Urban Air Mobility Market to Register Substantial Global Expansion by 2035


Posted November 9, 2020 by bisrsrch

Focus on Aircraft Type, Infrastructure, Use Case, Operation, and Travel Range
 
The urban air mobility market framework includes infrastructure, technology, and business. Infrastructure and technology are the most significant factors required for urban air mobility to take-off. The technological framework includes system architecture, battery operations, charging technology, software development, operations through ground and air operation, and certifications, among others. The urban air mobility market is expected to create an entirely new industry. The vehicles need to be manufactured at a large scale, so that they create new opportunities and benefits through the advanced aircraft. Sky ports require a lot of power, generating business for utility companies, while the need for a new infrastructure is expected to create opportunities for the real estate industry. The manufacturers are continuously taking initiative to develop various innovative infrastructural concepts, such as better connectivity, better tracking systems, almost every vertiport in the future is expected to have charging stations.

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Dubai, Singapore, Dallas, Los Angeles, and Tokyo are the five early key pioneers of urban air mobility creating major demand and attraction to this industry. Dubai launched test flights in 2017 and has an ambitious goal of launching commercial operations of its Autonomous Aerial Taxi Service in the near future. There are many research and development organizations that are continuously putting efforts in developing more efficient air mobility concepts for electric aircraft, as they are highly efficient and cost effective. Furthermore, the manufacturers and research organizations are focused on developing electric VTOL aircraft to make it more cost-effective and to commercialize.. This is also expected to enhance the endurance required for longer flights.

Companies such as Aurora Flight Sciences and Joby Aviation are demonstrating their all electric fixed-wing VTOL aircraft prototypes for better cost-effective operations. The on-demand urban air transportation is expected to create big opportunity during the forecast period, 2023-2035. With the growing congestion on road, people are looking for alternate modes of transport. Therefore, the development of fixed-wing VTOL aircraft could fulfil the requirement as it does not require any long runways for take-off and landing purposes.

Moreover, higher speed of cruising speed along with VTOL capabilities can help to cover larger distance within less time. In addition to this, growing importance in last mile delivery and increasing usage in humanitarian relief operations are other opportunities for the growth of the urban air mobility market. Governmental regulations are expected to play an important role in commercializing urban air mobility market. There are certain regulations that need to be followed by each operator. Each country has its own set of rules for operations. For instance, Federal Aviation Administration (FAA) is the regulatory body for American Civil Aviation

Privacy and safety concerns is another challenge faced by the urban air mobility market. The air taxis or drones in sensitive locations such as beaches and private properties can become a matter of concern. Hence, this restricts the use of air taxis and drones in certain locations. The initial infrastructural setup cost as well as travelling cost is high which could restrict the demand for the VTOL aircrafts in the market. Most of the technological constraints are related to battery, and it is one of the reasons hindering the growth of the electric Vertical Takeoff and Landing L aircrafts in the urban air mobility market.

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Globally, the market for urban air mobility is rapidly evolving. From 2023, the market is expected to begin particularly in the megacities, including the U.S., Germany, France, Singapore, Dubai, and others, as the testing are underway at various locations. The market scenario in the countries are expected to differ, as there are different rules and regulations for urban air mobility operations. Based on the expert interviews and research, it is expected that market will take-off from 2023.

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Issued By BIS RSRCH
Country United States
Categories News , Research , Technology
Tags urban air mobility market
Last Updated November 9, 2020