Demand for an Efficient Mode of Logistics & Transportation is likely to stimulate demand.
Market Size – USD 3.1 billion in 2023, Market Growth - CAGR of 16.2%, Market Trends –Need for an Alternative Mode of Transportation in Urban Mobility
NEW YORK, March 18, 2019 (GLOBE NEWSWIRE) -- The Global Urban Air Mobility market is expected to reach USD 7.9 billion by 2030, according to a new report by Reports and Data. The market is still at a nascent stage and is expected to witness the first ray of commercialization by 2023.
The increase in demand for an alternative mode of transportation in Urban Mobility is one of the key factors which are driving the growth of UAM market. Also, the demand from companies for an efficient mode of logistics and transportation is expected to further aid in the growth of the UAM market. The growth in urban population, increase in the need to better manage limited natural resources together with increase in focus on environmental sustainability are the major factors for the rise in demand for smart city solutions. As of February 2019, more than USD 1 billion investment has been made. This significant investment by the stakeholders in air mobility sector, will aid to the growth of the Urban Air Mobility market. Ele.me which is owned by Alibaba has been given permission by Chinese government to deliver food by Unmanned aerial vehicle on 17 different routes from over 100 local restaurants, to residents of Shanghai’s Jinshan Industrial Park. In Mexico, Cape integrated with the city of Ensenada to deploy its Aerial Telepresence. The city reported a 10% decrease in city wide crime and a reduction of 30% in home burglary after a six month pilot project.
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Further key findings from the report suggest
- The fastest growing region in Urban Air Mobility is Europe. The UAM initiative of the European Innovation Partnership on Smart Cities and Communities (EIP-SCC) has been picked up my many European countries to explore the potential of drones in an urban context. Bordeaux, a southwestern region of France, is part of the Nouvelle-Aquitaine initiative which is part of EIP-SCC programme proposes to study the implementation of the urban mobility to improve the intercity mobility. Aha, one of the largest ecommerce companies, has partnered with Flytrex, an Israel based company, to develop and expand its food delivery services in Iceland.
- The use of Air Metro is resembled by current public transit options such as subways and buses with pre-determined routes, regular schedules, and set stops in high traffic areas across each city. It is estimated that Air Metro may have a viable market in 2028, with USD 0.9 billion profit in the first year. By 2030, it is anticipated that the number of vehicles would reach up to 23,000 from 4,100 in 2028.
- Airport Shuttle and Air Taxis are expected to grow significantly since the markets are viable with a significant total available market value of USD 500 Billion at the market entry price points. In US, Air taxi market has a potential demand of approximately 55,000 daily trips which can be served by 4,000 aircraft. For the initial years of operations, the annual market value is projected to be around USD 2.5 Billion, based on near term market entry assumptions.
- Manufacturers who have developed an Aircraft Prototype: AIRSPACEX, Airbus A3, CityAirbus (Airbus Helicopters), Aurora Flight Sciences (A Boeing Company), Bartini, Carter Aviation, Lilium Aviation, Passenger Drone, Vimana, Volocopter, Joby Aviation, Workhorse, Terrafugia and Kitty Hawk / Zee Aero. Manufacturers who have designed an Aircraft Concept/CAD: AviaNovations, Delorean Aerospace, hopFlyt, Hoversurf, Jetpack Aviation, Japan Aerospace Exploration Agency, XTI Aircraft, VerdeGo Aero, Embraer and Pipistrel
In-Depth research report on Urban Air Mobility Market: https://www.reportsanddata.com/report-detail/urban-air-mobility-market
Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2023 to 2030. For the purpose of this study, Reports and Data have segmented the Urban Air Mobility market on the Component, Operations, Range, Verticals and Region:
By Component Outlook (Revenue, USD Million; 2023-2030)
- Infrastructure
- Charging Stations
- Vertiports
- Traffic Management
- Platforms
- Air taxis
- Air Shuttles
- Air Metro
- Air Ambulance
- DroNav
- Personal Aerial Vehicle
- Cargo Aerial Vehicle
- Others
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By Operations Outlook (Revenue, USD Million; 2023-2030)
- Piloted
- Autonomous
By Range Outlook (Revenue, USD Million; 2023-2030)
- Intercity (100 Kilometers to 400 Kilometers)
- Intracity (20 Kilometers to 100 Kilometers)
By Verticals Outlook (Revenue, USD Million; 2023-2030)
- Military
- Reconnaissance
- Demining
- Target practice
- Civilian
- Last Mile Delivery
- Transport and Logistics
- Aerial Imaging Systems
- Unmanned Biologic Transport
- Medical Air Rescue
- Road Traffic Patrol
- Railway and Power lines surveillance
- Container Terminal Inspection
- Oil Spill Inspection
- Pylon Inspection
- Others
Regional Outlook (Revenue, USD Million; 2023-2030)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Latin America
- Brazil
- MEA
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