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Urban Air Mobility (UAM) refers to the emerging aviation concept that aims to revolutionize transportation in urban areas by introducing aerial mobility solutions. Air Mobility as a Service (AMaaS) refers to a comprehensive platform or system that provides convenient, on-demand access to various airline transportation options. Air Mobility as a Service (AMaaS) seeks to revolutionize urban transportation by offering alternatives to traditional ground-based commuting, potentially reducing congestion, improving accessibility, and enhancing overall travel experiences. In 2017, the US held the largest market share, projecting an annual revenue of USD 0.35 billion. The market forecast offers extensive research analysis on the Urban Air Mobility Market, with a categorization based on Type, including Autonomous and Piloted. It further segments the market by Application, encompassing based upon mode of transport Delivery and Passenger mobility. Additionally, the report provides geographical segmentation, covering North America, Europe, APAC, Middle East and Africa, and South America.
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The increasing use of eVTOL aircraft in military applications is notably driving market growth. Urban air mobility, perceived as an upcoming solution for affordable and sustainable travel, aims to combat congestion and environmental concerns in modern cities. The development of this industry is witnessing substantial traction, with over 120 startups and aerospace firms investing in electric vertical takeoff and landing (eVTOL) aircraft, envisioning their potential in urban air mobility.
The advantages of electric vertical takeoff and landing (eVTOL) aircraft extend beyond civilian use, finding relevance in military applications. Considering global geopolitical scenarios, such as the ongoing conflict in Ukraine and fuel shortages, the utilization of eVTOL technology in military defense showcases promise. Continuous advancements in battery technology further enhance the potential of electric vertical takeoff and landing (eVTOL) aircraft, reshaping the landscape of defensive capabilities. Thus, the above-mentioned factors will boost the growth of the global UAM market growth and trends during the forecast period.
The autonomous segment was valued at USD 741.48 million in 2017 and continued to grow until 2021. The concept of self-driving/autonomous urban air mobility, particularly Autonomous Air Taxis, is in its nascent developmental phase. Its widespread adoption is contingent upon surmounting technical and regulatory obstacles. Nevertheless, the market for autonomous aircraft is poised for growth, fostering opportunities for investors and catalyzing benefits across various sectors, thereby propelling the demand for urban air mobility in the forecast period.
The autonomous air taxis market refers to the sector involved in the development, production, and deployment of aerial vehicles designed for autonomous flight, primarily targeting urban air mobility solutions. Electric vertical takeoff and landing (eVTOL) aircraft are envisioned to operate autonomously, enabling short-haul air transportation within cities or urban areas. The growth of the autonomous air taxis market is subject to overcoming the technical charging station, regulatory and infrastructure complexity.
Urban Air Mobility (UAM) hold immense promise as Aircraft flight control system technological advancements continue to reshape the landscape. The convergence of groundbreaking innovations in aerodynamics, automation, and avionics is spearheading the evolution of air transportation. UAM, inclusive of concepts like air taxi , air assaults and electric aircraft, signifies a paradigm shift toward sustainable transportation solutions in bustling urban centers plagued by air pollution and increasing climate change concerns.
Recent strides in Bioinformatics and biomaterial pave the way for lightweight, resilient aircraft components, catalyzing the quest for increased Power Density and extended Flight Length. As UAM increasingly focuses on sustainable solutions, manufacturers delve into cutting-edge Carbon-neutral technologies, aligning with global efforts to mitigate Noise Pollution and Carbon emissions associated with traditional transportation. The integration of sophisticated software and dashboard analytics transforms UAM operations, offering streamlined insights into logistics and supply chain management. These advancements, coupled with database driven solutions, empower UAM companies to optimize pricing strategies and customer experiences.
Collaborations between UAM entities and ridesharing company envision a future where Ambulances equipped with cutting-edge Healthcare technologies operate aerially, promising swift emergency responses and improved urban planning for land transport.
North America is estimated to contribute 48% to the growth of the global market during the forecast period. The urban air mobility market in North America is expected to grow steadily during the forecast period, primarily because of the growth of e-retailing, the focus on segment-specific service offerings, and the adoption of the premium delivery service model. The growing network of last-mile connectivity options is also a factor driving the use of urban air mobility services in North America.
The demand for last-mile delivery services is driven by online purchases that are usually delivered to customers' doorsteps. Purchases that are delivered using last-mile delivery services are increasingly preferred to physical shopping by many people due to the convenience and time-saving benefits. Many traditional retailers are also switching to the last-mile delivery model to gain accessibility to cater to consumers in different geographical regions. These factors have led to a direct increase in the demand for last-mile delivery services.
