Within just five years 10 companies will be manufacturing flying cars, a new report has predicted.

Frost & Sullivan, which released the findings ahead of its Intelligent Mobility event on the 29 June, said that companies from as far afield as the US, UK, Japan, Israel and Slovakia will be producing flying cars by 2022.

And by 2035 these vehicles could even be used as pay-per-ride air taxi services. Other uses predicted by the report include theme park rides, aerial sightseeing services, air surveillance, aerial aid deliveries and corporate leases.

“It will be interesting to see the first applications of flying vehicles. Although the ultimate goal of manufacturers is to address the issue of personal mobility, commercial applications are expected to commence through recreational activities in the form of what could be termed as a single-seater flying scooter,” said Sarwant Singh, senior partner at Frost & Sullivan.

“From flying vehicle rides in amusement parks, aerial sightseeing of landmarks, to a star attraction at events, the recreational potential of flying vehicles is limitless.”

Several of the companies identified by the report have completed at least one test flight using their prototypes, while Netherlands-based PAL-V has gone a step further and initiated the pre-sales of its Liberty Pioneer flying car, which the company aims to deliver by the end of 2018.

“The key to achieving mass commercialisation of flying cars and attracting more buyers will depend on increased safety features, optimal regulations, and affordable prices,” the Frost & Sullivan report states.