Global Urban Air Mobility (UAM) Market is valued at USD 1.6 Billion in 2021 and expected to reach USD 15.6 Billion by 2028 with a CAGR of 37.3% over the forecast period.
Global Urban Air Mobility (UAM) Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Rising demand for green solutions and for an alternative mode of transportation, and recent technological advancements are some of the major factors driving the growth of the Global Urban Air Mobility (UAM) Market.
Urban air mobility often referred to as advanced mobility, is a recently created concept that envisions an affordable, sustainable, accessible, and safe air transportation system for handling crises, transporting people, and delivering goods within urban regions. UAM is a component of a larger on-demand mobility ecosystem where users can deploy or use urban air transportation, shared automated vehicles, courier services, public transportation, shared mobility, and other cutting-edge and arising transportation technologies to connect mobility and distribution services on demand. Additionally, this may ease the strain on several persistently overworked infrastructures, including those in densely populated areas. Urban Air Mobility initiatives have previously been tested for some time in cities including Dubai, Dallas, Singapore, and Los Angeles.
This market has been seriously harmed by the COVID-19 epidemic. Several industrialized and developing nations, including the U.K., the U.S., China, and India, go into lockdown as a consequence of the pandemic. Due to the economic crisis, all research and development projects have been put on hold. These elements have had a detrimental effect on the market expansion. Additionally, the pandemic had a huge impact on the aviation business in 2020, which had a knock-on effect on the Urban air mobility market since the majority of the key players in this market are associated with the aviation sector directly or indirectly.
For instance, Uber sold its Elevate division to Joby Aircraft in December 2020. Joby Aviation plans to provide on-demand aviation in a few places by 2023. Lockdowns in high-growth areas caused many burgeoning UAM companies to see a decline in sales. The major companies have reduced their investment in UAM R&D as a result of development delays and poor revenue generation, while tiny companies have been unable to continue their work on UAM. The commercialization of UAM seems to have been delayed by almost a year compared to pre-COVID-19 circumstances.
The global Urban Air Mobility market is segmented based on the vehicle, range, operation, end-use, and region & country level. Based on vehicles, the global Urban Air Mobility market is segmented into air taxis, air metros, air ambulance, last-mile delivery, and others. By range, the market is segmented into intercity and intracity. By operation, the global Urban Air Mobility market is segmented into piloted, hybrid, and autonomous. By end-user, the global Urban Air Mobility market is segmented into ride-sharing companies, scheduled operators, e-commerce companies, hospitals and medical agencies, and private operators.
The regions covered in the global Urban Air Mobility (UAM) market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Urban Air Mobility (UAM) is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global Urban Air Mobility market report cover prominent players like
Elroy Air Debuts the Chaparral, an Autonomous VTOL Cargo Aircraft
On January 30, 2022; Elroy Air, a business that wants to use autonomous hybrid-electric aircraft to deliver goods, presented the pre-production model of their Chaparral aircraft. The Chaparral is a vertical take-off and landing (VTOL) airborne transport platform by Elroy Air. With its hybrid-electric drivetrain and straightforward, redundant lift and forward-flight motors, the Chaparral's initial iteration can transport 300–500 pounds of freight over a 300-mile range. The plane is intended for "middle-mile" logistics, such as transporting goods between airports, distribution centers, and centers, or from centers to parking areas for transfer to last-mile truckers.
HKCERT and Microsoft Hong Kong Launched the City’s First Urban Air Mobility (UAM) Watch Program
On December 10, 2019; Hong Kong Computer Emergency Response Team Coordination Center ("HKCERT") and Microsoft in Hong Kong collaborated to establish the city's first healthcare program. The healthcare sector has adopted technology transformation, moving to Big Data from eHealth Enabled Diagnosis to the Internet of Medical Things (IoMT), where linked wearables enhance patient safety and convenience technology enables the healthcare sector to achieve a smart diagnosis, high efficiency, and improved patient expertise. The importance of cyber security has also increased significantly.
