There’s been a lot of buzz about flying taxis in the news recently, even though none are buzzing in our skies. Yet.
Flying taxis, also known as electric vertical takeoff and landing (eVTOL) aircraft, are making waves around the world, with US air regulators recently publishing rules to formally add the machines to the list of regulated aircraft.
It has been argued that the new aircraft, which mixes characteristics of helicopters and planes, could help reduce traffic congestion in crowded cities while remaining affordable for customers. It has also been seen as an alternative for transporting cargo.
The Federal Aviation Administration (FAA) recently proposed that it would expand the definition of these new machines it considers air carriers, adding “powered lift” to the list. This move is an important step toward making these flying taxis a reality.
The new rules will now face a period of public comment before they can come into effect, with the proposed rules expected to be published officially in summer 2023. These rules will outline in more detail the criteria which firms must meet in order to certify pilots and launch their operations.
The update by US air regulators is essential in order for firms to offer flights to customers, and for these flying taxis to officially lift off. With this new style of aircraft being presented as the transport of the future, the move comes amid companies ramping up investments in the new technology.
Money has been flooding into the sector, as major airlines have begun to place orders and investors have been pouring capital into a batch of start-ups. The hype surrounding these commercial air taxis comes as another leading aviation technology, delivery drones, is projected to grow to $5,556 million by 2028.
Technology is taking off all over the place. In November, NASA successfully launched the Artemis 1 mission, which will be the farthest a vehicle designed for human astronauts has ever traveled into space. And it’s not just in the world of aviation and space that technology is flying. Businesses are also taking massive leaps forward in the world of tech. You just need to look at the latest figures from industries like digital wallets, with a market estimated increase of more than $1.31 trillion by 2023, or online casinos, which are predicted to take north of $150 billion in revenue by 2028, just over 30 years after they first landed on the scene.
Many analysts in the US do not expect flying taxis to officially take off until 2024 or 2025 at the very earliest, with the ongoing debate about how to regulate the new machines one of the stalling factors. While the exact time frame remains uncertain, it hasn’t stopped firms racing for a piece of the action, with the likes of United Airlines and Delta among the major companies that have already committed millions of dollars to the cause.
However, there are some who are skeptical. The technical challenges faced, such as finding enough spaces for these vehicles to take off and land, and integrating them into air traffic control systems, as well as the task of winning public confidence and reducing costs enough to make flying taxis affordable, are all still major hurdles.
Robin Riedel, a partner at McKinsey and co-leader of the firm’s Center for Future Mobility, expects travel by flying taxis to remain limited to selected cities and routes until at least 2030, while being used primarily by the ultra-rich or for business passengers to begin with, rather than the general public. But he also recognises the fact the FAA is going through the trouble of making these rules and regulations, which is an encouraging sign that the industry is on its way.
Final thoughts
This latest step by the FAA signals that it is committed to making progress on the topic, and while it is positive progress, the details are still to come. With the world of tech ever expanding and progressing, perhaps the science fiction dreams of the creators of The Jetsons, where commuters headed to work in cars that soared through the air, are closer than ever to becoming a reality.