The European market for urban air mobility is anticipated to reach €4.2 billion by 2030, representing a 31% share of the global industry. While this highly inventive sector presents a chance for economic growth and job creation in Europe, it also creates several governance, regulatory, and infrastructure issues for cities.
While it is uncontested that public transportation and active mobility play a crucial part in the green transition, the novel sector of urban air mobility, in which unmanned planes transport passengers and cargo at low altitudes, has yet to establish its worth. Air mobility is predicted to become a reality in Europe over the next three to five years when the airspace above cities becomes an extension of the public space on the ground.
Volocoptor, headquartered in Bruchsal, Baden-Württemberg, Germany, is an urban air mobility firm that designs eco-friendly air taxis to carry passengers. Volocoptor, founded by Alexander Zosel and Stephan Wolf, specializes in constructing electric multirotor helicopters as personal air taxis. The chief executive officer is Dirk Hoke, and the chairman is Stefan Klocke.
Volocopter provides urban air mobility (UAM) to the world’s megacities. By offering a spectacular new method of transportation, the aerial mobility service provider intends to enhance the quality of life for city dwellers. Creating sustainable and scalable UAM ecosystems with infrastructure and operations partners is intended to assist Europe in achieving its €4.2B target by 2030.
Volocopter’s family of eVTOL aircraft will provide passengers (VoloCity and VoloConnect) and cargo (VoloDrone) with swift, secure, and emission-free connections to their destinations, supported by VoloIQ, the software platform of the UAM ecosystem that serves as its digital backbone for safe and efficient operations. Volocopter, a pioneer in the UAM business, will provide commercial services in the coming years.
The company, founded in 2011, employs over 500 individuals in Germany and Singapore, has done over 1,000 successful public and private test flights, and has funded $780,6M from 26 investors, including Gly Capital Management, NEOM, and WP Investment. The most recent Series E fund raised $182M on 1 November 2022 and $170M on 4 March 2022.
In its most recent investment from NEOM, Volocopter will create an advanced air mobility industry in Saudi Arabia, in line with NEOM’s innovative mobility sector strategy. It expands upon the NEOM-Volocopter joint venture formed in December 2021, which will run electric air taxi services in NEOM to connect diverse regions, such as THE LINE, OXAGON, and TROJENA.
Preferred use cases such as medical emergencies and pharmacy goods deliveries are already being explored. To ensure that the urban air mobility space helps the European economy and enhances the quality of life for all residents, city planners and industry must increase their relationship. Competitors of Volocopter, including Argo AI, Aerodyne Group, and EasyJet, are equally geared for impact. ♦
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