Urban Air Mobility Market

Urban Air Mobility Market

Growth Factors of Urban Air Mobility Market

The urban air mobility market size was reached at a value of USD 3.60 billion in 2023, and the market is now projected to grow from USD 4.21 billion in 2024 to USD 16.64 billion by 2032, exhibiting a CAGR of 16.9% during the forecast period of 2023-2032.

The COVID-19 pandemic imposed a negative impact on chemicals market growth as government put restrictions on social gatherings, events and moving out from home which make the people homesick and reduced the need of chemical products among industries purposes due to halt in production and manufacturing which are specifically comes into role for an event, occasion or party purpose hence reduced the urban air mobility market growth.

Increasing requirement for alternative transportation modes to drive market expansion. Growing traffic issues in crowded cities are one of the main factors propelling this market's expansion. Increased road traffic in urban areas causes long traffic jams, which add needless travel time. Furthermore, because UAM efforts have the potential to greatly improve both environmental sustainability and transportation efficiency, government and regulatory organizations promote them. The goal of using autonomous drones for urban air mobility is to reduce pollution, shorten travel times, and ease the strain on the existing transportation network. Growing need for green solutions drives demand for uam will foster market expansion. A passenger car emits 4.7 metric tons of CO2 annually on average, according to the U.S. Environmental Protection Agency. Additionally, as more people own cars in developing nations like China and India, the number of car accidents has increased. Additionally, when the number of ground vehicles rises, pollution levels rise and more parking spaces become available. Throughout the forecast period, this factor is anticipated to fuel the expansion of the urban air mobility market.

Due to increased traffic on the highways, especially during rush hours, commuters had to spend a lot more time driving. Most countries' current road infrastructure cannot handle traffic during peak hours without creating lines of people. It is a challenge to governments as well as a waste of time for citizens. Furthermore, the ecology is being severely harmed by the rising number of passenger vehicles on the road, which burn fossil fuels. Urban road mobility and traffic congestion are major concerns, thus governments and IT companies are starting to explore UAMs as possible passenger and cargo transportation options. This might save a lot of time because passenger-carrying air taxis operate above populated areas in a safe and effective air transportation system.

Comprehensive Analysis of Urban Air Mobility Market

The urban air mobility market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the unmanned systems benefit management industry. These segmentations are methodically segregated by vehicle types, by range and by end users. The vehicle segmentation includes, Air Taxi, Air Metro, Air Ambulance, Last-Mile Delivery, and Other, by range segmentation includes Intercity, and Intracity. However, the end user segmentation includes Ridesharing Companies, Scheduled Operators, E-Commerce Companies, Hospitals, and Medical Agencies and Private Operators.

The North America region lead the urban air mobility market by benefitting a market size of USD 1.47 billion in 2023 due to Increasing requirement for alternative transportation modes and Growing need for green solutions.

The top players in the market play a crucial role in the industry assuring industrial prospectus growth and setting market standards. These players include, Textron Inc. (U.S.), Uber Technologies Inc. (U.S.), Airbus SE (Netherlands), Ehang (China), Safran SA (France), Volocopter (Germany), Lilium Aviation GmbH (Germany), Carter Aviation (U.S.), AIRSPACEX (U.S.), Aurora Flight Sciences (U.S.), these market players provide a level-playing competitive landscape.

In April 2024, The Terra Drone Corporation Group company Unifly declared the completion of the CORUS-XUAM project. The project is a team effort that will change the face of urban air mobility in the years to come.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 16.9% from 2024 to 2032

Unit Value (USD Billion)

Segmentation

By Vehicle Type

- Air Taxis

- Air Metros

- Air Ambulance

- Last-Mile Delivery

- Others

By Range

- Intercity

- Intracity

By Operation

- Piloted

- Autonomous

- Hybrid

By End User

- Ridesharing Companies

- Scheduled Operators

- E-Commerce Companies

- Hospitals and Medical Agencies

- Private Operators

By Geography

- North America (By Vehicle Type, Range, Operation, End User, and Country)

- U.S. (By Vehicle Type)

- Canada (By Vehicle Type)

- Europe (By Vehicle Type, Range, Operation, End User, and Country)

- U.K. (By Vehicle Type)

- Germany (By Vehicle Type)

- France (By Vehicle Type)

- Russia (By Vehicle Type)

- Rest of Europe (By Vehicle Type)

- Asia Pacific (By Vehicle Type, Range, Operation, End User, and Country)

- China (By Vehicle Type)

- India (By Vehicle Type)

- Japan (By Vehicle Type)

- Australia (By Vehicle Type)

- Rest of Asia Pacific (By Vehicle Type)

- Rest of the World (By Vehicle Type, Range, Operation, End User, and Country)

- The Middle East & Africa (By Vehicle Type)

- Latin America (By Vehicle Type)


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