{"id":24595,"date":"2023-01-24T02:52:23","date_gmt":"2023-01-24T02:52:23","guid":{"rendered":"https:\/\/saj.pachecostudios.com?p=24595"},"modified":"2023-01-24T02:52:25","modified_gmt":"2023-01-24T02:52:25","slug":"air-passenger-taxis-and-air-ambulance-seen-as-biggest-evtol-growth-markets","status":"publish","type":"post","link":"https:\/\/stateaviationjournal.com\/index.php\/evtol\/air-passenger-taxis-and-air-ambulance-seen-as-biggest-evtol-growth-markets\/%20","title":{"rendered":"Air Passenger Taxis and Air Ambulance Seen as Biggest eVTOL Growth Markets"},"content":{"rendered":"\n

Air passenger taxis, air ambulance and cargo transport are\nseen as the three areas of the eVTOL market that will see the biggest growth\nover the next five years. This is according to new research (1) from Horizon\nAircraft (\u201cCompany\u201d or \u201cHorizon\u201d), an innovative leader in hybrid electric\nVertical Take-off and Landing (VTOL) aerial vehicles, with private equity and\nventure capital professionals. <\/p>\n\n\n\n

Key to growth of the eVTOL market will be the development of\nbattery technology making longer flights of over 100 miles more practical and\nsustainable. Four out of ten (40%) private equity and venture capital\nprofessionals believe battery technology will evolve enough over the next two\nyears to make this achievable, and 29% believe this will be the case by 2025. A\nfurther 22% say this will be achieved by 2026 or 2027. <\/p>\n\n\n\n

Overall, from an investors point of view, 97% of private\nequity and venture capital professionals believe that it is important that an\neVTOL can be used in different transport markets \u2013 from air passenger taxi\nservices to military operations.<\/p>\n\n\n\n

Brandon Robinson, CEO of Horizon Aircraft said, \u201cThe\nversatility of eVTOLs is what makes many of them attractive to investors. We\ndesigned our unique aircraft to target early use cases that are underpinned by\nsolid economics. Our aircraft doesn\u2019t require significant regulatory changes,\nhuge battery improvements, or new types of power systems; it is designed with\ncurrent technology to do useful work today across a wide variety of missions.\u201d<\/p>\n\n\n\n

\"\"
Horizon Cavorite X5<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Horizon Aircraft, and its Cavorite X5 eVTOL are enjoying\nstrong progress with several grants, a USAF contract award, and a flying\nlarge-scale prototype. <\/p>\n\n\n\n

Horizon Aircraft is currently running rigorous testing of\nits 50%-scale prototype and developing a detailed design of a full-scale\nprototype as it pursues the next phases of the AFWERX HSVTOL challenge that\ncould offer up to $35M in non-dilutive financing over the next three years. <\/p>\n\n\n\n

In 2022, the US Air Force selected a small group of\ncompanies, of which Horizon Aircraft was one, to proceed with the conceptual\ndevelopment of a High-Speed VTOL (HSVTOL) aircraft. The initiative is supported\nby AFWERX, the Air Force\u2019s innovation hub, and US Special Operations Command\n(USSOCOM). The HSVTOL program aims to develop an aircraft that could conduct a\nrange of missions such as personnel infiltration and extraction, tactical\nmobility, and aeromedical evacuation. <\/p>\n\n\n\n

The HSVTOL initiative attracted proposals from over 200\ncompanies. These were narrowed down to 35 solutions of which 11 (that included\nthe Cavorite X-series VTOL aircraft) were ultimately selected for investment in\nPhase 1 of the program.<\/p>\n\n\n\n

Horizon\u2019s innovative approach and technology allows its\nCavorite X5 to fly 98% of its mission in a very low-drag configuration like a\ntraditional aircraft. Flying most of the time as a normal aircraft is also\nsafer and should make the aircraft easier to certify than radical new eVTOL\ndesigns. The full-scale aircraft will also be powered by a hybrid electric\nsystem that can recharge the battery array in-flight while providing additional\nsystem redundancy. Comprehensive testing of this 50%-scale aircraft will reduce\ntechnical risk moving forward as Horizon continues development of its\nfull-scale aircraft.<\/p>\n\n\n\n
Ranking <\/strong> <\/td>Ranking of which areas of the eVTOL market that will see the biggest growth over the next five years as selected by private<\/strong>
equity and venture capital professionals\u00c2\u00a0\u00c2\u00a0 \u00c2\u00a0<\/strong> <\/td><\/tr>
\n 1\n <\/td>\n Air\n passenger taxi\n <\/td><\/tr>
\n 2\n <\/td>\n Air\n ambulance  \n <\/td><\/tr>
\n 3\n <\/td>\n Cargo\n transport\n <\/td><\/tr>
\n 4\n <\/td>\n Fire\n service\n <\/td><\/tr>
\n 5\n <\/td>\n Military\n service \n <\/td><\/tr><\/tbody><\/table>\n","protected":false},"excerpt":{"rendered":"

Air passenger taxis, air ambulance and cargo transport are seen as the three areas of the eVTOL market that will see the biggest growth over the next five years. This is according to new research (1) from Horizon Aircraft (\u201cCompany\u201d or \u201cHorizon\u201d), an innovative leader in hybrid electric Vertical Take-off and Landing (VTOL) aerial vehicles, […]<\/p>\n","protected":false},"author":3,"featured_media":24596,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[140],"tags":[],"class_list":["post-24595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-evtol"],"jetpack_featured_media_url":"https:\/\/stateaviationjournal.com\/wp-content\/uploads\/Horizon-Cavorite-edit-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/24595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=24595"}],"version-history":[{"count":1,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/24595\/revisions"}],"predecessor-version":[{"id":24598,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/24595\/revisions\/24598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media\/24596"}],"wp:attachment":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=24595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=24595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=24595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}