According to Hyundai, the UAM sector is expected to grow to $1.5 trillion within the next 20 years. But Hyundai is far from the first to announce UAM plans. Uber is working on a flying taxi with Bell. Volocopter has an 18-rotor autonomous air taxi. Lilium's flying taxi may carry as many as five passengers, and Boeing and Kitty Hawk have teamed up on their own venture.

Still, Shin's experience working on the supersonic X-plane, electric aircraft, unmanned aircraft system (UAS) traffic management and UAM could give Hyundai an edge over its competition.