Product Description:

Urban air mobility is expected to be used for a range of tasks such as humanitarian missions, climate monitoring, land transport assessments, emergency medical evacuation, news collection, package delivery, rescue operations and passenger transport. Urban Air Mobility (UAM) is an attractive commercial proposal, not far in the future. As road trips in towering megacities become more and more filled, the population of daily journeys seeks a better way to travel safely to work and other destinations. The city's air mobility can be used as an excellent way of moving daily. Urban Air Mobility, part of the future urban environment, is the term used to describe a system that allows air transport services for passenger and cargo transport on-demand, safe and highly automated in the urban setting of crewed and unmanned aerial vehicles.

Market Overview

The global Urban Air Mobility (UAM) Market was worth US$ xx million in 2020 and is estimated to reach a valuation of US$ xx million by the end of 2025, growing at an annual compound rate of around 11% between 2020 and 2025.

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Recent Developments and Trends

In June 2017, the Workhorse Group presented the SureFly helicopter at the Paris Air Show. SureFly is a personal helicopter / VTOL plane with four propeller arms, a backup battery to drive an electric motor in case of engine failure and a ballistic parachute that can drop your spaceship safely if necessary.

In 2018, Uber and NASA partnered to develop UAM airspace management technology to enable large-scale UAM operations.

In October 2019, Porsche and Boeing signed a memorandum of understanding to explore the urban aviation mobility market and its benefits.

Sikorsky developed a new SARA (Sikorsky Autonomy Research Aircraft) using MATRIX technology. It provides a very safe flight experience on autonomous airplanes in challenging environments.

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Market Growth

The use of eVTOL to increase operational efficiency, reduce human participation in intercity and intra-urban traffic, and increased investment worldwide is key to driving this market growth.

Drivers

The growing demand for alternative transport is one of the main drivers of the growth of the UAM market. In addition, the request for efficient logistics and transportation modes is supposed to support the growth of the UAM market further. The increase in urban populations, the greater need for better management of limited natural resources and the higher interest in environmental sustainability are the key drivers of a higher demand for smart city solutions. The increase in Smart City initiatives increases the need for UAM.

As of February 2019, more than $ 1 billion has been invested in smart cities. These crucial investments of those interested in the air mobility sector will help the growth of the urban air mobility market. Aircraft manufacturers, infrastructure providers and airspace consolidation researchers, along with other work in the airspace, have made significant investments in public air mobility work. Urban air mobility is expected to be used for a number of tasks, such as humanitarian missions, climate monitoring, land transport assessments, emergency medical evacuation, news collection, package delivery, rescue operations and passenger transport.

Restraints

On the other hand, some limitations can reduce the growth of the urban air mobility market. Concerns with the external environment can limit the operation of eVTOL and cause a market crash. Also, high manufacturing costs and strict regulatory procedures can decrease market expansion.

Market Segmentation

By Component: The global urban air mobility market has been divided into infrastructure and platform. The platform sector is expected to have a higher CAGR during the forecast period due to a more significant investment by several eVTOL manufacturers in commercial applications such as air taxis, private air travel, cargo transportation and aviation ambulances.

By Operation: The urban air mobility market has been classified as a pilot and autonomous. The autonomous segment is presumed to be more suitable for passenger and freight transport. As it is increasingly used for interurban transport, the autonomous sector is foreseen to lead the market during the forecast period. This autonomous segment is equipped with high-quality sensors and proven technology for human-free operation, allowing to work in urban areas.

By Application: The global urban air mobility business is bifurcated as passenger transport and freighter. The passenger transport accounts for the prominent share in the worldwide market and is likely to witness a noteworthy growth rate in the coming years.

Regional Analysis

North America urban aviation mobility market is estimated to be the most crucial player in the global business, followed by Europe, Asia Pacific and other regions (RoW). The United States is one of the famous countries in North America for the development of the UAM market. The United States urban aviation mobility market is expected to dominate the entire industry in 2023.

The European urban air mobility market is assumed to grow at the highest rate during the forecast period. Countries in this region, such as Germany and France, are investing heavily in the development and acquisition of advanced eVTOL systems for commercial operations. The development of manufacturing capacity in the emerging economies of this region will lead the market. Also, the growing trend of automation and globalization is accelerating the growth of the European UAM market.

Top Leading Company

Many companies, such as Airbus, Boeing and Volocopter, are working on future projects to provide passengers with the concept of next-generation urban aviation mobility. As urbanization increases, demand to beat traffic increases and platforms such as Uber and Ola are supposed to drive tremendous growth in the urban air mobility market.

Key Players

Popular players in the global urban air mobility market include Delorean Aerospace LLC, Lilium, EHang, Kitty Hawk, Boeing, Bell Helicopter, Textron Inc., Aurora Flight Sciences and Neva Aerospace