![]() The company partnered with South Korean automaker Hyundai earlier this year in a bid to manufacture air taxis. The company’s Uber Elevate wants to start demonstration flights this year. Uber is set to test its flying vehicles in Dallas, Los Angeles and Melbourne by the end of 2020. You can see the complete list of today’s Zacks #1 Rank stocks here. All of these stocks carry a Zacks Rank #3 (Hold). These Stocks Are Making Flying Taxis a Reality: Here’s Howĭiving deeper into the flying taxi market, we find that Uber Technologies, Boeing and Garmin Ltd. ![]() This is why it is prudent for investors interested in the air taxi space to track stocks with rather impressive operations in the same. According to a report by Frost & Sullivan, air taxi operations are set to begin in the Middle East in 2022 and witness a compounded annual growth rate of 45.9% to hit 430,000 units in operation worldwide by 2040. The air taxi market’s growth is speculated to be tremendous based on the above factors. The company completed the first phase of testing its Lilium Jet prototype in October 2019. Recently, Baillie Gifford, Tesla’s TSLA top external investor, invested $35 million in Munich-headquartered Lilium, a designer of electric aircraft that is trying to make its mark in the flying taxi space. It is this potential for air taxis that has investors flocking to the domain. UBER, Hyundai, Airbus and The Boeing Company BA are instrumental in making air taxis a reality. ![]() Electric flying taxis could not only drastically decrease operating and maintenance costs but also cover greater distances at a much shorter time.Īdvancement in autonomous flight technology, better battery technologies and significant investment by major players such as Toyota Motor Corporation TM, Uber Technologies, Inc. While urban mobility is restricted to land-driven vehicles for now, the promising market of flying taxis holds potential. ![]()
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