market Expected to Reach $306.1 Million by 2030

According to a recent report published by Allied Market Research, titled, “Flying Bikes Market by Application and Mode of Operation: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

The global flying bikes market was valued at $52.2 million in 2021, and is projected to reach $306.1 million by 2030, registering a CAGR of 21.7%.

North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global flying bikes market share in North America in 2020, owing to increase in R&D activities, technological developments by various players, and rapid adoption of innovative technologies in making safer, convenient, & efficient flying bikes. North America is expected to grow at a significant rate during the forecast period due to rise in demand for faster and convenient next-generation technologies, such as flying bikes.

By application, the hoverbikes market is categorized into emergency services, transportation, police administration, military & defense purposes, and others. The emergency services segment accounted for the highest revenue in 2020, owing to high demand for advanced aerial platforms that are fast, safe, and can be operated at constricted spaces.

By mode of operation, the flying bikes market is divided into electric, hybrid, and others. The electric segment accounted for the highest revenue in 2020, owing to increase in demand for lighter, safer, and carbon-neutral next-generation aerial mobility solutions.

Change in urban mobility outlook and upcoming application areas for flying bikes are expected to drive the flying bikes market during the forecast period. Safety issues with flying bikes and high cost of flying bikes are anticipated to hamper the growth of the market. Moreover, acquiring the untapped potential of Asia-Pacific market and strategic developments by major players are expected to offer lucrative opportunities for the market in future.

COVID-19 Impact Analysis

• The COVID-19 impact on the flying bikes market is unpredictable and is expected to remain in force for a few more years.
• The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned the import-export of non-essential items for most part of the year 2020. This led to rise in delays in the production and testing of prototypes and hampered the progress of flying bikes market across the globe.
• Adverse impact of the COVID-19 pandemic resulted in delay in activities and initiatives regarding development of robust and innovative flying bike solutions globally.

Key Findings Of The Study

• By application, the emergency services segment is expected to register a significant growth during the forecast period.
• By mode of operation, the electric segment is expected to register a significant growth during the forecast period.
• By region, North America is anticipated to register the highest CAGR during the forecast period.

Key players that operate in the global flying bikes market include A.L.I. Technologies, Aerofex Corporation, Bay Zoltan Applied Research Non-Profit Ltd., BMW Motorrad, DuratecS.R.O, HOVER, Jetpack Aviation, Kalashnikov Concern JSC, Lazareth Auto-Moto, and Malloy Aeronautics.