Urban Air Mobility Market Size, Share & Trends Analysis Report By Component, By Type, By Maximum Take-off Weight, By Propulsion, By Operation, By Range, By Application, By Product, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Urban Air Mobility Market Size, Share & Trends Analysis Report By Component, By Type, By Maximum Take-off Weight, By Propulsion, By Operation, By Range, By Application, By Product, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Urban Air Mobility Market Size & Trends

The global urban air mobility market size was estimated at USD 3.58 billion in 2023 and is expected to grow at a CAGR of 34.2% from 2024 to 2030. The market growth is attributed to the rising need for faster and more efficient transportation amid rapid urbanization and a growing global population. Traffic congestion in urban areas has become a major concern, which makes urban air mobility (UAM) a potential solution that can improve commuting within cities, reduce travel times, and subsequently improve the quality of life for urban residents. Besides, as ride-hailing services have created a demand for flexible and convenient transportation, UAM vehicles can become the next generation of on-demand transportation. These factors are expected to open remunerative growth avenues for the UAM market over the coming years.

The continued technological advancements in mobility solutions are further fueling the growth of UAM market. For instance, the developments in electric propulsion systems and autonomous flight control are making electric vertical take-off and landing (eVTOL) vehicles a viable option for urban air mobility applications. These vehicles are more environmentally friendly, which aligns with the growing consumer preference for sustainable mobility solutions. Moreover, advancements in battery energy density and charging infrastructure are crucial for enabling longer range and shorter charging times for UAM vehicles, which will drive their adoption and commercial viability.

The growth potential of UAM market is attracting several public-private partnerships. For instance, in February 2024, Joby Aero, Inc. signed an agreement with Dubai’s Road and Transport Authority (RTA) to introduce air taxi services in the country by early 2026. The company intends to commence the initial operations as early as 2025. This deal provides exclusive rights to operate air taxis in Dubai for the next six years.

The market growth is being further driven by increasing government investments to enhance air mobility. For instance, in February 2024, Vertical Aerospace received USD 10 million in funding from the U.K. Government, as a part of the Aerospace Technology Institute (ATI) Program, to deliver next-generation propellers to be used in its VX4 aircraft. This initiative is aimed at strengthening the country’s position in the global market of urban air mobility, which aims to transform the way people travel around and between cities, providing a green and low noise means of transport.

Urban Air Mobility Market Report Segmentation

This report forecasts and estimates revenue growth at the global, regional, and country levels along with analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global urban air mobility market report based on component, type, maximum take-off weight, propulsion, operation, range, application, product, end use, and region.

• Component Outlook (Revenue, USD Million, 2018 - 2030)
• Hardware
• Aerostructure
• Avionics
• Flight Control System
• Propulsion System
• Others
• Software
• Type Outlook (Revenue, USD Million, 2018 - 2030)
• Air Taxis
• Air Metros & Air Shuttles
• Personal Air Vehicles
• Cargo Air Vehicles
• Air Ambulances & Medical Emergency Vehicles
• Last-Mile Delivery Vehicles
• Maximum Take-off Weight Outlook (Revenue, USD Million, 2018 - 2030)
• <100 Kg
• 100 – 300 Kg
• >300 Kg
• Propulsion Outlook (Revenue, USD Million, 2018 - 2030)
• Gasoline
• Electric
• Hybrid
• Operation Outlook (Revenue, USD Million, 2018 - 2030)
• Remotely Piloted
• Fully Autonomous
• Hybrid
• Range Outlook (Revenue, USD Million, 2018 - 2030)
• Intracity (Below 100 km)
• Intercity (Above 100 km)
• Application Outlook (Revenue, USD Million, 2018 - 2030)
• Passenger Transport
• Freighter
• Product Outlook (Revenue, USD Million, 2018 - 2030)
• Fixed Wing
• Rotary Blade
• Hybrid
• End Use Outlook (Revenue, USD Million, 2018 - 2030)
• E-Commerce
• Commercial Ridesharing Operators
• Private Operators
• Medical Emergency Organizations
• Others
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Middle East and Africa (MEA)
• UAE
• Saudi Arabia
• South Africa

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