Vertical Mobility Market By Type (Air Taxi, Drone, Others) , By Service Type (Inspection, Good Delivery, Passenger, Support Service) By End-user (Military, Commercial) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Vertical Mobility Market
The vertical mobility market was valued at $7.3 billion in 2023 and is projected to reach $23.2 billion by 2033, growing at a CAGR of 12.5% from 2024 to 2033.
Vertical mobility involves the movement of individuals or objects from ground level to different vertical levels in the air. This is typically accomplished using technologies such as urban air mobility and vertical takeoff & landing aircraft. These types of aircraft are particularly designed for short-distance operations in urban environments. The benefits of using vertical mobility include alleviation of urban mobility, easy access to remote & hard-to-reach areas, and quick on-demand mode of transportation.
Exponentially increasing urbanization has resulted in excessive congestion, traffic jams, and crowds in cities. This fuels the need for alternative modes of transportation to bypass road traffic, which drives the growth of the vertical mobility market. Furthermore, innovations in technology such as electric propulsion systems, autonomous flight systems, and fast charging times augment the market development significantly. A notable trend acquiring traction in the vertical mobility market is the prioritization of sustainability. Manufacturers are focusing on the incorporation of ingenious features & materials such as carbon fiber composites, renewable energy, and lithium-ion batteries to reduce the carbon footprint associated with the development & operation of vertical mobility systems.
However, the uncertain regulatory landscape of vertical mobility established by regulatory bodies such as the U.S. Federal Aviation Administration and the European Union Aviation Safety Agency delays the approval process, hampering the development of the market. On the contrary, the ability of vertical mobility to support multiple industries, including goods, inspection, and passenger services is anticipated to present lucrative opportunities for the market. For instance, Porsche Consulting—a leading management consultancy in Germany—predicts that vertical mobility exhibits the potential to make the goods, inspection, and passenger services industry worth $74 billion collectively by 2035. Therefore, the vertical mobility market is currently at an infant stage and is poised to witness several new avenues in the future.
Segment ReviewThe vertical mobility market is segmented into type, service type, end user, and region. On the basis of type, the market is divided into air taxi, drone, and others. Depending on service type, it is classified into inspection, good delivery, passenger, and support service. As per end user, it is bifurcated into military and commercial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the drone segment is expected to dominate the market during the forecast period.
Depending on service type, the passenger segment is projected to account for a high share of the market from 2024 to 2033.
As per end user, the commercial segment is predicted to be the highest shareholder throughout the forecast period.
Region wise, North America is anticipated to be the highest revenue generator by 2033.
Competition AnalysisThe leading players in the global vertical mobility market include Airbus S.A.S., Aurora Flight Sciences Corporation, Lilium GmbH, SkyDrive Inc., SureFly, Vahana, Volocopter GmbH, VotAero, EHang, and Embraer SA. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeAir Taxi
Drone
Others
By Service TypeInspection
Good Delivery
Passenger
Support Service
By End-userMilitary
Commercial
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersAirbus S.A.S.
Aurora Flight Sciences Corporation.
Lilium GmbH
SkyDrive Inc.
SureFly
Vahana
Volocopter GmbH
VotAero
EHang
Embraer SA