Advanced Air Mobility Market Size, Share & Trends Analysis Report By Maximum Take-off Weight, By Component, By Application, By End-user, By Operating Mode, By Type, By Product, By Propulsion Type, By Range, And Segment Forecasts, 2023 - 2035

Advanced Air Mobility Market Growth & Trends

The global advanced air mobility market size is expected to reach USD 137.11 billion by 2035, growing at a CAGR of 24.6% from 2023 to 2035, according to a new study by Grand View Research, Inc. The development of flight technologies and modern aircraft designs is anticipated to add to the demand in the market. Moreover, the increasing issue of vehicular traffic congestion around the world is further expected to drive the demand for Advanced Air Mobility (AAM) solutions to transport cargo and people. The drone type segment is anticipated to record a CAGR of 23.6% over the forecast period as a result of the application of drones in e-commerce, healthcare, and logistics, among other sectors. Furthermore, the market is anticipated to grow due to the trend of autonomous flight and controls as it helps increase flight efficiency and reduce fuel consumption.

The fully autonomous operating mode segment is expected to witness a CAGR of 27.6% over the forecast period due to the investment in automation technology by industry players to attain full autonomy. In addition, partnerships and collaborations between companies in the AAM industry is a key factor for the market growth. For instance, in May 2023, Supernal LLC and Inmarsat Global Ltd. entered into a partnership to deploy satellite connectivity in advanced air mobility. In addition, the developments in electrical propulsion systems are anticipated to be a key factor for market growth. The cost-effective and minimal carbon output advantages of electrical propulsion are predicted to attract companies to develop innovative solutions. The electric propulsion type segment held a share of around 71% in 2022 due to its high efficiency and minimum noise.

Advanced Air Mobility Market Report Highlights

• The hardware component segment recorded the highest share of 84.7% in 2022 owing to the growing demand for aerostructures and avionics used in AAM solutions
• The surveillance & monitoring application segment dominated the market with a share of 23.41% in 2022 due to the use of drones for inspection in remote and inaccessible areas
• The commercial end-user segment is expected to grow at a significant CAGR of 25.3% from 2023 to 2035 owing to the investment in urban air mobility by market leaders
• The rotary blade product segment dominated the market with a share of over 70% in 2022
• Based on maximum takeoff weight, the <100 kg segment dominated the market with a share of over 80% in 2022 due to the use of lightweight drones in logistics, surveying, mapping, monitoring, security, and law, among other applications
• The intracity (20km-100km) range segment accounted for the largest revenue share of over 92% in 2022
• North America accounted for the largest revenue share of 38.2% in 2022 owing to the adoption of drones for various commercial applications in the region

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