According to the latest analysis by Emergen Research, the Global Urban Air Mobility Market size is expected to exceed USD 15.54 Billion in terms of revenue from USD 3.10 Billion in 2023, delivering a CAGR of 25.9% through 2030. Rise in number of smart city initiatives and surging demand for an alternative mode of transportation is expected to drive urban air mobility market growth
Rising population growth has resulted in excessive road traffic and congestion, which is offering lucrative opportunities for the development of the urban air mobility solutions. With rapid rise in urban population, increase emphasis on environmental sustainability and surging need to manage limited natural resources is resulting in accelerated demand for smart city solutions. Rise in the number of Smart City initiatives undertaken by governments across the globe will boost the demand for urban air mobility solutions. In addition, increased demand for efficient mode of logistics and transportation will also foster UAM market revenue share through 2027.
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Key Highlights from Report
- On the basis of operation, the pilot-based operation sub-segment is expected to gain major traction through 2030 as it is easier for market players to manufacture VTOL (vertical take-off and landing) aircraft. Piloted operations aid manufacturers in eliminating the expenses of autonomous R&D. The pilot-based operation makes it easier for the market players to manufacture VTOL aircraft and aid them in getting rid of a massive amount of expenses in the autonomous R&D. This type of operation is safer and also implies a lesser amount of research and development costs.
- In the regional landscape, Europe is expected to be a major revenue contributor for the urban air mobility market in the forecast period. Various European countries are exploring the potential of drones after the UAM initiative EIP-SCC (European Innovation Partnership on Smart Cities and Communities), which may foster regional industry size through 2027.
- Key players operating in the global urban air mobility market include AIRSPACEX, Airbus A3, Aurora Flight Sciences (A Boeing Company), Carter Aviation, CityAirbus (Airbus Helicopters), Bartini, Lilium Aviation, Passenger Drone, Vimana, and Volocopter, among others.
- Airbus, the RATP Group, Group ADP, and along with the French civil aviation authority and Paris Ile-de-France region announced the launch of a feasibility study in June 2020 to demonstrate an urban system of VTOL vehicles for the upcoming 2024 Olympic Games in Paris.
For the purpose of this report, Emergen Research has segmented the Global Urban Air Mobility Market on the basis of component, operations, range, and region:
- Component Outlook (Revenue, USD Billion; 2023-2030)
- Charging Stations
- Traffic Management
- Air Taxis
- Air Shuttles
- Air Metros
- Last-Mile Delivery
- Air Ambulance
- Personal Aerial Vehicle
- Cargo Aerial Vehicle
- Operations Outlook (Revenue, USD Billion; 2023-2030)
- Range Outlook (Revenue, USD Billion; 2023-2030)
- Regional Outlook (Revenue, USD Billion; 2023-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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