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The Hoverbike Product’s SWOT Analysis Essay


Strengths

Hoverbike is an innovative product with a great potential and has impressed scientists and customers. The development was funded by people who were interested in this concept on Kickstarter website. One of the most significant factors that should be considered is that it is cheaper than other similar products. It can be used for research or inspection (Hover-bike.com par. 2). Also, it could be used instead of helicopters in some situations, and it is cheaper to operate (Anthony par. 6). The fact that it can lift significant weight is also quite impressive. Such functions as autopilot also have enormous potential and increase the amount of possible applications (Gadgets-ntech.com par. 3). The possibility to operate it from the distance is significant strength. It is also incredibly safe because its design is not as complicated as the design of helicopters.

Weaknesses

It should be said that this product has a few weaknesses. U.S. Army will be able to use it efficiently. However, there most likely will be issues with the commercial version. A pilot’s license to use it will be required, and it will be hard to obtain for most customers (Turk par. 6). Professionals will need additional training to operate this vehicle because of the way it functions, and it is definitely a disadvantage. Also, there may be issues with standard parts, and it will be hard to find them. Repair costs also should be significant. Also, it should be said that the price of a commercial version is expected to be rather high and not that affordable (Tilgham par. 11). Overall, this is not a product that is going to be produced in large amounts anytime soon.

Opportunities

Numerous opportunities are available for this product. The potential is simply immense, and it can be used for a broad range of operations. The use of this product may also be offered to health care system and news industry. There could be many applications that have not been discovered yet. It is also interesting that such technologies as Wi-fi and GPS may also be implemented. Geolocation services may also play a significant role. A use of an operating system such as Windows may also be considered. There are not many similar products, and it is at the further stage of development than those of competitors. It may also become much more affordable for most customers in the future. Overall, there are many possibilities and opportunities for this product.

Threats

Currently, numerous threats may affect this product. The fact that some prototypes that are developed by other companies are quite similar to this one is a problem (Koch par. 11). A possibility that new technologies will be discovered should always be considered. It will take a long time to start the production of Hoverbikes, and competitors may appear. It is necessary to keep track of trends in the industry and make modifications to the product to make sure it stays up-to-date. New technologies that appear should be implemented if it is possible and reasonable. Government regulations may also cause some significant problems, and license requirements are also an issue. Overall, this market is not that stable, and it is hard to predict possible trends. Nevertheless, this product is innovative and has numerous advantages over competitors, and it should be able to resist expected threats.

Works Cited

Anthony, Sebastian. . 2015. Web.

Gadgets-ntech.com. MA Hoverbike is Here. 2015. Web.

Hover-bike.com. . n.d. Web.

Koch, Wendy. Could Flying Bikes, Cars Be Next? Toyota and U.S. Army Explore. 2015.

Tilgham, Andrew. “Hoverbike Could Join the Fleet in 3 to 5 Years.” Millitary Times. Millitary Times. 2015.

Turk, Victoria. . 2014. Web.

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IvyPanda. (2020, June 12). The Hoverbike Product's SWOT Analysis. Retrieved from https://ivypanda.com/essays/the-hoverbike-products-swot-analysis/

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"The Hoverbike Product's SWOT Analysis." IvyPanda, 12 June 2020, ivypanda.com/essays/the-hoverbike-products-swot-analysis/.

1. IvyPanda. "The Hoverbike Product's SWOT Analysis." June 12, 2020. https://ivypanda.com/essays/the-hoverbike-products-swot-analysis/.


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IvyPanda. "The Hoverbike Product's SWOT Analysis." June 12, 2020. https://ivypanda.com/essays/the-hoverbike-products-swot-analysis/.

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IvyPanda. 2020. "The Hoverbike Product's SWOT Analysis." June 12, 2020. https://ivypanda.com/essays/the-hoverbike-products-swot-analysis/.

References

IvyPanda. (2020) 'The Hoverbike Product's SWOT Analysis'. 12 June.

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