Pune India, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Urban Air Mobility Market Size By Vehicle Type (Air Taxis, Air Ambulances, Air Metro, Last-mile Delivery, and Others), By Range (Intercity, and Intracity), By Application (Passenger Transport and Freighter), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the urban air mobility market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the urban air mobility market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the vehicle type, range, application, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global urban air mobility market are Volocopter, Airbus, Bell Helicopter, Joby Aviation, Kitty Hawk, Boeing, Terrafugia, Pipistrel, Neva Aerospace. among others. To achieve a substantial market share in the worldwide urban air mobility market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The movement of people utilising a tiny, highly automated aircraft capable of carrying cargo and passengers at lower altitudes in suburban and urban regions that have been designed to assist alleviate traffic congestion on the road is known as urban air mobility. Existing vehicles such as classic helicopters, vertical-takeoff-and-landing aircraft (VTOL), electrically driven vertical-takeoff-and-landing aircraft (eVTOL), and unmanned aerial vehicles are also examples of air mobility vehicles (UAVs). Fly-by-wire technologies are used to control these urban air mobility vehicles, which use several electric-powered fans for propulsion and lift. In medical situations, air transport advantages a variety of commercial and civil purposes. Urban air mobility is seen as a safer and more efficient means of transportation. Several aerospace businesses are investing and focusing more on technological development at a rapid speed in order to advance the technology of air mobility vehicles. As an effective alternative method of transportation, many urban air mobility vehicles such as eVTOLs, VTOLs, and STOLs have been introduced. eVTOL is most useful in the middle and last mile of goods transportation and medical services. These sorts of aircraft are also termed ride-sharing aircraft and are less expensive than helicopters.
Scope of Urban Air Mobility Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Vehicle Type, Range, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Volocopter, Airbus, Bell Helicopter, Joby Aviation, Kitty Hawk, Boeing, Terrafugia, Pipistrel, Neva Aerospace. among others. |
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Segmentation Analysis
The air taxis segment is expected to be the fastest-growing segment in 2022.
The vehicle type segment is air taxis, air ambulances, air metro, last-mile delivery, and others. The air taxis segment is expected to witness the highest growth rate during the forecast period. The market's quick technical advancement may have led to the segment's rise. Furthermore, the segment's rise is supported by the air tax's highly efficient batteries and advanced production procedures.
The intercity segment is expected to be the fastest-growing segment in 2022.
The range segment is intercity and intracity. The intercity segment is expected to witness the highest growth rate during the forecast period. Intercity planes are built with technology that allows them to transport 2 to 4 passengers and 20 to 40 kg of hand luggage over distances ranging from 50 to 250 kilometres, encouraging the segment's growth.
The passenger transport segment is expected to be the fastest-growing segment in 2022.
The application segment is passenger transport and freighter. The passenger transport segment is expected to witness the highest growth rate during the forecast period. Because the UAM is a safe and efficient air transportation system in which passenger-carrying air taxis operate above inhabited areas, significant time savings may be realised. Furthermore, the UAM's air taxis are largely electric or fuel-cell powered. As a result, they contribute to the reduction of atmospheric pollution. Many corporations are spending heavily in this industry, which is projected to promote market technological developments in the long term once UAM systems approach the commercial usage phase.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the urban air mobility include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The North America region witnessed a major share. The presence of important manufacturers in the region, such as The Boeing Company, has resulted in the expansion of the region's urban air mobility market. Furthermore, the increasing usage of urban air mobility vehicles fueled the region's market expansion.
Country Analysis
- Germany
Germany's urban air mobility market size was valued at USD 1.95 billion in 2022 and is expected to reach USD 20.5 billion by 2030, at a CAGR of 34.2% from 2023 to 2030.The European urban air mobility market is predicted to grow at the quickest rate over the forecast period. Countries in this region, especially Germany, are investing heavily in the development and acquisition of advanced eVTOL systems for commercial usage.
- China
China’s urban air mobility market size was valued at USD 2.02 billion in 2022 and is expected to reach USD 21.6 billion by 2030, at a CAGR of 34.5% from 2023 to 2030. The government also plans to establish larger-scale air mobility activities in preparation for the 2025 Osaka-Kansai Japan World Expo. Government plans to use UAM transportation are prompting businesses to invest in the technology. In September 2021, EHang announced a strategic partnership with Shenzhen East General Aviation (Heli-Eastern), a helicopter service provider, to explore and deploy UAM operations in Shenzhen, China's authorised integrated airspace for helicopters and AAVs.
- India
India's urban air mobility market size was valued at USD 1.5 billion in 2022 and is expected to reach USD 15.9 billion by 2030, at a CAGR of 34.4% from 2023 to 2030. Many investments have been made in the research and development of urban air mobility vehicles, giving a potential opportunity in the region during the forecast period.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the urban air mobility market is mainly driven by the growing urban population.
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