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Hyundai lays out USD1.5 trillion sky-high future for electric flying vehicles

By Chris Stonor

Speaking at the fifth Mobility Innovators Forum held last week, Shin Jaiwon, Hyundai Motor Group’s Executive Vice-President and Head of the newly established Urban Air Mobility division, said the electric flying vehicle market could be worth USD1.5 trillion within 20 years, reports metalbulletin.com.

He commented, “Urban air mobility vehicles, such as vertical take-off and landing craft, [will] provide safe, quiet and affordable transportation in the open skies above cities, allowing point-to-point travel that will reduce travel time by two-to-three times by skipping ground congestion.” Jaiwon continued, “This will allow travellers to fly when they want to, unlike today where travellers have to adjust their lifestyles according to airline schedules.”

Around 200 urban air mobility concepts are already in the market-place, created by both leading manufacturers and start-ups. He added, “This mirrors the level of interest [in] the early days of aviation 100 years ago.”

Jaiwin explained he expects all-electric urban air vehicles to provide affordable mobility to the masses, while small and large unmanned aerial systems will cater to commercial uses such as transporting goods. Large aircraft will still service long-distance travel. He pointed out this would “free up facilities and land currently being used for ground transportation and parking facilities to be used for parks, museums and performing centres.”

However, Jaiwin accepted that some difficult challenges still remained before there could be a large-scale deployment of urban air vehicles.

He explained, “Technical challenges such as autonomous flight, affordability and noise remain factors, as well as policy and regulations such as safety standards and certification methods.” Adding that air traffic management and infrastructure, such as skyports and charging stations, “were critical challenges still to be addressed.”

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(News Source: https://www.metalbulletin.com)

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