China plans to catpure 23% of world flying car market estimated to be US$1 trillion by 2040
Chinese manufacturers of flying cars are preparing to go mainstream, riding on the country’s supportive stance towards this nascent industry.
At a tech exhibition in Macao, Guo Liang, the CEO of Aerofugia, a Chinese flying car company, declared that they plan to launch flying cars in 2025 or 2026 commercially.
Guo views this transformation as surpassing the impact of car electrification.
Flying cars, or electric vertical takeoff and landing (eVTOL) aircraft, integrate elements from helicopters, drones, and small airplanes.
As per the Vertical Flight Society, over 800 eVTOL designs have been recorded globally.
Morgan Stanley forecasts the global flying car market to be worth US$1 trillion by 2040, with an impressive surge to US$9 trillion by 2050.
By then, China plans to secure 23% of the market share, second only to the United States, with an anticipated 27%.
In a recent conversation, Guo drew attention to the cost-effectiveness of flying cars relative to helicopters.
He suggested that these new low-altitude transport vehicles would initially cost about a third to a fifth of helicopter fares.
While this might be steep for average consumers, Guo anticipates that progressive innovations will reduce prices over time, making flying cars more affordable.
Guo further accentuated the ongoing development of flying car technology, likening it to the smartphone evolution.
Companies such as Joby Aviation in the U.S., Vertical Aerospace in the UK, and traditional industry giants like Boeing spearhead flying car development, with many envisioning a future void of human pilots.
While the full commercialization of flying cars is yet to occur anywhere, Chinese companies have made significant strides.
eHang, a drone startup, revealed a flying car in 2016, while Zhejiang Geely Holding, an automobile manufacturer, established Aerofugia as a subsidiary in 2020 and invested in Volocopter, a German startup.
Xpeng, an electric vehicle startup, is also developing its own flying car.
With a wide array of flying cars developing worldwide, it isn’t easy to establish a clear superiority.
However, China holds an advantage with its robust battery supply chain, a key element for eVTOL aircraft, potentially enabling mass production.
China outlined a roadmap for integrating flying cars into civil aviation last August, expressing plans to experiment with unmanned, short-range passenger aircraft by 2025.
This move reflected the government’s dedication to formulating flying car regulations, encouraging manufacturers to pursue commercial aircraft certification.
Chinese companies have undertaken ample test flights to secure a pioneering role globally.
eHang’s Vice President, He Tianxing, reported that by March, they had established operations in 16 Chinese cities, carried out over 8,200 local test flights, and completed more than 35,000 test flights in 12 countries worldwide.
While the private sector pushes to prepare the flying car industry, the progress of governmental regulations and potential limitations might influence the 2025 launch target.
Certification-related delays could surface if an aircraft approved in China struggles to attain equivalent certification elsewhere.
Chinese companies are conducting test flights overseas to counter this, but the geopolitical friction between the U.S. and China could pose hurdles to international expansion.
Flying cars China, eVTOL market size, Guo Liang, the CEO of Aerofugia, eHang, eHang’s Vice President, He Tianxing,Zhejiang Geely Holding,
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