Hyundai has launched a new air mobility division aimed at developing technology for the commercialization of flying cars, the latest company to dive into the emerging industry.
The urban air sector is expected to grow into a market worth $1.5 trillion within the next 20 years, according to Hyundai. However there are many others pursuing various kinds of air taxis, including Uber, Kitty Hawk, Terrafugia and Volocopter, to name a few.
These companies including Hyundai, see the flying cars as a way to solve the traffic problems on the ground. Flying cars could merely move that congestion to the skies, which is why technologies around airspace traffic management is just as important as developing the aircraft.