Countries like Japan, Korea, India, Southern United States, United Kingdom, Mexico, Switzerland, Asia and Brazil have demonstrated heightened interest in UAM, fostering an environment for collaboration among government bodies, industry leaders such as vertical aerospace and beta technologies, and biotechnology experts to drive Research and Development initiatives. This collaboration aims to address challenges related to regulation, safety standards, and airspace management.
The integration of Electric vehicles, particularly electricity generation and hybrid electric vehicle and electric motor fueled by advancements in battery technology and renewable energy, presents a significant avenue for the UAM market's expansion. Furthermore, the advent of cutting-edge technologies like the Internet of Things (IoT) and cloud computing enhances communication and data management in UAM infrastructure, optimizing operations and safety protocols. The Electric Vehicle (EV) landscape is reshaping the UAM market, offering a gateway to bolster efficiency and foster sustainable economic growth in transportation. The integration of electric motors within emergency vehicle signifies a transformative shift towards environmentally conscious solutions in emergency response. Moreover, the emphasis on Energy Management within the UAM sector, especially in collaboration with egineer companies like Eve Air Mobility, epitomizes a commitment to efficient resource utilization.
The implementation of high-speed rail and smart charging infrastructure complements UAM, offering holistic transportation solutions within sustainable Cities. Moreover, collaborations with companies like hyundai motor company and initiatives promoting hydrogen and renewable energy facilitate a robust supply chain for UAM. Renewable Energy sources within the UAM) market signal a transformative shift away from reliance on solar power, fossil fuel and traditional Internal combustion engine. Countries like France are leading the charge in promoting sustainable aviation through the utilization of fuel cell and innovative propulsion systems. The introduction of renewable energy technologies in the UAM sector fosters a paradigm shift, addressing concerns over greenhouse gas emissions and advancing the cause of health care through reduced air pollution.
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The Urban Air Mobility Market is fragmented in nature. Some significant players include Airbus SE, Archer Aviation Inc., Bartini Inc., EHang Holdings Ltd., and Embraer SA.
Airbus UAM : The company offers urban air mobility such as CityAirbus NextGen.Airbus UAM refers to Airbus' initiatives and projects in the realm of aerial urban transportation. Airbus UAM focuses on leveraging advanced technologies to create and deploy aerial mobility solutions for urban environments. Through Airbus UAM initiatives, the company aims to revolutionize urban transportation by providing safe, efficient, and environmentally friendly aerial mobility options, contributing to the transformation of how people move within cities.
The market research and growth report also includes detailed analyses of the quantitative research, secondary research and competitive landscape of the market and information about 15 market companies, including:
Target Corporation , Geely Auto Group, Joby Aviation Inc., Kitty Hawk Corp., Lilium GmbH, Lockheed Martin Corp., Moller International, Moog Inc., Raytheon Technologies Corp., The Boeing Co., Volocopter GmbH, Wingcopter GmbH, Wisk Aero LLC, Workhorse Group Inc., and Textron Inc.,Gesellschaft mit beschränkter Haftung
Air Traffic Management (ATM) for Urban Air Mobility (UAM) is a critical aspect of ensuring the safe and efficient operation of aerial vehicles in urban environments. As the Global Urban Air Mobility Market expands, the growth of ATM solutions tailored for UAM is becoming increasingly significant.The growth of the Global Urban Air Mobility Market is primarily driven by several key factors increasing population density in urban areas leads to higher demand for efficient transportation solutions, prompting the exploration of aerial mobility options to alleviate congestion. Additionally, governments and regulatory bodies are increasingly recognizing the potential of air traffic management for UAM.
As the UAM market continues to mature and gain momentum, investments and developments in air traffic management for UAM will be crucial in enabling the seamless integration of aerial vehicles into urban airspace.
The urban air mobility market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Urban Air Mobility Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 27.5% |
Market growth 2023-2027 |
USD 5.28 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
23.78 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 48% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airbus SE, Archer Aviation Inc., Bartini Inc., EHang Holdings Ltd., Embraer SA, Geely Auto Group, Honeywell International Inc., Joby Aviation Inc., Kitty Hawk Corp., Lilium GmbH, Lockheed Martin Corp., Moller International, Moog Inc., Raytheon Technologies Corp., The Boeing Co., Volocopter GmbH, Wingcopter GmbH, Wisk Aero LLC, Workhorse Group Inc., and Textron Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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