|Market Size in 2022
|Market Forecast in 2030
|CAGR (in %)
|USD 64.15 Billion
|USD 254.56 Billion
Flying Motorbikes Market
The global flying motorbikes market size was worth around USD 64.15 billion in 2022 and is predicted to grow to around USD 254.56 billion by 2030 with a compound annual growth rate (CAGR) of roughly 18.63% between 2023 and 2030.
Flying motorbikes, until a few years ago, were concept motorbikes. However, as of 2023, they have become a reality to a certain extent. Flying motorbikes or hoverbikes perform the role of a conventional motorbike but the only difference is that the former moves above ground level while the latter performs on roads. Hoverbikes are an amalgamation of an aircraft and a traditional motorbike. Some of the brands available in the commercial market use typical aircraft engines to lift the bike off the ground and help it move from one point to another. However, certain variants work on advanced technology such as ducted fans and tilt-rotors.
For instance, the LMV 496 by Lazreth, a France-based automotive company, performs by separating the wheels when in flying mode. The wheels then face downward and turn into 4-wheeled-hub jet turbine engines. This allows the vehicle to get the extra momentum or added thrust with the addition of 2 additional turbines. The flying motorbike industry has covered a long distance on paper but until recently it has become a reality. With the ongoing efforts toward the commercial application of flying motorbikes, the market prospects appear positive during the forecast period.
Increasing congestion on roads and a higher need for improved traffic management to drive market growth
The global flying motorbikes market is projected to grow owing to the increased concerns over intense road traffic and congestion. With increasing urbanization and surging sales rate of automotive vehicles including 4-wheelers and 2-wheelers, the global traffic ecosystem has worsened in recent times. A recent report pointed out that citizens in London lost around 156 hours in 2022 due to traffic congestion. Spending several hours stuck in traffic is not merely an uncomfortable situation for the general public but it tends to have a more comprehensive impact on the environment. For instance, the same report on world traffic situations claimed that people in London spend USD 223 extra on fuel than necessary. It means that more fuel is consumed and wasted, which translates to higher environmental pollution. Similar traffic-related statistics are observed in almost all developed countries and emerging nations. Countries with poor traffic management are the worst hit since there are no provisions to ensure the safe passage of ambulances and other critical vehicles during peak hours. These factors may collectively impact the demand for flying motorbikes in the coming years as such bikes do not run on the ground and can help in reducing traffic-related issues.
Growing applications for military purposes to deliver higher revenue
Flying motorbikes can become a part of the advanced military ancillary and equipment. Countries across the world are raising military budgets and investing in developing or procuring advanced systems that can assist in maintaining national harmony and prove useful in combat situations. In February 2023, India announced an increase in its military budget to USD 72.6 billion as tensions with neighboring countries continue to grow. The global military expenditure in 2022 grew by 3.72%. The rising spending levels could promote the adoption of flying motorbikes in the defense system.
Resource-intensive investment for developing flying motorbikes could restrict market expansion
The flying motorbike industry is relatively new and it suffers from the disadvantages associated with first-movers in the commercial world. Some of the problems are related to critical issues such as the risk of copyright infringement or technology theft. Additionally, the development of flying motorbikes requires intensive resources including monetary and non-monetary. Since the technology is relatively new, there is a considerable lack in terms of supply of skilled labor which further diminishes growth prospects for flying motorbikes. Government rules related to the commercial sale and use of hoverbikes are still ambiguous since the products have not even reached the majority of the countries and are still restricted to the nations where they were initially developed.
Increasing research and innovation in the industry to create expansion possibilities
In the last two years, there has been significant growth in research and innovation related to flying motorbikes. In September 2022, AERWINS, a Japanese startup, debuted the world’s first flying motorbike at the Detroit Auto Show held in the US. The new bike was compared to the bikes shown in the popular movie and show franchise called Star Wars. The bike is called XTURISMO and is set to be launched by 2023. One of the other brands offering flying motorbike technology is called P2 Speeder by Mayman Aerospace. The bike is powered by 8 jet turbine engines and uses zero net carbon aviation fuel. Mayman Aerospace is marketing the product to be used by law enforcement agencies and for military purposes including search and rescue. The LMV 496 by Lazareth is a hybrid motorbike that can function on the ground and in the air thus improving the overall functionality of the tool.
