Transportation to be revolutionized over next decade: Frost & Sullivan
Hyperloop, air taxis, and suborbital rockets could enable a traveler to reach any location on earth in 60 minutes.
SANTA CLARA, Calif. — Frost & Sullivan’s recent analysis, Evolution of 3rd, 4th and 5th Dimensions of Travel, reveals that the transportation landscape across the globe will experience a revolution in the next decade.
The advent of new modes of public transportation will lead to new transportation business models across all three dimensions of travel such as air taxis and hoverbikes in the 3rd; Hyperloop and Maglev trains in the 4th; and suborbital, orbital, and deep space travel in the 5th dimension.
“These new modes of transport promise to address the issues associated with the current travel modes—longer commute time, carbon emission, accidents, and traffic congestion—and revolutionize the way people commute,” said Joe Praveen Vijayakumar, intelligent mobility analyst at Frost & Sullivan, in a prepared statement.
“Additionally, a combination of Hyperloop, air taxis, and suborbital rocket could enable a traveler to reach any location on earth in 60 minutes. Suborbital travel is expected to become widely commercialized, mainly because of the short flight duration, relatively low cost and a whole host of applications including zero-gravity weddings and photoshoots.”
He said regulations, infrastructure, and technology required for mass commercialization of new modes of travel are still in nascent stages and are expected to become mature and standardized by 2050.
Maglev, Hyperloop, and air taxis are expected to be affordable inter- and intra-city modes of transportation in the future, whereas space-based travel modes are expected to be premium priced and aimed at the ultra-rich initially, he said.
Companies offering new modes of transport should focus on the following growth opportunities:
- Safety is the biggest concern for passengers who will embrace air taxi services in the future. The objective of companies offering new modes of transport should be to invest in technologies that will ensure the safety and comfort of passengers.
- An intelligent and efficient unmanned traffic management system is required for large-scale adoption of air taxis. Organizations should invest in and collaborate with start-ups developing UTM systems.
- Solar power is expected to be used for 4th dimension modes of travel such as Hyperloop. Market participants in the solar energy sphere can collaborate with 4th dimension travel companies to build solar capabilities.
- As 5th dimension travel is commercialized and gains popularity, there will be increased demand for spaceports to launch rockets. Companies engaged in space tourism can work with regulatory agencies, governments, and real estate companies to set up and operate spaceports.