DELRAY BEACH, Fla.,
Sept. 12, 2024 /PRNewswire/ --
The Urban Air Mobility Market is estimated to
be USD 4.6 billion in 2024 and is
projected to reach USD 41.5 billion
by 2035 at a CAGR of 12.1% from 2024 to 2030 according to a new
report by MarketsandMarkets™. The Platform Volumes are
expected to grow from 61,479 units in 2024 to 519,370 in 2030 to
875,438 units in 2035. Rapidly developing cities and
increased road congestion in large towns create a need for
alternative transportation. UAM is one answer to the development of
ways to cut congestion, with a fleet of options that take faster
and more direct routes through the air. Growing populations in
urban areas further develop the need for additional transportation
infrastructure, making UAM an extremely attractive option for
planners and developers alike. Besides, UAM vehicles, particularly
eVTOL aircraft, are considered green machines, which correspond to
combustion engine vehicles, to reduce emissions. Besides, the
eVTOLs have been designed to keep noise lower than helicopters so
as not to cause noise pollution in urban areas, which is a great
concern.
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Browse in-depth TOC on "Urban Air Mobility
Market"
466 – Tables
71 – Figures
409 – Pages
Urban Air Mobility Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 4.6
billion
|
Estimated Value by
2035
|
$ 41.5
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 12.1%
|
Market Size Available
for
|
2020–2035
|
Forecast
Period
|
2024–2035
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By solution, mobility
type, platform architecture, range, mode of operation, end
user
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Cybersecurity
concerns
|
Key Market
Opportunities
|
Growing demand for
shorter travel time and efficient transportation
|
Key Market
Drivers
|
Rise in urban
congestion
|
By solution, the platform segment is projected to hold a
larger market share during the forecast period.
By solution, the platform segment is expected to hold the larger
market share across the forecast period. The platform segment is
expected to do this because of its significance in UAM systems,
including all key technologies like eVTOL aircraft and related
systems. Because these technologies are improving daily and many
companies are entering the market, the requirement for advanced
platforms is increasing. In the initial years of the development of
UAM, much emphasis will be laid on the development and deployment
of these enabling core technologies, which are critical for the
launch of UAM services. This focus places them larger market share
during the forecast period than infrastructure.
By mode of operation, the autonomous segment is expected to
grow the most during the forecast period.
The segment of the autonomous system is anticipated to surge in
the forecast period, as rapid development has been noted in
artificial intelligence, machine learning, and sensor technology
that upsurges its capability and safety. These technological
improvements thus provide higher viability and efficiency in
autonomous flight. Autonomous systems also reduce operations costs
because there is no requirement for retaining pilots on board, thus
reducing labor costs and operational simplification. Therefore, the
capability of UTM to handle multiple flights with a minimum of
human intervention supports scalability and prepares this
capability for high demand in Urban Air mobility.
By end users, Ride Sharing Companies are projected to lead
during the forecast period.
Ride-sharing companies are expected to be the leaders in the UAM
market, as it is where demand for quick, easy urban transportation
will be met. UAM presents a new interface: fast, straight aerial
routes smoothly embedded into companies' core services. Their
pre-established platforms, great customer bases, and experience
with operations- especially in the management of on-demand
services- make for a good platform where integration of the UAM
solution can be affected. The already-standing infrastructure will
enable these ride-sharing firms to scale and deploy air taxi
services quickly by tapping into existing resources and networks by
using proven capabilities of adaptability and innovation that have
been expressed in the transportation sector. Also, experience in
the Regulatory Environments and Building Customer Trust will be a
basis for the adoption and acceptance of UAM; thus, having leading
positions on the front line for leading the new market.
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North America holds the
highest growth rate in the region for the Urban Air Mobility
market.
Among the UAM markets, North
America stands apart with its vast venture capital and
private investments in technology and infrastructure. Because of
this, the development and deployment of UAM industry solutions
are going very rapidly. The development of necessary
infrastructures like vertiports and charging stations is going
fast, especially in major US cities and metropolitan areas, forming
a strong backbone to support and scale up UAM services in this
region. This dire need for options for more efficient
transportation is greatly brought about by the high levels of
congestion in these urban centers. UAM tends to meet this demand
through aerial routes that are faster and more direct than any
ground route will ever be, and which could eventually help
alleviate road congestion-which makes the prospect quite promising
for urban mobility. All these factors combined, along with a strong
investment environment and continuous infrastructural development,
make North America one of the
front runners in the UAM market, with a high growth rate and
considerable market share.
Urban Air Mobility Companies Lilium Aviation Gmbh
(Germany), Archer Aviation Inc.
(US), Eve Holdings, Inc. (Brazil),
Airbus (France), and Ehang
(China) are key players offering
solutions applicable to and are keen on addressing key factors to
reduce the urban congestion across North
America, Europe,
Asia Pacific, the Middle East, and the Rest of the World.
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