The global urban air mobility market was valued at USD 3.58 billion in 2023 and is anticipated to reach USD 29.19 billion by 2030, expanding at a CAGR of 34.2% from 2024 to 2030. This significant growth is driven by the increasing demand for faster, more efficient transportation options in response to rapid urbanization and rising global population levels.
With urban traffic congestion becoming a critical issue, UAM presents a viable alternative to traditional transport by offering faster intra-city commuting, helping to ease traffic pressure and improve the overall quality of life in cities. Additionally, the popularity of ride-hailing services has set a precedent for on-demand mobility, positioning UAM vehicles as the next frontier in urban transportation solutions. These trends are expected to create lucrative opportunities for the UAM industry in the years ahead.
Key Market Insights:
- North America dominated the market in 2023, contributing over 40% of the global revenue share. This leadership is due to strong technological advancements and a growing focus on sustainable solutions to combat increasing urban congestion.
- By component, the hardware segment held the largest revenue share at approximately 59% in 2023. The growth is attributed to the crucial role of components such as airframes, engines, propulsion systems, and avionics, coupled with continuous innovations in these areas.
- Based on type, air taxis led the market in 2023. These vehicles promise significantly shorter travel times by avoiding surface traffic, making them ideal for short-distance travel within urban environments.
- In terms of propulsion, the electric segment captured the largest revenue share in 2023, driven by growing preference for environmentally friendly alternatives. Battery-powered UAM vehicles emit no operational emissions, setting them apart from traditional fuel-based aircraft.
- By operation, the remotely piloted segment accounted for a considerable market share in 2023, owing to rising urbanization and the need for dependable, high-efficiency transport within city limits.
- On the basis of range, the intracity segment held the largest share in 2023. The increasing demand for faster, short-range transport solutions to navigate dense urban landscapes is fueling the growth of this segment.
- By application, passenger transport remained the dominant segment in 2023, driven by the growing need for quicker alternatives to traditional commuting amid worsening city congestion.
- In terms of product, the rotary blade segment led the market in 2023. Rotary-wing vehicles, like helicopters, are ideal for UAM as they offer vertical take-off and landing (VTOL) capabilities, crucial for operating within space-constrained urban areas.
- By end-use, the private operators segment captured a significant revenue share in 2023. UAM vehicles are increasingly being used by businesses to enhance workforce mobility, particularly for employee travel between office locations or to off-site meetings across cities.
Order a free sample PDF of the Urban Air Mobility Market Intelligence Study, published by Grand View Research.
Market Size & Forecast
- 2023 Market Size: USD 3.58 Billion
- 2030 Projected Market Size: USD 29.19 Billion
- CAGR (2024-2030): 34.2%
- North America: Largest market in 2023
- Asia Pacific: Fastest growing market
Key Companies & Market Share Insights
Key players in the urban air mobility market include Guangzhou EHang Intelligent Technology Co. Ltd., Airbus, Lilium GmbH, Joby Aero, Inc., and Embraer Group, among others.
- Lilium GmbH focuses on developing high-speed, sustainable regional air transportation and collaborates with partners across the U.S., Europe, Asia, and the Middle East.
- Guangzhou EHang specializes in autonomous, eco-friendly air mobility solutions, offering UAV systems for passenger transport, logistics, aerial media, and smart city applications.
- Joby Aero, Inc., based in the U.S., develops all-electric VTOL air taxis for urban mobility and has partnered with major companies like Toyota and Uber to advance aerial ridesharing.
Key Players
- Hyundai Motor Company
- Archer Aviation Inc.
- The AIRO Group, Inc.
- Wingcopter GmbH
- BETA Technologies, Inc.
- Volocopter GmbH
- Uber Technologies, Inc.
- Safran Group
Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.
Conclusion
In conclusion, the urban air mobility market is poised for transformative growth as cities worldwide grapple with increasing congestion and seek innovative transportation solutions. UAM offers a promising alternative to ground-based travel, with benefits such as reduced commute times, improved urban connectivity, and sustainable operations. The market is being propelled by strong technological innovation, supportive regulatory frameworks, and rising demand for on-demand mobility. As major players continue to invest in advanced electric and autonomous air vehicles, urban air mobility is expected to become an integral part of future smart city infrastructure, reshaping how people and goods move within metropolitan areas.
No comments:
Post a Comment