Urban Air Mobility Market | Global Industry Brief Analysis by Bis Research

Urban Air Mobility Market to have a significant growth of CAGR 25.71% based on the values during the forecast period from 2023 to 2035. Urban Air Mobility Industry is segregated by region under four major regions, namely North America, Europe, APAC, and Rest-of-the-World.

The urban air mobility (UAM) market an attractive and upcoming business model that is not too far off from reality. Urban-centered air transportation is not a new concept in the mobility industry. Use of air taxis through on-demand helicopter services started in the 1970s, in some of the major cities globally, including Boston. With due course of time, the concepts have reached a level of maturity that currently has the potential to change the shape of aviation using efficient, quiet, and quick transportation services through scheduled and on-demand operations. Urban air mobility can serve a wide range of operations that include passenger transportation as well as cargo deliveries through aerial vehicles and drones, respectively.

Read Report Overview: Urban Air Mobility (UAM) Market

The increasing urban population in most megacities is going to demand an alternate mode of transportation to decrease land traffic congestion, and the best solution for daily commuters is the replacement of existing transportation with aerial transportation. Being a part of the future urban landscape, urban air mobility provides safe, highly automated passenger and cargo-carrying air transportation services in the metropolitan environments for piloted and autonomous aircraft systems. Various companies have been investing directly or indirectly in the urban air mobility industry and have taken numerous initiatives in developing air taxis and personal air vehicles, as well as the necessary infrastructure such as vertiports and unmanned aircraft system traffic management systems for these vehicles to operate safely. Some of the key companies in the urban air mobility market are Lilium GmbH, Acubed, Volocopter GmbH, EHang, and Kitty Hawk.

The urban air mobility market is expected to create an entirely new industry. The manufacturers are continuously taking initiatives to develop various innovative infrastructural concepts, such as better tracking systems and efficient connectivity. The key development focus areas in the urban air mobility industry include improvements in battery technology and other forms of propulsion systems to offer longer ranges and endurances. Based on the recent developments in the global urban air mobility market, aircraft prototypes have already been manufactured and tested in several countries. However, the regulatory framework that governs the urban air mobility industry is yet to certify the vehicles for commercial usage. It is expected that the cargo delivery drones will be commercialized by 2023, but the wide acceptance of passenger transportation is expected to be a bit slow.

The urban air mobility industry analysis by BIS Research projects the market to have a significant growth of CAGR 25.71% based on the values during the forecast period from 2023 to 2035. The Asia-Pacific region is expected to dominate the market by 2035 with a share of 40.10%. The Asia-Pacific region includes China, Japan, South Korea, and Singapore, but China is expected to acquire a major share in 2035 due to the increase in the population and traffic congestion in megacities in the country.

The urban air mobility market has gained huge importance in the past few years. This is due to the rising demand for an alternate mode of transportation that is quicker and more efficient than the current transportation services. Several government agencies and associations have started drafting policies and regulations to make sure that the airspace is managed to enable higher and safer operations of the aircraft and drones.

Competitive Landscape

The competitive landscape of the urban air mobility market consists of various organic and inorganic strategies followed by the key players to increase their market share and market presence. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.

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Some of the key players in the global urban air mobility market include Acubed, Airspace Experience Technologies, Aurora Flight Sciences, Bell Textron Inc, Delorean Aerospace, EHang, EVE Air Mobility, Honeywell International, Jaunt Air Mobility LLC, Joby Aviation, Kitty Hawk, Lilium, Neva Aerospace, Opener, and Pipistrel, Volocopter GmbH, among others. These companies are aiming for a wide range of product launches and collaborations to expand their operations and increase their market presence globally to generate revenues and attract new customers.


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