Several companies, including Uber Elevate, Lilium, Kitty Hawk, and Volocopter have announced plans or started testing VTOL aircraft in some form. More traditional aeronautics names, such as Airbus and NASA, are also experimenting with VTOL technology. Some of these companies envision medium-range flights within a metropolitan area, while Lilium envisions longer ranges, such as London to Paris flights. Uber has publically stated that they plan to operate flying taxis by 2020, while Kitty Hawk has reached an agreement to test self-flying craft in New Zealand. Several of the companies are collaborating with traditional aircraft manufacturers, like Bell Helicopters.

Many companies envision fully-automated flight in the future, but most recognize that a human pilot is necessary in the craft or at a control center until automated systems are more advanced. However, some companies such as Lilium are designing their aircraft to fall within a less rigorous Sport Pilot license. The United States regulatory framework for prototype VTOL aircraft is unclear at this time; new rules will need to be developed especially as less human control and more automation is developed.

The VTOL crafts currently in development are mostly powered via electric motors and batteries, as opposed to traditional liquid fuel. Due to the limits of battery storage, they are being designed with lightweight materials.