Global Urban Air Mobility (UAM) Market is valued USD 4.8 Billion in 2017 and is projected is to exhibit 10.41% CAGR during the forecast period. The market is projected to be around USD 10.6 Billion by 2026. The market is driven by the new advances in aircraft technology.
As part of this future urban landscape, Urban Air Mobility (UAM) is an air transport systems that enable on-demand and automated passenger or cargo-carrying air transportation services, and working with the urban air mobility (UAM) community to spot and address the key challenges ahead. The conception of an urban air mobility environment, where air vehicles can interact safely and efficiently to complete various missions with or without pilots.
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Urban Air Mobility (UAM) Market Dynamics
Urban air mobility can contribute positively to a multimodal mobility system and help build more liveable cities. Some key factors that drive the urban air mobility (UAM) market are increasing urbanization, the worsening bane of road congestion and new advances in aircraft technology and electric propulsion, the time is now tender for the emergence of urban air mobility (UAM). Furthermore, the fastest travel option, reasonable fares safe and enjoyable flight experience, integrated mobility solution are some key points that positively boost the growth of urban air mobility (UAM) market.
Some major participants in urban air mobility (UAM) market like Aircraft manufacturers, air service providers, and research organizations are currently leading efforts to enable UAM. However, the limited reliability of eVTOLs during transportation and the inability to predict the external environment are projected to hinder the growth of this market. Also, primary challenges have to face the market are mechanism for certifying autonomous flight, security, public acceptance, required air traffic services and environmental implications are some.
Urban Air Mobility (UAM) Market Insight
North America is expected to have the highest market share in urban air mobility (UAM) market followed by Europe during the forecast period. In the US, NASA is working on effective partnerships with industry, academia, and the Federal Aviation Administration (FAA) to identify and seek solutions to the challenges to accommodate remotely piloted aircraft. European countries such as Germany and France, are investing heavily in the development and procurement of advanced eVTOL systems for commercial operations. Additionally, the growing trend of automation and globalization in these countries are boosting the growth of the European urban air mobility market.
Urban Air Mobility (UAM) Market Segmentation
The global Urban Air Mobility (UAM) Market is segmented into component, operation, range and region. On the basis of the component the market is further divided into infrastructure and platform. The infrastructure are further segregated into charging stations, vertiports, traffic Management. Also platform are further segmented into air taxi, personal air vehiclecargo air vehicle, air ambulance. Based on the operation the market is segmented into piloted, autonomous. Based on the range the market is further divided into intracity (20 to 100 Kilometers), iIntercity (100 to 400 Kilometers), and based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
Urban Air Mobility (UAM) Market Competitive Landscape
The players associated with the global Urban Air Mobility (UAM) Market are Airbus Group, Boeing, Volocopter GmbH, Honeywell International Inc., Aurora Flight Sciences, Embraer SA, PIPISTREL, Bell Helicopter Textron Inc., Neva Aerospace, Delorean Aerospace LLC, Kitty Hawk, Lilium, EHang, Workhorse Group Inc., and Joby Aviation. These players are focusing on merger & acquisition to extract more business opportunity.
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