Flying Bikes (Hoverbikes) Market (By Mode of Operation: Electric, Hybrid, Others; By Application: Transportation, Emergency Services, Police Administration, Military and Defense purposes, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global flying bikes (Hoverbikes) market size was exhibited at USD 66.85 billion in 2022 and is projected to hit around USD 332.21 billion by 2032, growing at a CAGR of 17.39% during the forecast period 2023 to 2032.

Key Pointers:

• Based on geography, the Asia-Pacific market has generated more than 36% revenue share in 2022. 
• Based on geography, the North American area is expected to experience considerable growth at a CAGR of 8.7%. from 2023 to 2032.
• Based on mode of operation, the electric segment has accounted highest revenue share of around 75% in 2022.
• Based on application, the emergency services segment had the greatest share roughly one-third of the overall share in 2022.
• Based on application, the emergency services segment is predicted to grow at a CAGR of 25.4% from 2023 to 2032.

Flying Bikes Market Report Scope

A flying bike or a hoverbike is a vehicle that can fly and/or move on the road like a usual motorcycle and resembles a motorbike. A flying bike typically has least two propellers—one in front of and one behind the driver. The combination of various technologies, for instance, advanced manufacturing processes, autonomous systems, and ultra-efficient batteries lead to the development of advanced flying bike prototypes. The investments have increased in this hoverbikes market, which are expected to accelerate the advent of futuristic urban commute, freight & package transportation, and military and defense applications. 

Policy makers are required to introduce regulations and rules to boost change in need for urban commute solutions. Furthermore, in the upcoming years, infrastructural development is expected to be quite critical along with product development. 

Factors, such as change in urban mobility outlook and upcoming application areas for flying bikes are expected to drive the growth of the flying bikes market. However, safety issues with flying bikes and high cost of flying bikes restrains the market growth. Moreover, acquiring the untapped potential of Asia-Pacific market and strategic developments by major players are projected to offer lucrative growth opportunities for the market players.

In recent years, urban mobility, comprising mostly fuel-driven vehicles, is shifting toward digital high-end technologies, along with rise in the adoption of green mobility solutions to develop the next-generation sustainable and resilient transportation system. Moreover, the rapid trend toward urbanization demands for alternative transportation solutions to overcome modern urban transportation issues such as traffic congestions and increased air pollution, among others. This has led the companies that operate in the mobility sector to develop innovative solutions, for instance, flying bikes. Market players of flying bike solutions are focused on developing the electric or hybrid propelled transportation medium that can allow a safer flight. The flying bikes, which are being made across the globe for personal as well as commercial applications, are expected to offer a viable solution to avoid road traffic congestion. A number of prototypes that are expected to launch in the global hoverbikes market are Xturismo, Speeder, and Lazareth LMV 496. In the U.S., Japan, UK, among other nations, market players receive funds from several investors. A rise in demand for mobility alternatives that allow safer and faster movement is expected to drive the growth of the global flying bikes market during the forecast period.  

Some of the prominent players in the Flying Bikes Market include:

• A.L.I Technologies
• Aerofex Corporation
• BMF Motorrad
• Duratec S.R.O
• HOVER
• Jetpack Aviation
• Kalashnikov Concern JSC
• Lazareth Auto-Moto
• Malloy Aeronautics
• Raytheon
• Safran
• Honeywell
• Thales
• Northrop Grumman

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Flying Bikes market.

By Mode of Operation

• Electric
• Hybrid
• Others

By Application

• Transportation
• Emergency Services
• Police Administration
• Military and Defense purposes
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)