PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1556884
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1556884
The urban air mobility market is estimated to be USD 4.6 billion in 2024 and is projected to reach USD 23.5 billion by 2030, at a CAGR of 31.2% between 2024 and 2030, and USD 41.5 billion by 2035, at a CAGR of 12.1% from 2030 to 2035. The Platform Volumes are expected to grow from 61,479 units in 2024 to 519,370 in 2030 to 875,438 units in 2035.
Scope of the Report | |
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Years Considered for the Study | 2020-2035 |
Base Year | 2023 |
Forecast Period | 2024-2035 |
Units Considered | Value (USD Billion) |
Segments | By solution, mobility type, platform architecture, range, mode of operation, end user |
Regions covered | Asia Pacific, Europe, North America, and Rest of World |
The key drivers of the UAM market include high demand for efficient urban mobility solutions to reduce congestion, technologically advanced propulsion through electric engines, autonomous systems, improved batteries, and significant venture capital and private investment. Supporting regulatory frameworks and infrastructural development of requirements such as vertiports and charging stations are the essential elements boosting the market. Further, with growing concerns about emissions and consumer interest in new, on-demand mobility options, environmental concerns and consumers' curiosity are fueling market growth.
"Platform segment is set to dominate the UAM market."
The contribution of the platform segment would, therefore, be the largest in the market in 2024. Actually, this segment is likely to dominate the UAM market since platforms play a critical role in deploying and operating air mobility solutions. Platforms consist of eVTOL aircraft with accompanying software; initial deployment and revenue from sales, leasing, and service are included. Their potential for integration with the current transportation infrastructure, the rapid pace of technological advance, and competitive, innovative capabilities secure the leading position of this segment in the market.
"Ride-sharing company by end user is estimated to grow at highest CAGR in forecast period."
Based on the end user, the ride-sharing company segment is expected to grow the most during the forecast period. UAM will likely be dominated by companies operating on ride sharing because this business model has shown the best capability of scaling up quickly; matching significant growth quickly and efficiently, their long history of dealing with huge fleets gives such corporations firm grounding in the marketplace based on these merits of experience. Besides, the existing brand name and customer loyalty significantly enhance market positioning. As these air mobility solutions become integrated, ride-sharing companies will utilize their existing infrastructure and operational experience to create larger implementations of seamless and novel transportation offerings, thereby propelling the UAM sector to significant growth.
"North America is expected to hold the highest market share in 2024."
Having the region lead the pace in innovation for the rest of the world in new concepts in urban transport and building the necessary infrastructure required for these innovations, North America maintains the largest share in the UAM market. The technology ecosystem is well-established in the region and with a strong entrepreneurial presence, development of UAM is very rapid.
Besides that, North America offers diversified geography, from varied urban and suburban environments to an ideal ground test of the UAM solution for various use cases and applications. Further, major companies in aerospace and automotive are based here; it remains a collaborative environment for the accelerated development and commercialization of UAM technologies.
include Lilium Aviation Gmbh (Germany), Archer Aviation Inc. (US), Eve Holdings, Inc. (Brazil), Airbus (France), and Ehang (China). These key players offer solutions applicable to various sectors and have well-equipped and strong distribution networks across North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America.
The UAM market is segmented by solution platform and infrastructure. The platform is segmented into aerostructure, avionics, propulsion systems, electrical systems, and software. Infrastructure solution is segmented into vertiports, charging stations, traffic management, and maintenance facilities.
By Mobility type, the UAM market is segmented into Air Taxi, Air shuttle and Air Metro, Personal Aerial Vehicle, Air Ambulance & Medical Emergency Vehicle, and Cargo Air Vehicle (CAV),
By mode of operation, UAM arke is segmented into Piloted and Autonomous.
By Range, UAM market is segments into Intercity and Intracity
By End User, UAM market is segmented into Ride Sharing Companies, Scheduled Operators, E-Commerce Companies, Hospitals & Medical Agencies, and Private/Personal Operators.
By Platform architecture, UAM market is segmented into rotary wing, that includes helicopters and multicopters, Hybrid Wing, that includes Vectored thrust and Lift + Curise, and Fixed wing aircraft.
This report segments the Urban Air Mobility market across five key regions: North America, Europe, Asia Pacific, Latin America, and the rest of the world, along with their respective key countries. The report's scope includes in-depth information on significant factors, such as drivers, restraints, challenges, and opportunities that influence the growth of the Urban Air Mobility market.
A comprehensive analysis of major industry players has been conducted to provide insights into their business profiles, solutions, and services. This analysis also covers key aspects like agreements, collaborations, new product launches, contracts, expansions, acquisitions, and partnerships in the Urban Air Mobility market.
This report is a valuable resource for market leaders and newcomers in the Urban Air Mobility market. It offers data that closely approximates revenue figures for the overall market and its subsegments. It equips stakeholders with a comprehensive understanding of the competitive landscape, facilitating informed decisions to enhance their market positioning and formulating effective go-to-market strategies. The report imparts valuable insights into the market dynamics, offering information on crucial factors such as drivers, restraints, challenges, and opportunities, enabling stakeholders to gauge the market's pulse.