SHOPSMART AUTOS – CUSTOMER INFORMATION – JANUARY 20, 2021
The $1.5 Trillion Potential Behind Flying Cars
I’ve had a thing for flying cars for some time now. But when I mention it in the office, I get laughed at. I’m telling you … they’re coming. The more I see (and I got to see a demo I’ll tell you about in a moment), the more I’m convinced they’re set to become part of the future of transportation — what I like to call Transportation 2.0. If you just giggled at your screen or think flying cars are some wild idea that will never get off the ground, think again. Morgan Stanley predicts that by 2040, the “urban aviation market” will hit $1.5 trillion, thanks to what are known as eVTOL (electric vertical takeoff and landing) aircraft. A big portion of that ($413 billion) will go to freight transportation, while $198 billion will be spent on related technologies and services – from autonomous control software to next-generation batteries. But get this. Some $851 billion will be spent on passenger vehicles — aka, flying cars. If you live in or near a major city you know full well the hassle that daily traffic brings. It costs us needless time, money, and stress. I ride a scooter to work (at least in the warmer months), and while tech-forward taxi services from
Uber
(NYSE:
UBER
) and
Lyft
(NASDAQ:
LYFT
) are also a great convenience, they don’t really address the overall traffic congestion issues that still plague our cities. Companies like Blade Air Mobility, Uber, and Voom offer on-demand helicopter transit in major urban areas like New York City. Thanks to new tech, data, and ridesharing, these companies have been able to reduce costs for customers from thousands down to hundreds of dollars. But that’s just the steppingstone to a new generation of electric-powered and autonomous flying cars that are being designed to provide cheaper, safer transportation. I got an inspiring view into the future of flying cars at CES 2020 in Las Vegas a few weeks ago. On the showroom floor, I saw a demonstration of a miniature version of private aerospace company Bell’s Nexus air taxi. The Nexus has a 150-mile range, a top speed of 150 miles per hour, an augmented-reality flight experience, and six tilting ducted fans powered by a hybrid-electric propulsion system. Having six propellers can reduce the noise associated with helicopters and provide safety backup in case one or more fails. Make it A Champion Day!
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