Frost & Sullivan’s recent analysis, Evolution of 3rd, 4th, and 5th Dimensions of Travel, reveals that the transportation landscape across the globe should expect a revolution in the next decade with the evolution of 3rd, 4th, and 5th dimensions of travel.
According to the company, the arrival 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.
Joe Praveen Vijayakumar, Intelligent Mobility Analyst at Frost & Sullivan 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. Further, 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.”
Companies offering new modes of transport should focus on the following growth opportunities:
- According to the company, safety is the biggest concern for passengers who will embrace air taxi services in the future. The primary 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 involved in the solar energy sphere can collaborate with 4th dimension travel companies to help 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 closely with regulatory agencies, governments, and real estate companies to set up and operate spaceports in strategic locations.
Evolution of 3rd, 4th and 5th Dimensions of Travel is the latest addition to Frost & Sullivan’s Aerospace & Defense research and analyses available through the Frost & Sullivan Leadership Council.
For more information, visit: https://go.frost.com/LA_PR_AT_FValente_MF17_DimensionofTravel_May20
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