The global urban air mobility market accounted for 5.9 billion in 2020 and is estimated to be US$ 61.1 billion by 2029 and is anticipated to register a CAGR of 11.9%.
The report “Global Urban Air Mobility Market, By Aircraft Type (Rotor Wing, Fixed Wing, and Hybrid Wing), By Infrastructure (Vertiports, Charging Stations, and Traffic Management Systems), By Operation (Piloted and Autonomous), By Travel Range (Intercity and Intracity), By Application (Air Taxi, Air Ambulance, Airport Shuttle, Last Mile Delivery, Personal Air Vehicle, and Air Metro), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
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In October 2020, Helicopter manufacturer Leonardo and air navigation service provider ENAV have signed a Letter of Intent (LoI) in Italy primarily aimed at modernising and making safer, efficient and sustainable the use of helicopters and airspace leveraging the most advanced navigation technologies and paving the way for urban air mobility operations.
Need for faster and cleaner urban transportation is driving investments in the market
Rising demand for UAVs in civil and commercial applications and increasing need for efficient transportation. Urban air mobility provides safe and efficient transportation using piloted and autonomous aircraft for intracity and intercity commutation. Huge investments from aircraft manufacturers, infrastructure providers, and airspace integration researchers have been made for urban air mobility operations, alongside other operations in the airspace. The urban air mobility is expected to be used for several operations, such as humanitarian missions, weather monitoring, ground traffic assessment, emergency medical evacuations, news gathering, package delivery, rescue operations, and passenger transport. The growing human intervention for intercity and intracity transportation using eVTOL and growing smart city investments for urban air mobility are expected to create a significant opportunity in the global urban air mobility market.
Urban air mobility market thrives on growing road traffic congestion
The emergence of More Electric Aircraft (MEA), increasing demand for eVTOL aircraft in commercial applications, on-demand urban air transportation, the growing importance of VTOL aircraft in cargo transportation, and increasing usage in humanitarian relief operations are some of the opportunities for the growth of the global urban air mobility market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Urban Air Mobility Market”, By Aircraft Type (Rotor Wing, Fixed Wing, and Hybrid Wing), By Infrastructure (Vertiports, Charging Stations, and Traffic Management Systems), By Operation (Piloted, and Autonomous), By Travel Range (Intercity, and Intracity), By Application (Air Taxi, Air Ambulance, Airport Shuttle, Last Mile Delivery, Personal Air Vehicle, and Air Metro), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global urban air mobility market accounted for 5.9 billion in 2020 and is estimated to be US$ 61.1 billion by 2029 and is anticipated to register a CAGR of 11.9%. The market report has been segmented on the basis of aircraft type, infrastructure, operation, travel range, application, and region.
Depending upon aircraft type, the aircraft type segment is projected to grow at highest CAGR over the forecast period. Many organizations and manufacturers are putting efforts in electric VTOL aircraft to enhance the growth in longer flights and target cost effectiveness. Aurora flight sciences and joby aviation are developing their all electric fixed-wing VTOL aircraft prototype for managing costs.
In terms of infrastructure, vertiports segment is projected to register highest share of the market in 2019 owing to developments in humanitarian missions, weather monitoring, ground traffic assessment, emergency medical evacuations, news gathering, package delivery, rescue operations, and passenger transport.
In terms of operation, target market is explored into piloted and autonomous. These autonomous eVTOLs can operate in urban areas as they are equipped with high-quality sensors and proven technology for human-free operations. Presently, the market for fully-autonomous aerial vehicles is smaller than that of the piloted aerial vehicles.
Depending upon the travel range, the target market is segmented into Intercity, and Intracity. Intracity have the range in between 20 to 100 Kilometers and hence acquire highest market.
By application, the final product processing segment is further bifurcated into air taxi, air ambulance, airport shuttle, last mile delivery, personal air vehicle, and air metro. Air taxis are in the development phase but they may be commercializing in the coming years. These air taxis have the great capability to vertically take-off and land, hence it is easier for them to land in crowded locations.
By region, North America region contributes to the largest share in the global urban air mobility market due to demand for drones for inspection purposes. Furthermore, many startups from the United States are working together for developing and implementing these technologies for bringing the UAM into commercial usage in the next 5-6 years.
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The prominent player operating in the global urban air mobility market includes Uber Technologies Inc., Airbus SE, The Boeing Company, Textron Inc., Safran SA, Bombardier Inc., Embraer SA, Hyundai Motor Co., Pipistrel, Karem Aircraft, Honeywell International Inc., and Jaunt Air Mobility LLC.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
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Market Share (%) and BPS Analysis, by Region
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