CHICAGO, June 22, 2023 /PRNewswire/ — The urban air mobility market is estimated to be USD 3.8 billion in 2023 to USD 28.5 billion by 2030, at a CAGR of 33.5% from 2023 to 2030 according to a new report by MarketsandMarkets™. The increasing demand for fast and effective transportation, increasing the need for sustainable development are driving the growth of the urban air mobility market.
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Browse in-depth TOC on “Urban Air Mobility Market”
277 – Tables
49 – Figures
295 – Pages
Urban Air Mobility Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$3.8 billion |
|
Estimated Value by 2030 |
$28.5 billion |
|
Growth Rate |
Poised to grow at a CAGR of 33.5% |
|
Market Size Available for |
2020–2030 |
|
Forecast Period |
2023–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Solution, Mobility Type, Platform Operation, Range, Platform Architecture, End User, Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
Lack of skilled labor |
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Key Market Opportunities |
Need for sustainable development |
|
Key Market Drivers |
Need for fast and effective transportation |
Based on solution, the infrastructures segment is estimated to have the highest CAGR during the forecast period.
The infrastructure segment is projected to grow at the highest CAGR in the urban air mobility industry during the forecast period. The UAM infrastructure is experiencing significant expansion as numerous cities worldwide are dedicating resources to establish vertiports, designated areas for air taxis, and eVTOL aircraft to take off and land. These vertiports necessitate specialized amenities like charging stations, landing pads, and passenger facilities. Additionally, the development of airspace management systems is crucial for ensuring safe and efficient operations. The rapid growth of UAM infrastructure is fueled by the rising demand for sustainable transportation options, offering potential benefits such as decreased congestion and enhanced urban mobility.
Based on platform operations, the autonomous segment is estimated to have the highest CAGR in the forecasted period.
The autonomous segment is projected to grow at the highest CAGR in the urban air mobility market during the forecast period. Autonomous aircraft have emerged as efficient and secure transportation solutions, alleviated urban congestion and enhanced accessibility. Through recent technological advancements, these aircraft can autonomously navigate airspace and execute smooth take-offs and landings, ensuring seamless and dependable transportation options. As regulations and infrastructure continue to evolve, the utilization of autonomous aircraft in UAM is expected to expand further, reshaping the urban transportation landscape.
Based on end users, the ridesharing companies’ segment is estimated to have the highest CAGR in the forecasted period.
The ridesharing companies’ segment is projected to grow at the highest CAGR in the urban air mobility market during the forecast period. With the use of vertical takeoff and landing (VTOL) aircraft or drones, ride-sharing companies provide convenient and time-saving aerial transportation options. The growth of ride-sharing companies within the UAM ecosystem is revolutionizing urban mobility, paving the way for a future where flying taxis and on-demand aerial transportation.
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Based on region, the North America segment is estimated to have the highest CAGR and largest share during the forecast period.
The North American region is projected to grow at the highest CAGR and largest share during the forecast period. Various technological advancements, increased demand for efficient transportation, and government support have propelled the expansion of urban air mobility in this region. North America has attracted several established aerospace companies and innovative startups to transform urban air mobility.
The UAM market in North America is also driven by a wide array of applications, including air taxis, cargo delivery, and emergency services. This growth is expected to bring about a transformative shift in urban mobility, revolutionizing the future of transportation in the region.
Major players operating in the urban air mobility companies are Textron Inc. (US), Wisk Aero LLC (US), Airo Group Holdings, Inc. (US), Wingcopter GmbH (Germany), and Vertical Aerospace (UK), among others. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, and Rest of the World.
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