New York, NY -- (SBWIRE) -- 01/28/2021 -- Increasing requirements for an efficient mode of logistics & transportation is stimulating market growth.

Market Size – USD 3.10 billion in 2023, Market Growth - CAGR of 25.9%, Market Trends –Demand for an alternative mode of transportation in urban mobility 

The urban air mobility market is estimated to reach USD 15.54 Billion from USD 3.10 Billion in 2023, delivering a CAGR of 25.9% through 2030. The market growth is driven by the mounting need for enhancing operational efficiency along with the reduction in human intervention for intracity and intercity transportation with eVTOLs.

The Global Urban Air Mobility Market report gives a comprehensive overview of the Urban Air Mobility market scenario to present accurate forecasts of the upcoming years with special focus on the competitive landscape, market segmentation, current and emerging trends, and strategic recommendations to help readers gain a robust footing in the market. The report also focuses on the comprehensive analysis of the competitive landscape along with descriptive company profiles, market share, product portfolio, financial standings, market reach, global position, and strategic business expansion plans.

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Some of the players profiled in the report are AIRSPACEX, CityAirbus (Airbus Helicopters), Airbus A3, Aurora Flight Sciences (A Boeing Company), Lilium Aviation, Bartini, Carter Aviation, Passenger Drone, Vimana, Joby Aviation, Volocopter, Workhorse, Kitty Hawk / Zee Aero, Terrafugia, AviaNovations, hopFlyt, Delorean Aerospace, Hoversurf, Japan Aerospace Exploration Agency, Jetpack Aviation, XTI Aircraft, Embraer, Pipistrel, and VerdeGo Aero.

Further key findings from the report suggest

- Based on platform, the air metro segment is estimated may have a viable market in 2028, with a revenue generation of USD 0.9 billion in the first year. Estimates suggest that the number of vehicles would reach up to 23,000 in 2030 from 4,100 in 2028.

- The demand for air metros is likely to gain traction as it resembles the current public transit options like buses & subways with pre-determined routes, set stops in high traffic areas across each city, and regular schedules.

- The airport shuttle and air taxis segment is anticipated to contribute significantly to the Global Urban Air Mobility Market share with a total available market value of approximately USD 500 Billion at the market entry price points.

- In the United States, air taxis are estimated to have a potential demand of nearly 55,000 daily trips, which can be equivalent to the purpose served by 4,000 aircraft. The annual market value for air taxis is estimated to be around USD 2.5 Billion for the initial years of operation.

- On the basis of operations, the Urban Air Mobility market has been segmented into autonomous and piloted. The autonomous sub-segment is forecast to account for the majority of the market revenue share as autonomous eVTOLs are better suited for cargo and passenger transportation. It is highly likely that they will be increasingly used for intercity transportation. Autonomous eVTOLs are equipped with proven technology for human-free operations and high-quality sensors, hence are suitable for operations in urban areas.

- In the regional landscape, Europe is forecast to be a major regional ground for the urban air mobility market. The UAM initiative undertaken by the European Innovation Partnership on EIP-SCC (Smart Cities and Communities) has been taken into consideration by various European countries to explore the potential of drones in an urban context. Countries in this region, such as France and Germany, are investing heavily in procurement as well as the development of advanced eVTOL systems for commercial operations, which may supplement the Urban Air Mobility market revenue share through 2030.

- The Asia Pacific region is estimated to register the second-highest growth rate of 31.2% over the projected timeframe. The robust growth can be attributed to high investments made by several flying car companies, like Macchina Volantis, an Australian industry player is gearing up to build a prototype of its road-drivable 5-seat electric aircraft.

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The Global Urban Air Mobility Market is segmented as follows:

Component Outlook (Revenue, USD Million; 2023-2030)

- Infrastructure
o Charging Stations
o Vertiports
o Traffic Management

- Platforms
o Air taxis
o Air Shuttles
o Air Metro
o Air Ambulance
o DroNav
o Personal Aerial Vehicle

Operation Outlook (Revenue, USD Million; 2023-2030)
- Piloted
- Autonomous
- Hybrid

Range Outlook (Revenue, USD Million; 2023-2030)
- Intercity (100 Kilometers to 400 Kilometers)
- Intracity (20 Kilometers to 100 Kilometers)

Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Point Summary of the Report:

The global Urban Air Mobility market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.

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The study also analyses the crucial market aspects, including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.

The Global Urban Air Mobility Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter's Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.

Key Coverage of the Urban Air Mobility Market:

- Insightful information regarding the global Urban Air Mobility market
- Identification of growth in various segments and sub-segments of the Urban Air Mobility market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations

To summarize everything stated above, the report offers key insights into the Urban Air Mobility market to allow the reader to gain a complete understanding of the Global Urban Air Mobility Market through accurate estimations, a panoramic view of the market scenario, competitive landscape, factors influencing the growth of the market, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study offers an in-depth view of the industry to offer a competitive edge to the reader and help them in formulating beneficial investment plans. The report provides a comprehensive overview of the market with facts relating to the past, present, and future of the Global Urban Air Mobility Market.

Global Urban Air Mobility Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2021-2030

Chapter 3. Indicative Metrics

Chapter 4. Urban Air Mobility Market Segmentation & Impact Analysis

Continued……….

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