Lack of supporting infrastructure and high cost of the bikes could create challenges against growth
The world is currently not equipped for extensive everyday consumption of flying motorbikes. Several countries do not have efficient road infrastructure and using flying motorbikes is not a part of their long-term goals. Moreover, flying bikes are extremely expensive. The recreational version of P2 speeder costs USD 380,000 while the cost of Xtrusimo LE reaches USD 680,000.
The global flying motorbikes market is segmented based on application, mode of operation, and region.
Based on application, the global flying motorbike market segments are police administration, emergency services, military & defense purposes, transportation, and others. The highest growth in 2022 was observed in the emergency services segment since most of the brands providing flying motorbikes are designing technology with the final intent of being used for emergency incidents such as rescue or search operations. During the forecast period, the segmental growth may be observed at a CAGR of 25.25%. Additionally, the military & defense purposes section could also grow at a significant rate as military expenditure is on the rise along with growing international alliances between countries for the supply of modern arms and defense equipment.
Based on mode of operation, the flying motorbikes industry segments are hybrid, electric, and others. In 2022, the electric segment controlled around one-third of the total revenue and during the forecast period, it may grow at a CAGR of 24.32%. In April 2022, students at the University of Technology in Delhi converted a conventional 675 Daytona superbike into a flying motorbike prototype. The bike is powered by three cylinders and weighs only 47 kg. The students considered the affordability factor while designing the bike.
|Flying Motorbikes Market
|Market Size in 2022
|USD 64.15 Billion
|Market Forecast in 2030
|USD 2254.56 Billion
|CAGR of 18.63%
|Number of Pages
|Key Companies Covered
|Aerofex Corporation, A.L.I Technologies, Lazareth Auto-Moto, BMF Motorrad, Northrop Grumman, Jetpack Aviation, Duratec S.R.O, Thales, Safran, Kalashnikov Concern JSC, HOVER, Honeywell, Raytheon, Malloy Aeronautics., and others.
|By Application, By Mode of Operation, and By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|2017 to 2021
|2023 - 2030
|Avail customized purchase options to meet your exact research needs. Request For Customization
Asia-Pacific to dominate with the highest growth rate
The global flying motorbikes market is expected to witness the highest growth in Asia-Pacific. In 2022, the region controlled over 35.1% of the total revenue generated. The regional growth is attributed to the ongoing research and development in Asian countries including Japan and China. The former has been a pioneer in launching the most advanced flying motorbike brand as the country fosters innovation. Additionally, in recent times, Japan has increased its military expenditure which may drive regional demand since the developer of the most recently developed Xtrusimo bikes, AERWINS, is based in Japan.
Simultaneously, China is expected to invest more in these tools as the country faces issues related to dense population in urban areas. A 2019 report on the fatality rate in China caused by traffic showed that the rate of traffic-induced deaths in the country was 36 per 100,000 cars. India is an emerging nation with a lot of scope for domestic development and manufacturing of flying hoverbikes. North America is expected to grow at a CAGR of 8.5% by 2030 led by increasing investment in new flying motorbike development. Moreover, the country's defense team is one of the world’s most advanced and well-funded sectors that could assist in pushing regional growth to new dimensions.
The global flying motorbikes market is led by players like:
By Mode of Operation
Flying motorbikes or hoverbikes perform the role of a conventional motorbike but the only difference is that the former moves above ground level while the latter performs on roads
The global flying motorbikes market is projected to grow owing to the increased concerns over intense road traffic and congestion.
According to study, the global flying motorbikes market size was worth around USD 64.15 billion in 2022 and is predicted to grow to around USD 254.56 billion by 2030.
The CAGR value of flying motorbikes market is expected to be around 18.63% during 2023-2030
The global flying motorbikes market is expected to witness the highest growth in Asia-Pacific.
The global flying motorbikes market is led by players like Aerofex Corporation, A.L.I Technologies, Lazareth Auto-Moto, BMF Motorrad, Northrop Grumman, Jetpack Aviation, Duratec S.R.O, Thales, Safran, Kalashnikov Concern JSC, HOVER, Honeywell, Raytheon, and Malloy Aeronautics.
The report explores crucial aspects of the flying motorbikes market including a detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.