Rising demand for green solutions and for an alternative mode of transportation, and recent technological advancements are some of the major factors driving the growth of the Global Urban Air Mobility Market Growth
In order to support mass movement in cities with expanding populations, transportation infrastructure has to be managed properly. Cities all around the globe are thus looking at other forms of transportation to lessen traffic congestion. The goal of using autonomous drones for urban air mobility is to reduce traffic congestion and pollution while also reducing the amount of present transportation infrastructure that must be used. An important factor fueling this market's expansion is the rise in congestion in densely populated areas. Urban regions' growing road traffic causes long traffic jams, which add extra travel time.
The US Environmental Protection Agency estimates that a typical passenger automobile generates 4.7 metric tonnes of CO2 annually. Additionally, the rise in car ownership in emerging nations like China and India has contributed to an increase in automobile accidents. Additionally, as the number of ground vehicles rises, so does the pollution and the need for parking spaces. During the projected period, this aspect is anticipated to fuel market expansion for urban air mobility. To address the uncertainties related to ground vehicles, UAM is predicted to provide the best answer to these environmental concerns. Existing internal combustion engine (ICE) vehicles will be replaced with battery-powered UAM vehicles, lowering carbon emissions, and enhancing air quality in urban areas.
Worldwide, the urban population is expanding quickly. As a consequence, there are more and more on-road passenger cars in metropolitan areas each year, which leads to an increase in traffic congestion issues. The length of time it took commuters to go by road dramatically rose, especially during specific peak hours. Most nations' current road networks are unable to manage peak-hour traffic without making commuters wait in lines. Citizens' time is being wasted, and governments are being put to the test. Growing numbers of fossil fuel-burning on-road passenger vehicles significantly worsen environmental pollution.
Governments and technology firms have begun to consider UAM as a feasible solution for passenger and freight transport since traffic jams and urban road mobility pose such a significant barrier. There may be considerable time savings since the UAM is a reliable and efficient air travel system that operates passenger-carrying air taxis over urban regions. Additionally, the majority of the air taxis employed by the UAM are fuel cell or electric-powered. As a result, they contribute to lowering air pollution. In this context, a lot of businesses are making major investments in this area, which is anticipated to accelerate technical development once UAM systems start to be used commercially.
Compared to other regions, North America is the market leader in this one. The Boeing Company's existence has also helped to foster a positive environment for the industry since the company is substantially investing in the development of prototypes for testing. In North America, the U.S. is setting the standard for the adoption of this cutting-edge means of transportation. Working together to develop and implement this technology locally is a large number of American start-ups. Over the next five to six years, a schedule will be established for bringing the UAM into commercial usage. The popularity of air taxis and airport transportation services is being driven by the increasing amount of air travel among citizens of major North American cities. Additionally, eVTOL aircraft are probably going to be used extensively for last-mile and freight services in the United States, which will benefit the market expansion in North America.
During the projection period, Europe will have the fastest increase. Although there have been advancements elsewhere, most of these discoveries have been centered on Europe. In urban air transportation technologies, Germany, the U.K., and France are making significant investments. Due to the fact that these companies are making significant investments in constructing prototypes for testing, the presence of Airbus S.A.S. has also contributed to the favorable environment for this industry.
For instance, since 2014, Airbus has been investigating methods to power UAMs using the most current technological advancements in electric propulsion systems. Therefore, in order to expedite the integration of such ground-breaking technology into the UAM services that the firm seeks to provide, the Airbus Urban Mobility division was founded in 2018. As part of the Vertex project, Airbus started investigating additional capabilities in April 2021 with the goal of achieving fully autonomous flying in its Flightlab demonstration by 2023.
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 1.6 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 15.6 Billion
|Tables, Charts & Figures:
|Volocopter GmbH, Kitty Hawk, The Boeing Company, Lilium, Airbus, EHang, Workhorse Group Inc., Neva Aerospace, Pipistrel Group, Opener, and others.
|By Vehicles, By Range, By Operation, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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