eVTOL companies have tried their best to keep working on the vehicles of the future despite the pandemic that took over the world. Even if the coronavirus is going strong, it didn’t manage to stop the growth of the eVTOL market.
All businesses focusing on flying taxis are as determined as ever to keep things moving so that eVTOLs can arrive as soon as possible.
Investors still look towards the market and think positively. They can see the progress that was made so far and are looking forward to the improvements that will be made in the close future. In the beginning, many of the companies that were working on eVTOLs were not in the best situation as they were struggling financially. Raising money was a real challenge. Now, there is some investing going on, which allowed for some more developments to be made.
But why are eVTOL investors so excited for the future, though?
eVTOL Companies May Have a Big Role to Play in How People Commute
eVTOLs are in the works for multiple reasons. One of the main things that it will be used for is, obviously, passenger transport. People will have easier ways to go to work or visit loved ones in the opposite part of their cities thanks to eVTOLs. As a result, they will not have to be stuck in traffic for hours. But besides passenger transport, eVTOLs will also help with middle-mile and last-mile cargo delivery, as well as medical services. A lot of applications will be aided by eVTOLs when they eventually become accessible to the population.
So, manufacturers will need the technologies that will help the eVTOL revolution happen. Some people, including Dean Donovan who is a managing director of DiamondStream Partners, also think that technologies should be enabled first, rather than aircraft. According to him, propulsion companies will be the ones that will be a big factor in making eVTOLs happen. They might also reduce the costs that will then make this sort of vehicle work properly.
He also thinks that propulsion manufacturers will be co-design partners for airframe people, as well as partners for carriers. The latter will look for ways to make the vehicles more fuel-efficient, as well as quieter, and propulsion manufacturers have just the right tools to help with that.
There Are a Lot of Good Manufacturers
Even though it’s still early in the eVTOL development process, there are already some amazing companies in the game. Astro Aerospace, for instance, is a company with a lot of experience, but also with plenty of achievements so far.
For instance, not only do they have over 100 years of experience in aircraft engineering, but they were also the first ones to perform an eVTOL flight with a person onboard. Astro Aerospace (OTC:ASDN) has been developing eVTOLs for more than 6 years, and they will likely be one of the brands that will influence the market.
Just like that, there is Joby Aviation, which is also one of the top businesses in the flying taxi sector. It is one of the four companies that have an active certification application for the Federal Aviation Administration. It’s considered a leader when it comes to these vehicles, and they seem very promising.
Not too long ago, they revealed one of their prototypes, a beautiful model with four seats for passengers. They tested this model multiple times at their private airfield and they are supported by Toyota.
With so many amazing companies in the race to create eVTOLs, it’s not a surprise that investors are looking forward to the future of the market.
eVTOLs May Become Available as Soon as 2023
Even though it’s hard to believe that we will see eVTOLs flying next to our houses overnight, the progress is so amazing that some people in the industry expect them to become available as soon as 2023. Wyatt Smith, who is the Uber Elevate head of business development, was the one making these declarations.
“We still see progress in the ecosystem that leads us to the viewpoint that we are tracking towards commercial certification [of eVTOL aircraft] as soon as late 2023, and we think that’s going to enable us to get started at a modest scale in launch markets,” he said.
Even Japan might introduce air taxi services two years from now. SkyDrive is one of the players that managed to conduct a great eVTOL test. This proved that these things are possible and that they might become real in the very close future.
Given things might pay off so soon, it only makes sense that investors are excited about this industry. They have chances to see results sooner than expected.
Battery Technology Will Create New Investment Opportunities
One of the main issues with eVTOLs is the powering aspect. Manufacturers are trying their best to look into options that will not harm the environment in the process. Since electric vehicles became a thing, they are also looking towards electricity to solve their issues. Batteries are not yet good enough to fulfill this requirement, as they don’t work for too long and thus, long flights are not possible.
If they manage to work harder and achieve their goals, things will improve in other areas too. Developing some new batteries with new capabilities will help in other sectors as well, meaning that investors will get new investment opportunities that are just as exciting as eVTOLs. So, everything will be worth the time and effort.
Final Thoughts
While not all investors may jump into the eVTOL train, those that do it have reasons to be excited. eVTOLs might become reality sooner than expected, more specifically as soon as 2023, depending on how things are moving.
Batteries can open up new doors for investors, which leads to new investment opportunities. Furthermore, there are a lot of manufacturers that so far showed impressive progress – proving that eVTOLs can indeed become real and help in different sectors such as transport, healthcare, and so on. In the end, eVTOLs will change the world as we know it for the better.
