With the swift urbanization, globally, the requirement for quick as well as efficient modes of transportation is increasing day-by-day. Going by the promise of hyperloop train manufacturers to achieve a speed up to 800-mile-per-hour through transportation tube concept, introduced first in 2013, hyperloop train may be the answer to the augmenting travel demands in the near future.
Hyperloop Transportation Technologies has been working on developing this concept for the last few years. The shares of hyperloop high-speed transportation system are available in AECOM for trading. Owing to the never ending demand for travel and transportation across developed, as well as developing economies, a number of investors are coming forward to make the concept of hyperloop train a reality in the coming years. As a result, the global market for hyperloop train is projected to witness a substantial expansion over the next few years.
Increasing Government Support to Boost Global Hyperloop Train Market
The augmenting support from various governments across the world is driving the global market for hyperloop train significantly. For example, Slovakia has recently entered into an agreement with Hyperloop Transportation Technologies to construct and realize the concept in Europe, wherein the company will work to connect Budapest in Hungary and Vienna in Austria with the capital city of Bratislava. If everything goes as per the plan, the travel time of Vienna to Bratislava would be 8 minutes only while one can reach Bratislava from Budapest in just 10 minutes. Currently these two journeys consume 1 hour and 2 hours, respectively, in a car. This significant time-saving is anticipated to prompt various other countries across the world to invest in this concept, thereby propelling the global market for hyperloop trains in the near future.
First Hyperloop Train may Run in India
The developed markets of North America and Europe are reporting the most of the demand for hyperloop trains as the financial assistance needed for this concept to materialize is significantly high. Though the countries in the Middle East are also working consistently to improve their infrastructure and are projected to invest heavily, as well as allocate lands for hyperloop train in the near future. As of now, the first hyperloop train is expected to run in India, making Asia Pacific the first region to adopt hyperloop transpiration.
Currently, Hyperloop Transportation Technologies is the only firm working on the concept of hyperloop trains. However, several other technology and construction enterprises are likely to foray into this industry over the next few years. Bibop Gresta, the co-founder and COO of Hyperloop Transportation Technologies, stated that a number of countries in the Middle East and Asia are also ready to announce the uptake of hyperloop trains in the next few months.