The Business Research Company’s report on the Urban Air Mobility Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the urban air mobility industry?
The rising investment in the urban air mobility market is expected to boost the demand of the market. There are many R and D investments in the urban air mobility industry, with many aerospace companies eyeing the urban air mobility market with high growth potential. For instance, in July 2022, according to a report published by the Department for Business, Energy & Industrial Strategy (BEIS), a Uk-based government agency, by 2030, under the assumption of a ‘best-case’ adoption scenario, drones could potentially contribute up to approximately $56 billion to the UK economy, with over 900,000 drones operating in UK airspace. Additionally, net cost savings of around $28 billion could be realized, and carbon emissions could be reduced by 2.4 million tons. Therefore, the rising investment in the urban air mobility market is expected to boost its demand.
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What is the estimated market size of the urban air mobility sector by 2029, based on current forecasts?
The urban air mobility market size has grown exponentially in recent years. It will grow from $4.31 billion in 2024 to $5.18 billion in 2025 at a compound annual growth rate (CAGR) of 20.3%. The growth in the historic period can be attributed to urban development and smart city initiatives, infrastructure modernization, demand for time-saving transportation, advancements in electric propulsion systems, rise of ride-sharing and mobility services.
The urban air mobility market size is expected to see rapid growth in the next few years. It will grow to $10.37 billion in 2029 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to data-driven operations and safety measures, investment and funding opportunities, public acceptance and perception, demand for aerial ride-sharing services, infrastructure development for vertiports. Major trends in the forecast period include popularity of e-VTOLs, air traffic management solutions, focus on noise reduction, integration of AI and automation, urban infrastructure adaptations, user experience and accessibility.
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Who are the top players in the urban air mobility market?
Major companies operating in the urban air mobility market include Hyundai Motor Co, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Honeywell International Inc., Safran SA, Textron Inc., Embraer SA, Bell Textron Inc., Volocopter GmbH, Wisk Aero LLC, Joby Aero Inc., Terra Drone Corp, Airspace Experience Technologies Inc., Jetson Electric Bikes LLC., Fortem Technologies Inc., Karem Aircraft Inc., Urban Aeronautics Ltd., SkyDrive Inc., Lilium GmbH, EHang Holdings Limited, Jaunt Air Mobility LLC, hopFlyt Inc., Archer Aviation Inc., Opener Inc., ElectraFly LLC.
What are the major trends in the urban air mobility market?
Major companies operating in the urban air mobility market are focused on developing innovative products such as vertiport management system to increase their profitability in the market. A Vertiport Management System (VMS) for Urban Air Mobility (UAM) is a comprehensive framework managing facilities dedicated to vertical takeoff and landing (VTOL) aircraft, including eVTOL vehicles and drones, incorporating infrastructure, technologies, and processes for efficient operation. For instance, in November 2023, ANRA Technologies, a US-based company offering complete solutions for drone operators and airspace management launched Vertiport Management System (VMS). The VMS, a flexible online platform, fills a crucial digital technology void in overseeing vertical takeoff and landing air mobility aircraft at vertiports. Its microservice structure accommodates diverse vertiport layouts, works with any aircraft, and links seamlessly with existing air traffic management systems. ANRA’s airspace management services enable UAM operators to efficiently manage their entire flight process with a comprehensive suite of tools. The VMS, through intelligent data exchange, plays a vital role in ensuring the secure arrival and departure of UAM aircraft.
Which geography holds the highest urban air mobility market share?
North America was the largest region in the urban air mobility market in 2024. Europe is expected to be the fastest growing region in the forecast period. The regions covered in the urban air mobility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the urban air mobility market?
The urban air mobility market covered in this report is segmented –
1) By Vehicle Type: Piloted, Autonomous
2) By Range: Intercity, Intracity
3) By End User: Ride Sharing Companies, Scheduled Operators, E-commerce Companies, Hospitals And Medical Agencies, Private Operators
Subsegments:
1) By Piloted: Manned Air Taxis, Air Ambulances
2) By Autonomous: Fully Autonomous Air Taxis, Delivery Drones
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What defines the structure and scope of the urban air mobility market?
Urban air mobility refers to the use of highly automated small aircraft to carry passengers or cargo at lower altitudes in suburban and urban areas, which have been developed in response to traffic congestion. It also refers to emerging and existing technologies such as traditional helicopters, vertical-takeoff-and-landing aircraft (VTOL), electrically propelled vertical-takeoff-and-landing aircraft (eVTOL), and unmanned aerial vehicles (UAVs).
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