Urban Air Mobility Market Size Worth USD 12.45 Billion in 2032 | Emergen Research

Rising demand for green solutions drives the need for Urban Air Mobility (UAM) is one of the key factors driving urban air mobility market growth

Vancouver, Nov. 21, 2023 (GLOBE NEWSWIRE) — Global urban air mobility market size reached USD 3.10 Billion in 2021 and is expected to register a significantly steady revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Significant investment in UAM systems all around the world in order to meet increased demand is one of the major factors expected to continue to drive market revenue growth.

Drivers:

Automobile accidents have increased as vehicle ownership has expanded in emerging nations such as India and China. Additionally, an increase in number of transportation applications leads to increased pollution and demand for additional parking spaces. This factor is expected to drive UAM market growth over the forecast period. UAM is expected to be ultimate answer to these environmental constraints in order to overcome concerns connected with transportation applications.

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Restraints:

Legal and regulatory shortcomings are one of the key factors that will hamper market revenue growth during the forecast period. Technology is rapidly outperforming legislation. As with earlier disruptive technologies, federal, state, and municipal governments have yet to reach a point where innovation is not inhibited and public is sufficiently safeguarded. Urban air mobility operations offer fresh and real issues in terms of safety and privacy, as well as some legislative obstacles that may hinder implementation of such technology.

Growth Projections:

Global urban air mobility market is expected to register a CAGR of 13.8% over the forecast period and revenue is projected to increase from USD 3.10 Billion in 2021 to USD 12.45 Billion in 2032.

COVID-19 Impact Analysis:

The COVID-19 pandemic had a significant impact on UAM supply chain. Spread of  the COVID-19 had a negative impact owing to lockdowns at UAM vehicle research and development facilities. Several firms have ceased to continue operating in the market owing to development delays and funding losses. When compared to pre-COVID-19 circumstances, commercialization of UAM appears to have been delayed by a year.

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Current Trends and Innovations:

Increased road traffic, particularly during peak hours, resulted in commuters spending much more time on road. With road congestion and urban air mobility becoming major concerns, governments and industry firms have begun to research UAMs for possible passengers as well as cargo transportation.

Geographical Outlook:

Urban air mobility market in Europe is expected to account for largest revenue share over the forecast period. Countries in this region, including Germany, the U.K., and France, are significantly contributing to growth and deployment of advanced eVTOL systems for commercial operations. The market will be driven by advancements in manufacturing capabilities in countries in the region.

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Scope of Research

Major Companies and Competitive Landscape

The global urban air mobility market is fairly fragmented, with few small and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective urban air mobility in the market. Some major companies in the market report include:

• 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
• The Boeing Company.

Strategic development

• In February 2022, Volocopter GmbH came into partnership with DB Schenker to launch Velodrome. Essentially, this is a heavy-lift delivery service. It is unscrewed, completely electric, and can carry up to 200 kg of cargo. Apart from its unparalleled payload, the aircraft has a range of up to 40 kilometers, allowing for several urban delivery trips in a single day.
• In February 2022, Bell Textron Inc, came up with a new flight-testing program with the BELL V-280. The Future Vertical Lift team completed a highly successful flight-testing program for the Future Long-Range Assault Aircraft competition with the Bell V-280 Valor. The crew has made outstanding progress on the Bell 360 Invictus construction and system integration work for the Future Attack Reconnaissance Aircraft. Bell is proud of its employees and the exciting investments it is making to guarantee Army aviation has the reach, speed, range, agility, and lethality required to succeed on the battlefield. Bell is focusing on taking advantage of this generational potential to reinvent vertical lift. The V-280 and Bell 360 programs are not only vital for today’s war but are also intended to keep the American aviation at a decisive edge for decades to come.

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Emergen Research has segmented urban air mobility market on the basis of component, operation, range, end-use, and region:

• Component Outlook (Revenue, USD Billion; 2019–2032)

• • • Platform

1. Air Taxis
2. Air Shuttles
3. Air Metros
4. Air Ambulance
5. Personal Aerial Vehicle
6. Cargo Aerial Vehicle
7. Last-Mile Delivery
   • • Infrastructure
8. Charging Station
9. Traffic Management
10. Vertiports
    • Operation Outlook (Revenue, USD Billion; 2019–2032)
      • Piloted
      • Hybrid
      • Fully Autonomous
    • Range Outlook (Revenue, USD Billion; 2019–2032)
      • Intercity
      • Intracity
    • End-Use Outlook (Revenue, USD Billion; 2019–2032)
      • Ride-Sharing Companies
      • Scheduled Operators
      • E-Commerce Companies
      • Hospitals and Medical Agencies
      • Private Operators

• Regional Outlook (Revenue, USD Billion, Volume, Tons; 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Turkey
    • Rest of MEA

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