Urban Air Mobility Market

Market Overview

Urban air mobility is also known as advanced air mobility it is a newly developed concept that envisages an accessible, economical, safe and sustainable air transport system for cargo transport for emergency management and the movement of people around cities. UAM is part of an on-demand mobility ecosystem that enables consumers to access mobility and goods by ordering or using urban air services, courier services, ride-sharing, shared public transportation and other new transportation technologies.  This can also ease the pain of many structures that are under constant stress such as those in cities with rapidly growing populations cities such as singapore, dubai, dallas and los angeles have been experimenting with urban air mobility projects for some time. This includes the use of electric air and landing vehicles which are designed to operate in urban areas and take off and land vertically from low and high landing pads for inside or helipads. Urban air travel promises to revolutionize urban transport by providing a faster, more efficient and more environmentally friendly alternative to ground transport.

Urban Air Mobility Market Size

Report	Details
Market Size Value	USD 3.40 Billion in 2023
Market Size Value	USD 43.52 Billion by 2032
CAGR	23.8%
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020
Segments Covered	MobilityType, Range, Platform Operation, Platform Architecture, End-User
Geographics Covered	North America, Europe, Asia Pacific, and RoW

Major vendors in the global urban air mobility market are Ehang, Lilium Gmbh, Airbus, Wisk Aero, Bell Textron, Volocopter GmbH, Workhorse Group, Joby Aviation, Kitty Hawk, Archer Aviation and Others.

Fast and efficient transport is required

Urban air mobility gives an elegant solution using aerospace and the ability to take off and land to provide on-demand aviation services the demand for UAM comes from individuals and businesses looking for improved mobility. The entrepreneurs are looking for faster and better ways to navigate cities while businesses need good logistics solutions to move quickly and reliably. The UAM responds to this need by providing direct and fast connections between urban areas by avoiding infrastructure limitations. UAM vehicles such as electric trams or flying taxis can transport passengers and cargo directly to their destination by reducing travel times compared to ground vehicles. This flexibility allows the UAM to cross points in existing transport networks and reach areas that cannot be accessed by land infrastructure also simple things are important to run the UAM application. The ability to order UAM vehicles on demand and the convenience of moving from one location to another will provide a powerful opportunity for traditional transportation. The integration of digital platforms and applications improves the user experience by allowing people to book and track their UAM flights. The demand for mobility solutions extends to specific use cases such as emergency medical services, where UAM can quickly and efficiently transport medical personnel and equipment to remote and congested areas.

Market Dynamics

Drivers:

• Fast and efficient transport is required
• Increase in urbanization of all region
• Increase in population growth

Opportunities:

• The need for sustainable development
• Promote personal transportation
• Change in cargo delivery service

The need for sustainable development

Urban air mobility aircraft use electrical systems to reduce dependence on fossil fuels and reduce greenhouse gas emissions by switching from traditional combustion engines to electricity UAM contributes to global efforts to combat climate change and achieve carbon reduction targets in the transport sector. The UAM also offers the possibility of optimizing urban infrastructure and reducing the need to expand the transnational network UAM uses three-dimensional airspace to maximize the use of existing infrastructure and reduce the need for new roads and parking lots this approach helps preserve land and valuable resources while reducing the environmental impacts associated with expanding ground transportation infrastructure the noise reduction is another important area that UAM focuses on and electric aircraft are less noisy than helicopters and airplanes. The adoption of UAM can reduce noise pollution in cities by making cities more livable and sustainable. The development of quieter production systems and the implementation of noise reduction measures will increase the profile of UAM.

The market for urban air mobility is dominated by North America.

North America is expected to register the highest regional growth during the forecast period by owing to technological advancements and investments in the UAM industry. The main countries considered in this area are the U.S. and Canada the main factor driving North America to drive the UAM market is the high demand for new types of vehicles in the region by increasing demand for commercial aircraft and increasing utility in the private sector to perform transportation and logistics functions are additional factors impacting the growth of the North American UAM market.

Europe is the fastest growing market with the highest CAGR during 2023-2032. This is due to large investments by Germany and France in acquiring eVTOL technology for commercial use another reason for the strong development of the market in this region is the strength of the manufacturing activities of the European UAM companies by the world and the growing automation techniques.

The air taxi segment is anticipated to hold the largest market share during the forecast period

The air taxi segment is expected to be the largest segment due to the demand is due to the rapid advancement of technology such as prototype manufacturing by a combination of technologies including highly efficient batteries, smart manufacturing processes and autonomous vehicles such as self-driving cars are expected to drive the growth of the segment during the forecast period.

The intercity segment of the global market is expected to witness the highest CAGR growth due to technological advancements that have facilitated the movement of urban air this flight cuts the travel time between the two cities in half these planes are the only high-speed transport that does not require a large structure these trends will increase or increase the demand for intercity flights, thereby accelerating the growth of the market segment during the analysis period.

Major Segmentations Are Distributed as follows:

• By Vehicle Type:
  • Air Metro
  • Air Ambulance
  • Air Taxi
  • Last Mile Delivery
  • Others
• By Range:
  • Intercity
  • Intracity
• By Operation:
  • Autonomous
  • Piloted
  • Hybrid
• By End-User:
  • Scheduled Operators
  • E-Commerce Companies
  • Ride Sharing Companies
  • Hospitals and Medical Agencies
• By Region
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • Rest of Europe
  • Asia Pacific

• • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Rest of Asia Pacific

• • Middle East & Africa

• • Saudi Arabia
  • UAE
  • South Africa
  • Nigeria
  • Rest of MEA

 Recent Developments

• January 2023, Geely aerofugia a subsidiary of Chinese manufacturer Geely has announced that it has completed test flights for its prototype aircraft the AE200. This brings us closer to our goal of bringing Electric Vehicles and Landing Vehicles (eVTOLs) to market.
• March 2024, Electron Aerospace has unveiled its new design for a five-seater electric plane. The company intends to begin production and testing and delivery by the end of 2030. The aircraft will feature battery technology and is expected to have a range of 500 kilometers.
• February 2022, Eve UAM LLC has signed a cooperation agreement with SkyportsPte Ltd to develop a new operating concept (CONOPS) for AAM (including UAM) for the Japan Civil Aviation Authority (JCAB). This project aims to provide an overview of airspace design, operations and infrastructure to enable AAM operations in Japan. The partnership includes partners such as Kanematsu Corporation and Japan Airlines (JAL).

Answers to Following Key Questions:

• What will be the urban air mobility market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the urban air mobility market?
• What are the main forces behind worldwide urban air mobility market? Which companies dominate urban air mobility market?
• Which companies dominate urban air mobility market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Insight Engines industry's suppliers' opportunities and dangers in urban air mobility market?
• What is the Insight Engines industry's regional sales, income, and pricing analysis? In the urban air mobility market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the urban air mobility market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for urban air mobility market?
• What are the dominant revenue-generating regions for urban air mobility market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main urban air mobility market trends that are influencing the market's expansion?
• Which key product categories dominate urban air mobility market? What is urban air mobility market’s main applications?
• In the coming years, which urban air mobility market technology will dominate the market?