After years of great promise, the air taxi industry is now poised to deliver innovative transportation options to American consumers, as the Federal Aviation Administration (FAA) has officially recognized this new category of aircraft. However, the futuristic urban metropolises depicted in so many films of the past have yet to materialize because, despite the impressive development of aircraft in recent years, progress in many parts of the world has been hampered by regulatory delays.

Last October, the FAA announced that it officially recognize air taxis as a new category of aircraft. This is the first time in about eight decades that a new category has been added. The FAA also finalized pilot training and certification rules for air taxis. The organization said in a statement, it is “the final key step necessary for them to fly safely.”

FAA Administrator Mike Whitaker recently wrote in a blog post, when air taxis enter service, “they will be the first entirely new category of aircraft introduced to civilian operations since helicopters in the 1940s.” This shows how far air travel has progressed in recent years, after years of modernizing existing planes rather than innovating new types of planes.

Air taxis are electric vertical take-off and landing (eVTOL) aircraft, which are small electric vehicles that can take off and land vertically, without the need for a runway. Unlike a helicopter, which uses a single large rotor, air taxis are designed to use multiple smaller rotors to fly, making them quieter and more compact. This should give them better access to residential areas that helicopters cannot normally enter.

On 150 companies have developed the air taxi technology on a global scale for about a decade. Most agree that the design of the plane will resemble a drone. California-based company Joby Aviation designed its air taxi with six electric motors equipped with propellers to lift the vehicle. The propellers can tilt, allowing the craft to maneuver in tight spaces and reach up to 200 mph. The aircraft covers a range of up to 100 miles between charges, can fly at a height greater than 10,000 feet above sea level and can carry up to four people, including the pilot. Initially, air taxis will be operated by a pilot. However, most companies aim to achieve autonomous flight capabilities in the future.

Joby launched a test flight in New York in 2023, signed a $131 million contract with the Air Force and is expected to launch a ride-sharing service in the United Arab Emirates by 2026. However, Companies hoping to launch air taxi services in the United States have been waiting for the FAA to make that possible. There have been delays in launching trials of the technology in other parts of the world due to regulatory delays. For example, German air taxi developer Volocopter, intended to fly his plane at the 2024 Paris Olympics, but abandoned its plans due to certification delays with the European Aviation Safety Agency. Joby hopes to do what Volocopter couldn’t and fly its air taxis at the 2028 Los Angeles Olympics.

Several other countries are optimistic about launching air taxi services in the coming years. The UK Department for Transport recently published its Future of Flight action plan, which outlines the aim of having the first eVTOL taxis over London within around two years.

Although there is excitement about the potential launch of air taxis in major cities around the world, some airlines are struggling. German aerospace startup Lilium would be on the verge of insolvency if it fails to secure funding from the Bavarian state government. The company was once considered the most advanced eVTOL company in Europe, but money problems have hampered progress. Lilium previously applied for $54 million in loans from the federal government, which was rejected by lawmakers. The move has been criticized by those who see the deployment of electric planes as essential to meeting decarbonization goals.

Last October, Joby of California announced a public offering of common stock, hoping to raise $202 million. If achieved, the funding will be used for its “certification and manufacturing efforts, to prepare business operations and for general work capacity and other general company processes,” the company said. declared in a regulatory file. The price per share is $5.05.

Joby recently attracted $500 million in investment from Toyota, bringing the Japanese automaker’s total investment to $894 million. The two companies work collaboratively in California, where Toyota shares its expertise and experience with the startup to support aircraft development. Joby and Toyota signed a long-term agreement last year for Toyota to supply vital powertrain and actuation components for Joby’s eVTOL.

While some companies struggle to raise the funds needed to bring their planes to fruition, facing complex regulatory structures, others are moving quickly and plan to launch their first flying taxi trials this decade. Thanks to advances in regulatory structures in the United States, we could see air taxis coming to New York and other cities in the near future, with trials in major cities in other countries expected soon after.

By Felicity Bradstock for Oilprice.com

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