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A vertical take-off and landing (VTOL) aircraft is a vehicle that can depart, hover, and land vertically. A Morgan Stanley research study projects the autonomous urban aircraft market will be worth $1.5T by 2040. Another study by Frost & Sullivan revealed that, starting in 2022, air taxis will experience a compound annual growth rate of 46% that will result in more than 430,000 units in use by 2040. The main factors accelerating this trend are the advancement of self-driving technology combined with more efficient batteries and sophisticated manufacturing strategies.
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