I would rather see a successful non-folding airless tire before trying this route. Perhaps it needs sew-up tires.

Bob is exactly right. This wheel probably has immediate opportunities in the wheel chair business, as various airless tires are acceptable for wheel chairs. The bicycle industry has failed to embrace plastic tires and foam tubes as solutions though many have been offered. Each has suffered from various problems such as flatting in hot weather, broken beads, etc. The wheel can only be a game changer for folding bikes if the tire issue is overcome.

US Army Airborne and Rangers can use this to make a folding trail bike.

How it looks when it's folded is largely irrelevent. What matters is the volume it takes up, and the shape of the envelope. The folded wheel seems actually to take up a larger volume than the deployed wheel.
Why on earth is he filmed carrying a single wheel onto a train? What possible use is a single wheel? Why does he have one sitting like an artwork on his table? Did he clean the dog poop off the tire first?
As Bob Stuart's comment implies the real challenge with folding large wheels is the tire. No mention of any innovation or development in that regard from this designer.
I was excited to read this headline, and hope to see a folding large wheel breakthrough in the future but sadly I think this one falls short. Maybe a job for an engineer rather than a designer?

A touch of genius! However, how the folding mechanisms will stand up the the water, mud and grime from road use, or off road use, will be the real test of its worth. There's a long road from invention, to acceptance, manufacture, and sales, especially in Europe, also, a patent is only as good as the money in hand to protect it, as many inventors have found. Good luck with it, whatever.

That's using his noggin for sure. Not sure what the video was trying to convey with him just carrying around 1 wheel. I'd have been really impressed if that was the entire bike he was toting, but alas it was just a wheel.

I have the same concerns as Maximilian. It looks like it changes shape from a pancake to a keg. I wonder about the amount of real space saved. A wheelchair is made to fold and as a result gets pretty skinny. That won't happen with two kegs attached, unless they are detached first. I believe a bike would need to detach the kegs..er...wheels as well for transport. While this is an interesting design, much like a Hoberman sphere it doesn't seem too practical other than as a conversation piece.

Invention, or reinvention?

DID I MISS SOMETHING ??? I don't recall seeing it actually open & close... Do you ? closed yes / open yes - in process of opening & closing ? did I blink ? Something ain't kosher !

Yes, K., you missed the video, which is the only place the wheel is ever shown in transition and then only twice, very quickly. It seems apparent that this wheel only transforms after it is detached from its bike or wheelchair or whatever, which causes his claim that this product will be attractive to people who don't want to store "ugly" bikes in their apartments a bit problematic -- do people really want to assemble and disassemble their bikes or wheelchairs just to be able to transform a wheel into a slightly more awkward keg? This seems to be an engineering solution looking for a problem.