Global Urban Air Mobility Market to Reach $28.5 Billion by 2030: High Demand for Shorter Lead Time Presents Opportunities

DUBLIN, July 10, 2023 /PRNewswire/ -- The "Global Urban Air Mobility Market by Component (Infrastructure Solutions, Platform), Platform Operation (Piloted, Autonomous), Range (Intercity, Intracity), Platform Architecture, Systems, End User and Region - Forecast To 2030" report has been added to ResearchAndMarkets.com's offering.

The urban air mobility market is projected to grow from USD 3.8 billion in 2023 to USD 28.5 billion by 2030, at a CAGR of 33.5% from 2023 to 2030.

Various factors, such as the need for sustainable aviation in urban areas and increasing urban congestion, drive the market for urban air mobility. However, limited regulatory framework and public psychological obstacles involving UAM are limiting the overall growth of the market.

Cargo Air Vehicles: The second largest share in mobility type segment in the urban air mobility market in 2023

The cargo air vehicles segment is projected to have the second-largest share in 2023. Cargo air vehicle manufacturing companies are focusing on the use of aerial cargo vehicles to deliver light and heavy cargo for intercity and intracity deliveries.

The commercial logistics industry uses cargo air vehicles for applications such as inventory management, inventory tracking, parcel delivery, delivery of medical supplies, and food delivery. Thus, the increasing use of cargo air vehicles in commercial logistics is driving the urban air mobility market.

E-commerce Companies: The second largest share in end-user segment in the urban air mobility market in 2023

The E-commerce companies segment is projected to have the second-largest share in 2023. E-commerce companies have become integral participants in the urban air mobility (UAM) ecosystem. They actively contribute to the evolution of delivery services by harnessing UAM technology.

By partnering with UAM service providers or establishing their own delivery networks, e-commerce companies optimize their logistics operations for enhanced efficiency and speed. The collaboration between e-commerce and UAM facilitates innovative solutions for last-mile delivery, elevating the customer experience and driving the growth of the e-commerce industry.

Fixed-wing Hybrid: The second largest share in platform architecture segment in the urban air mobility market in 2023

The fixed-wing hybrid segment is projected to have the second-largest share in 2023. Fixed-wing hybrid aircraft in urban air mobility (UAM) has experienced remarkable growth. Fixed-wing hybrid urban air mobility (UAM) aircraft combine the benefits of fixed-wing airplanes and electric propulsion systems.

These aircraft use a combination of electric motors and traditional combustion engines, providing both power and lift. They are well-suited for longer-distance trips and can leverage existing airport infrastructure. The growth of this segment is due to ongoing efforts to enhance efficiency, reduce emissions, and promote sustainability in urban air transportation.

The European region is estimated to have the second largest share in the urban air mobility market in 2023

Europe is estimated to account for the second-largest share in urban air mobility in 2023. The European region for this study comprises France, the UK, Russia, Germany, Italy, Switzerland, and the Rest of Europe. Urban air mobility in Europe has experienced a remarkable surge in recent years.

The growth of the segment is due to actively embracing developments in electric vertical takeoff and landing (eVTOL) aircraft and autonomous drones to revolutionize transportation within urban areas. Countries like Germany and the Netherlands are investing in the development of dedicated infrastructure and urban air mobility hubs. The European Union is also playing a crucial role by establishing regulatory frameworks to ensure the safe integration of drones and eVTOL aircraft into urban airspace.

Premium Insights

• Need for Alternative Modes of Transportation in Urban Areas
• Ridesharing Companies to Secure Maximum Market Share During Forecast Period
• Autonomous Segment to Record Highest CAGR by 2030
• UK to be Fastest-Growing Country Between 2023 and 2030       

Market Dynamics

Drivers

• Increased Urban Congestion
• Technological Advancements in Uam Industry
• Need for Fast and Effective Transportation
• Rise in Environmental Concerns
• Smart City Initiatives

Restraints

• Limited Regulatory Framework
• Psychological Obstacles Involving Uam

Opportunities

• High Demand for Shorter Lead Time
• Need for Sustainable Development

Challenges

• Cybersecurity Concerns
• Lack of Skilled Labor

Use Case Analysis

• Use of Drones for Delivery by Wing
• Need for High-Range Cargo Drones
• Designing of Cost-Effective All-Electric Mid-Range Aircraft

Companies Mentioned

• Air Vev Ltd.
• Airbus Se
• Airo Group Holdings, Inc.
• Archer Aviation Inc.
• Autoflight Limited
• Beta Technologies, Inc.
• Ehang
• Electra Aero, Inc.
• Eve Holding, Inc.
• Ferrovial S.A.
• Hyundai Motor Company
• Joby Aviation, Inc.
• Lilium Aviation GmbH
• Manta Aircraft S.R.L.
• Overair, Inc.
• Plana
• Skydrive Inc.
• Skyfly Technologies Ltd.
• Skyports Limited
• Textron Inc.
• Transcend Air Corporation
• Vertical Aerospace
• Volocopter GmbH
• Wingcopter GmbH
• Wisk Aero LLC

For more information about this report visit https://www.researchandmarkets.com/r/nq214a

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SOURCE Research and Markets

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