Global Urban Air Mobility Industry Report 2021 is a professional and in-depth survey on the current state of the Urban Air Mobility Market. The report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Urban Air Mobility Market analysis is provided for the international market including development history, competitive landscape analysis, and major regions’ development status.
The urban air mobility market was valued at US$ 6,384.9 million in 2019 and is projected to reach US$ 23,250.3 million by 2034. The Urban air mobility market is expected to grow at a CAGR of 17.5% during the forecast period of 2020 to 2027.
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A minimum of three and a maximum of five-six passengers can travel by urban air mobility passenger carriers. In rural areas, more than six passengers travel by three-wheeler passenger carriers as per requirement. Increasing traffic congestions in urban cities is major factor driving the market growth. As the world’s urban population grows, traffic congestion has been seriously affecting people’s quality of life and taking a toll on general economic growth. For example, according to INRIX (a traffic analysis firm), a U.S. commuter spends approximately 41 hours in traffic each year during peak congestion times. It also mentioned that traffic congestions had cost U.S. drivers approximately US$ 305 Bn in 2017, implying an average of US$ 1,445 per driver. Furthermore, the U.S. Environmental Protection Agency estimated an average passenger car emits 4.7 metric tons of carbon dioxide each year. Furthermore, car accidents have surged, along with increasing vehicle ownership in developing countries such as India and China. According to the World Health Organization (WHO), roughly 1.25 million people are killed in car accidents each year, reaching to about 3,400 deaths per day. This does not consider the millions of injuries incurred in non-fatal accidents.
Leading Urban Air Mobility market Players:
Airbus SAS., Aurora Flight Sciences, Airspace Experience Technologies, Inc., Bell Textron Inc., EHang Intelligent Technology Co. Ltd, EmbraerX, Jaunt Air Mobility LLC, Kitty Hawk, Moog Inc., Volocopter GmbH
The global urban air mobility market is segmented by type into passenger carrier and goods carrier. Based on fuel type, the urban air mobility market is segmented into Diesel, Petrol, CNG, LPG, and Electric. Increasing demand for electric urban air mobility, and increasing population, and increasing need for a vehicle that helps in traffic congestion in the region have been bolstering the growth of the global urban air mobility market.
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Urban air mobility Market Insights
Aviation and Autonomous Driving Technology Advancements:
Advances in aviation technologies are creating the potential to provide convenient and efficient on-demand transportation for people and cargo in metropolitan areas. Urban Air Mobility (UAM) is a transportation concept that has the potential to reconstruct societal mobility. It proposes highly affordable, accessible, and fast urban air transit, which would reduce ground-based congestion by off-loading the existing roadways transportation infrastructure. UAM relies on the gain in technologies such as distributed electric propulsion, new business models such as application-based ride-sharing, and trends in advanced aerospace manufacturing that will reduce production costs. Increasing the credit of vehicle automation and autonomous vehicle operations will be critical in achieving the autonomous UAM vision. Autonomy will be needed for an economically viable transportation system capable of supporting the high anticipated demand. Significant increases in the technological maturity of stable, maneuverable, vertical takeoff and landing (VTOL) vehicle, and highly automated flight are primarily going to propel the UAM industry.
Platform -Based Market Insights:
The urban air mobility market is bifurcated on basis of platform into air taxi, passenger aerial vehicle, cargo aerial vehicle, and air ambulance. Broad array of applications are present for UAM which facilitates easy and rapid transportation of cargo as well as human being. These UAMs are extensively utilized for the transportation of small items, medical products, and carries passengers as well. However, these mobility solutions have their own flying limits depending upon their usage. UAM vehicles are neither allowed to fly at a low range as it would hit the mid-sized and tall buildings nor at a high range to hit any airlines.
Reason to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Urban Air Mobility market.
Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
The key findings and recommendations highlight crucial progressive industry trends in the Urban Air Mobility market, thereby allowing players to develop effective long term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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