Global Urban Air Mobility Market Size, Share and Industry Forecast
According to a research report published by Spherical Insights & Consulting, the Global Urban Air Mobility Market Size Expected to Grow from USD 4.12 Billion in 2023 to USD 58.52 Billion by 2033, at a CAGR of 30.39% during the forecast period 2023-2033.
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The use of small, fully computerized aircraft to move people or goods within cities and suburbs is known as urban air mobility or UAM. One of the main elements influencing the introduction of UAM is urban congestion. Additionally, the resulting congestion becomes critical as the population and economic activity in urban areas continue to expand. The capacity of the roadways directly affects the traditional forms of transportation by road, such as cars, buses, and trains. Usually, this causes people and products to move slowly. By using urban airspace as an alternate congestion bypass to road traffic, UAM provides a potentially rich route for alleviating these issues while enabling faster and more efficient travel. However, the substantial initial investment is another significant factor impeding the UAM market’s expansion. The creation and implementation of UAM-related technologies require a significant amount of capital.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Urban Air Mobility Market Size, Share, and COVID-19 Impact Analysis, By Range (Intercity and Intracity), By Operation (Piloted, Hybrid, and Autonomous), By End-User (Ridesharing Companies, Scheduled Operators, and E-Commerce Companies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
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The intercity segment is expected to hold the largest share of the global urban air mobility market during the projected timeframe.
Based on range, the global urban air mobility market is categorized as intercity and intracity. Among these, the intercity segment is expected to hold the largest share of the global urban air mobility market during the projected timeframe. These kinds of aircraft are equipped with technology that allows them to fly 50–250 km with two to four passengers and 20–40 kilograms of hand luggage. Additionally, these intercity planes cut the time it takes to get from one city to another in half.
The autonomous segment is anticipated to grow at the fastest CAGR during the forecast period.
Based on the operation, the global urban air mobility market is categorized as piloted, hybrid, and autonomous. Among these, the autonomous segment is anticipated to grow at the fastest CAGR during the forecast period. This growth will be driven by the decrease in human error in aircraft operations brought about by improved autonomy, innovative advancements in artificial intelligence (AI), and higher cost savings in the global aviation industry.
The ridesharing companies segment is expected to grow at the fastest CAGR during the projected timeframe.
Based on the end-user, the global urban air mobility market is categorized as ridesharing companies, scheduled operators, and e-commerce companies. Among these, the ridesharing companies segment is expected to grow at the fastest CAGR during the projected timeframe. The desire for quicker intercity transit choices has increased as a result of rising traffic congestion, particularly in larger cities. In this field, the idea of air travel in cities is becoming more popular. A major participant in the ridesharing industry, Uber helped create a framework for incorporating air taxis and drones into a ridesharing network.
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North America is projected to hold the largest share of the global urban air mobility market over the forecast period.
North America is projected to hold the largest share of the global urban air mobility market over the forecast period. A favorable environment for the industry has also been fostered by the Boeing Company’s presence, as the company is making significant investments in developing prototypes for testing. In North America, the United States is setting the standard for implementing this cutting-edge kind of transportation. These technologies are being developed and implemented locally by numerous American start-ups.
Europe is expected to grow at the fastest CAGR growth of the global urban air mobility market during the forecast period. The majority of these innovations have been concentrated in Europe, despite global advancements. Urban air mobility technology is a major area of investment for the United Kingdom, Germany, and France. Airbus S.A.S.’s presence has also helped to foster a positive environment for this industry since these companies are making significant investments in developing prototypes for testing.
Major vendors in the global urban air mobility market are Airbus, Lilium GmbH, Guangzhou EHang Intelligent Technology Co. Ltd, Eve Holding, Inc., Vertical Aerospace, Textron Inc., Joby Aero, Inc., Embraer Group, Hyundai Motor Company, Archer Aviation Inc., and The AIRO Group, Inc
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In June 2024, Guangzhou EHang Intelligent Technology Co. Ltd. declared that their pilotless electrical vertical takeoff and touchdown (eVTOL) aircraft, the EH216-S, had completed its maiden autonomous air taxi flight in Mecca, Saudi Arabia.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global urban air mobility market based on the below-mentioned segments:
Global Urban Air Mobility Market, By Range
- Intercity
- Intracity
Global Urban Air Mobility Market, By Operation
- Piloted
- Hybrid
- Autonomous
Global Urban Air Mobility Market, By End-User
- Ridesharing companies
- Scheduled Operators
- E-Commerce Companies
Global Urban Air Mobility Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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