Urban Air Mobility Market Is Booming Worldwide by Share, Trends, Size, Growth, Demand, Segments and Forecast to 2030
According to the most recent analysis by Emergen Research, the urban air mobility market size reached USD 3.10 billion in 2021 and is anticipated to experience a revenue CAGR of 13.8% over the projected period. One of the main factors fueling the rise of the market’s revenue is the rising demand for alternate forms of transportation in urban mobility. Urban air mobility, often referred to as advanced air mobility, is a recently created concept that envisions a sustainable, affordable, safe, and accessible air transportation system for transporting people, managing emergencies, and delivering cargo within urban regions.
UAM is a component of a larger on-demand mobility ecosystem where users can dispatch or use urban aviation services, courier services, shared automated vehicles, shared mobility, public transportation, and other cutting-edge and emerging transportation technologies to access mobility and delivery services on demand. Additionally, this might ease the strain on numerous persistently overworked infrastructures, including those in densely populated areas. Urban Air Mobility initiatives have already been tested for some time in cities like Singapore, Dubai, Dallas, and Los Angeles.
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Without a doubt, daily time losses due to traffic congestion are enormous all over the world. People get stuck in traffic on their way to or from work, which wastes gasoline and lowers productivity. Additionally, this has an effect on the metro economy. We won’t be able to control the problem of traffic congestion and its detrimental effects if we don’t opt for new sustainable alternatives. Traffic congestion can be lessened by using urban air mobility transit. Today’s top transportation companies are utilising cutting-edge technologies and getting ready to construct intelligent aerial vehicles for urban air mobility. With the advent of flying taxi services, drones, and electric aircraft, transportation will become more effective and efficient. Over the next few years, it is anticipated that these factors would raise demand for urban air mobility (UAM). However, it is projected that the greater initial expenditure needed for research and development and for creating the necessary infrastructure for urban air mobility will restrain the market’s expansion.
Some Key Highlights from the Report
Due to the extensive variety of platforms needed for intercity travel and the fact that the cost of platforms is much higher than the cost of intracity platforms, the intercity segment is anticipated to lead the global market in terms of revenue contribution over the forecast period.
During the projected period, the hybrid segment’s revenue is anticipated to grow quickly. Particularly for remotely piloted or fully autonomous aircraft, the platform used to transport passengers needs to be more solid in order to ensure the safety of everyone on board.
Due to its adoption of cutting-edge modes of transportation, North America is predicted to experience one of the most rapid rates of growth in the global unmanned aerial vehicle market over the forecast period. A number of American start-ups are working together to create and apply cutting-edge technology at the local level.
Bell Textron Inc., Volocopter GmbH, Uber Technologies, Inc., Airbus SE, Lockheed Martin Corporation, Lilium Aviation GmbH, Carter Aviation Technologies LLC, Guangzhou EHang Intelligence Technologies Co. Ltd., AirspaceX, and The Boeing Company are a few of the leading businesses mentioned in the market report.
Emergen Research has segmented urban air mobility market based on component, operation, range, end-use, and region:
Component Outlook (Revenue, USD Billion; 2019–2030)
- Air Taxis
- Air Shuttles
- Air Metros
- Air Ambulance
- Personal Aerial Vehicle
- Cargo Aerial Vehicle
- Last-Mile Delivery
- Charging Station
- Traffic Management
Operation Outlook (Revenue, USD Billion; 2019–2030)
- Fully Autonomous
Range Outlook (Revenue, USD Billion; 2019–2030)
End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Ride-Sharing Companies
- Scheduled Operators
- E-Commerce Companies
- Hospitals and Medical Agencies
- Private Operators
Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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