New York, USA, April 13, 2022 (GLOBE NEWSWIRE) -- A latest report on the global urban air mobility market has been added by Research Dive to its offerings. As per the report, the market is projected to hit $45,86,312.6 thousand and rise with a remarkable CAGR of 89.8% from 2020 to 2027. The report offers a comprehensive lookout of the present scenario and future scope of the global industry. The report is drafted by expert market analysts and guarantees to be a trustworthy source of data and all-inclusive market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
COVID-19 Impact on the Market Growth:
The rise of the COVID-19 pandemic in 2020 made a negative impact on the growth of the market. This is mostly owing to the disruptions in supply chains during the pandemic, which resulted in delaying of manufacturing processes of UAM aircrafts. However, several leading market players, such as EHang Holdings Limited, are forming effective strategies to survive their business and uphold their market position amidst the crisis period.
Factors Impacting the Market Growth:
Growing traffic jams owing to rising urban population across the world is boosting the growth of the global urban air mobility market. Moreover, the rising need for effective and competent mobility solutions, especially in healthcare sector for ambulance facilities, is likely to unlock profitable opportunities for the market growth during the forecast period. However, high initial costs involved in the infrastructure and research & development of UAM aircrafts is expected to obstruct the market growth.
The report segments the global urban air mobility market into platform, platform operation, range, platform architecture, and region.
Air Taxi Sub-Segments to Dominate the Market Growth
Among the platform segment, the air taxi sub-segment is projected to grab highest market share by garnering $18,66,002.9 thousand during the forecast period. The growth of this sub-segment is mainly because of the growing usage of air taxis to travel across shorter distances.
Intercity Sub-Segments to Lead the Market Growth
Among the range segment, the intercity sub-segment is expected to grab leading market share by garnering $31,85,822.5 thousand during the forecast period. The growth of this sub-segment is mainly because of the growing technical innovations that are fueling the development of efficient UAMs.
Autonomous Sub-Segment to Witness Fast-Paced Growth
Among the platform operation segment, the autonomous sub-segment is expected to undergo speedy growth and garner $28,05,598.9 thousand during the forecast period. The growth of this sub-segment is mostly because of the reductions in the number of human errors due to new inventions in artificial intelligence (AI), rising developments in the autonomous sector, and increasing cost savings in the aviation industry across the world.
Fixed-Wing Hybrid Sub-Segment to Observe Speedy Growth
Among the platform architecture segment, the fixed-wing hybrid sub-segment is expected to experience speedy growth and collect a revenue of $14,99,314.4 thousand during the forecast period. The growth of this sub-segment is mostly because of the sufficient stability of fixed-wing hybrid architecture that facilitates security and comfort of the passengers on board, mainly for the remotely directed or autonomous aircrafts.
Asia Pacific Region to Lead the Market Growth
The report analyzes the global urban air mobility market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market is expected to dominate the market and garner $20,68,427.0 thousand during the estimated period. The growth of this region market is mainly owing to the growing road traffic congestion in city areas and rising need for fast transport services in this region.
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Major Players in the Market:
The report lists some of the leading players functioning in the global urban air mobility industry including
- Kitty Hawk
- Ehang
- Airbus
- Wisk Aero LLC.
- Lilium Gmbh
- Volocopter GmbH
- Workhorse Group Inc.
- Joby Aviation.
- Bell Textron
- Archer Aviation.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in March 2021, Archer, an aerospace company developing an all-electric vertical takeoff and landing aircraft and focused on enhancing mobility in cities, announced its commitment to launch its urban air mobility network in Miami by 2024.
Some Trending Article Links:
- Which Top 3 Companies are in the Process of Designing World-Class Urban Air Mobility?
- Latest UAM-Linked Innovations by Key Players to Promote the Growth of the Global Urban Air Mobility Market in the Forthcoming Years
