Chicago, July 10, 2023 (GLOBE NEWSWIRE) -- The Urban Air Mobility Market by Solution (Infrastructure, Platform), Mobility Type (Air Taxi, Personal Air Vehicle, Cargo Air Vehicle, Air Ambulance), Platform Operation, Range, Platform Architecture, End User, Region- Global Forecast to 2030".
[295 Pages Report] The urban air mobility market is estimated to grow from USD 3.8 billion in 2023 to USD 28.5 billion by 2030, at a CAGR of 33.5% from 2023 to 2030. The market is driven by factors such as growing smart city initiatives, a rise in environmental concerns, and increasing advancements in technology for UAM.
North America is expected to account for the highest CAGR in the forecasted period.
North America is estimated to account for the highest CAGR in the forecasted period. The market growth in this region is expected to be fueled by an advancement in technology and investments in the UAM industry during the forecast period. The major countries considered under this region are the US and Canada. The key factor responsible for North America leading the UAM market is the high demand for new modes of transportation in the region. The growing demand for aircraft for commercial applications and their increasing utility in the civil sector to carry out transport and logistics activities are additional factors influencing the growth of the North America UAM market.
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Based on end user, the scheduled operator’s segment is projected to have the second highest share in 2023
Based on end users, the urban air mobility market has been segmented into ridesharing companies, scheduled operators, e-commerce companies, hospitals & medical agencies, and private operators. Scheduled operators are responsible for providing regular and planned UAM services to passengers, similar to traditional scheduled airlines. They ensure that UAM operations adhere to specific routes, timetables, and service standards. Scheduled operators play a crucial role in managing passenger bookings, coordinating flights, optimizing routes, and maintaining operational efficiency. The growth of scheduled operators contributes to the development of reliable and accessible urban air transportation, providing commuters with a convenient and predictable mode of travel within urban areas while enhancing connectivity and reducing congestion on the ground.
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Urban Air Mobility Market Scope
| Report Metric | Details |
| Estimated Market Size | USD 3.8 billion |
| Projected Market Size | USD 28.5 billion |
| Growth Rate | CAGR of 33.5% |
| Market size available for years | 2020–2030 |
| Base year considered | 2022 |
| Forecast period | 2023-2030 |
| Forecast units | Value (USD billion) |
| Segments covered | By Solution, By Mobility type, By Range, By Platform Operation, By Platform Architecture, By End User |
| Geographies covered | North America, Europe, Asia Pacific, Latin America, and Rest of the World |
| Companies covered | Airbus SE (Netherlands), Wisk Aero LLC (US), Volocopter GmbH (Germany), Ehang (China), Joby Aviation Inc. (US), and Textron Inc. (US), among others |
Based on platform architecture, the fixed-wing segment of the market is projected to grow at the highest CAGR from 2023 to 2030.
Based on platform architecture, urban air mobility has been segmented into rotary wing, fixed-wing hybrid, and fixed-wing. A fixed-wing aircraft generates a forward thrust as the wings generate lift due to the aircraft’s speed and the shape of the wings. The wings are not always static, and a pilot does not always fly the aircraft. Fixed-wing UAM vehicles require shorter take-off and landing distances, allowing for the utilization of existing infrastructure. The integration of advanced technologies such as electric propulsion and autonomous flight systems further enhances the potential of fixed-wing UAM, contributing to the expansion of this exciting and transformative mode of transportation.
Based on mobility type, the air taxis segment of the market is projected to grow at the highest CAGR from 2023 to 2030.
Based on mobility type, the urban air mobility market has been segmented into air taxis, air shuttles & air metros, personal air vehicles, cargo air vehicles, and air ambulances & medical emergency vehicles. The air taxis segment is estimated to lead during the forecast period owing to increasing developments in manned and unmanned aircraft. Air taxis have emerged as an appealing solution, capable of mitigating traffic congestion and minimizing travel durations. As a result, they have garnered interest from both commuters and travellers seeking faster and more convenient mobility options. By offering the potential to reduce travel times and alleviate urban congestion, air taxis have become increasingly attractive within the transportation landscape.
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Urban Air Mobility Companies
Airbus SE
Airbus SE (Netherlands) is a global leader in designing, manufacturing, and delivering products and services for the space and aviation industries worldwide. The company reportedly operates in three business segments: Airbus Helicopters, Airbus, and Airbus Defense and Space. Under Airbus Helicopters, the company provides UAM-related products such as City Airbus eVTOL aircraft. The products are made with cutting-edge materials, and production processes such as 3D printing, composites, and robots are used to maximize their longevity and strength. Airbus is investing in the research, design, and development of electric vertical takeoff and landing (eVTOL) aircraft tailored specifically for UAM operations. The company is committed to advancing eVTOL technology by integrating cutting-edge electric propulsion systems, autonomous flight capabilities, and innovative design principles.
Lilium Aviation GmbH
Lilium Aviation GmbH (Germany) specializes in designing and manufacturing eVTOL aircraft for urban transportation. Its eVTOL aircraft, known as Lilium Jets, feature a fixed-wing design with multiple electric ducted fans for vertical takeoff and landing. This allows the aircraft to operate efficiently in urban environments without traditional runways. Key components of Lilium's aircraft include advanced aerodynamics, electric propulsion systems, and sophisticated flight control software. The aircraft design incorporates redundant systems, fail-safe mechanisms, and thorough testing. This includes redundant motors, power systems, and flight control surfaces, as well as comprehensive sensor suites and advanced avionics for enhanced situational awareness.
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