Reports And Data

Urban Air Mobility Market Size – USD 3.10 billion in 2023, Growth - CAGR of 25.9%, Trends –Demand for an alternative mode of transportation in urban mobility.

NEW YORK, NY, UNITED STATES, August 16, 2022 /EINPresswire.com/ -- Increasing requirements for an efficient mode of logistics & transportation is stimulating market growth. 

The urban air mobility market is estimated to reach USD 15.54 Billion from USD 3.10 Billion in 2023, delivering a CAGR of 25.9% through 2030. The market growth is driven by the mounting need for enhancing operational efficiency along with the reduction in human intervention for intracity and intercity transportation with eVTOLs.

Urban Air Mobility (UAM) is an emerging form of air transportation service (either unmanned or manned) in low-altitude airspace. The industry is still at a nascent stage and is estimated to experience the first ray of commercialization by the end of 2023.

Urban Air Mobility is a transportation model that offers the potential to reconstruct mobility systems. It proposes accessible, highly affordable, and fast urban air transit while reducing ground-based congestion by off-loading the existing roadways transportation infrastructure. 

Urban Air Mobility relies on emerging technologies like distributed electric propulsion, trends in advanced aerospace manufacturing for reducing production costs, and new business models like application-based ride-sharing.

The technological maturity of maneuverable, stable, vertical takeoff, and landing vehicle, along with highly automated flight, will bolster Urban Air Mobility market growth. Moreover, significant investments by the stakeholders in the air mobility sector will further supplement market revenue share over the forecast period.

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Further key findings from the report suggest

• Based on platform, the air metro segment is estimated may have a viable market in 2028, with a revenue generation of USD 0.9 billion in the first year. Estimates suggest that the number of vehicles would reach up to 23,000 in 2030 from 4,100 in 2028.
• The demand for air metros is likely to gain traction as it resembles the current public transit options like buses & subways with pre-determined routes, set stops in high traffic areas across each city, and regular schedules.
• The airport shuttle and air taxis segment is anticipated to contribute significantly to the Global Urban Air Mobility Market share with a total available market value of approximately USD 500 Billion at the market entry price points.
• In the United States, air taxis are estimated to have a potential demand of nearly 55,000 daily trips, which can be equivalent to the purpose served by 4,000 aircraft. The annual market value for air taxis is estimated to be around USD 2.5 Billion for the initial years of operation.
• On the basis of operations, the Urban Air Mobility market has been segmented into autonomous and piloted. The autonomous sub-segment is forecast to account for the majority of the market revenue share as autonomous eVTOLs are better suited for cargo and passenger transportation. It is highly likely that they will be increasingly used for intercity transportation. Autonomous eVTOLs are equipped with proven technology for human-free operations and high-quality sensors, hence are suitable for operations in urban areas.
• In the regional landscape, Europe is forecast to be a major regional ground for the urban air mobility market. The UAM initiative undertaken by the European Innovation Partnership on EIP-SCC (Smart Cities and Communities) has been taken into consideration by various European countries to explore the potential of drones in an urban context. Countries in this region, such as France and Germany, are investing heavily in procurement as well as the development of advanced eVTOL systems for commercial operations, which may supplement the Urban Air Mobility market revenue share through 2030.
• The Asia Pacific region is estimated to register the second-highest growth rate of 31.2% over the projected timeframe. The robust growth can be attributed to high investments made by several flying car companies, like Macchina Volantis, an Australian industry player is gearing up to build a prototype of its road-drivable 5-seat electric aircraft.
• Key players in the Global Urban Air Mobility Market are AIRSPACEX, CityAirbus (Airbus Helicopters), Airbus A3, Aurora Flight Sciences (A Boeing Company), Lilium Aviation, Bartini, Carter Aviation, Passenger Drone, Vimana, Joby Aviation, Volocopter, Workhorse, Kitty Hawk / Zee Aero, Terrafugia, AviaNovations, hopFlyt, Delorean Aerospace, Hoversurf, Japan Aerospace Exploration Agency, Jetpack Aviation, XTI Aircraft, Embraer, Pipistrel, and VerdeGo Aero.
• Eco Helicopters, an offshoot of charter company OC Helicopters, based in California, announced on 25th September 2020 the launch of its on-demand urban air mobility solution, EcoMax™, commencing operations in the second quarter of 2021. It will be utilizing zero-emissions, all-electric EcoMax™ helicopter for operations.

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This report forecasts volume and revenue growth at a global, regional, and country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2030. For the purpose of this study, Reports and Data has segmented the Global Urban Air Mobility Market on the basis of component, operation, range, and region:

Component Outlook (Revenue, USD Million; 2023-2030)

Infrastructure
o Charging Stations
o Vertiports
o Traffic Management
Platforms
o Air taxis
o Air Shuttles
o Air Metro
o Air Ambulance
o DroNav
o Personal Aerial Vehicle
o Cargo Aerial Vehicle

Operation Outlook (Revenue, USD Million; 2023-2030)

• Piloted
• Autonomous
• Hybrid

Range Outlook (Revenue, USD Million; 2023-2030)

• Intercity (100 Kilometers to 400 Kilometers)
• Intracity (20 Kilometers to 100 Kilometers)

Regional Outlook (Revenue, USD Million; 2023-2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Reports and Data
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