Global urban air mobility market is expected to generate $5.32 billion in 2023 and is estimated to grow at a CAGR of 26.19% during 2023-2035
NEW YORK, June 3, 2019 /PRNewswire/ --
Global Urban Air Mobility (UAM) Market to Grow at a CAGR of 26.19% from 2023-2035
Read the full report: https://www.reportlinker.com/p05779387/?utm_source=PRN
The global urban air mobility market is expected to witness significant growth over the forecast period 2023-2035, due to the rising demand for UAVs in civil and commercial applications and increasing need for efficient transportation.Urban air mobility provides safe and efficient transportation using piloted and autonomous aircrafts for intracity and intercity commutation.
Huge investments from aircraft manufacturers, infrastructure providers, and airspace integration researchers have been made for urban air mobility operations, alongside other operations in the airspace.The urban air mobility is expected to be used for several operations, such as humanitarian missions, weather monitoring, ground traffic assessment, emergency medical evacuations, news gathering, package delivery, rescue operations, and passenger transport.
The growing human intervention for intercity and intracity transportation using eVTOL and growing smart city investments for urban air mobility are expected to create significant opportunity in the global urban air mobility market.
Moreover, the emergence of More Electric Aircraft (MEA), increasing demand for eVTOL aircraft in commercial applications, on-demand urban air transportation, growing importance of VTOL aircraft in cargo transportation, and increasing usage in humanitarian relief operations are some of the opportunities for the growth of the global urban air mobility market.
According to the analysis, the global urban air mobility market is expected to generate $5.32 billion in 2023 and is estimated to grow at a CAGR of 26.19% during 2023-2035. North America is expected to dominate the global urban air mobility market in 2023 with the U.S. acquiring the most significant market share, globally. However, Singapore is expected to have the highest growth rate during the forecast period.
Following points provide a detailed description of the report content and the topics covered in the report:
• This report identifies the global urban air mobility market under different segments such as aircraft type, infrastructure, use case, operations, travel range, and region.
• It examines the prime supply-side factors, which affect the growth of the market, and the current and future trends, market drivers, restraints, and challenges prevalent in the global urban air mobility market.
• The report also highlights the value chain of the industry with primary focus on the technological roadmap.
• Detailed competitive analysis, which focuses on the ¬key market developments and strategies followed by the top players in the market, has been included in this report. Additionally, the competitive benchmarking map has been included in the existing study, analyzing the competitive strength of the players in the global urban air mobility market.
• The global urban air mobility market has been analyzed in the report for the major regions ? North America, Europe, Asia-Pacific, and Rest-of-the-World.
• A detailed Porter's Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the global urban air mobility market.
• The study provides detailed analysis of 15 key players in the global urban air mobility market, namely Airbus, Airspace Experience Technologies, Aurora Flight Sciences, Bell Helicopter, Boeing, Delorean Aerospace, Embraer, Karem Aircraft, Kitty Hawk, Lilium, Neva Aerospace, Opener, Pipistrel, Siemens, and Volocopter in the company profiles section. This section covers business financials, company snapshots, key products and services, major developments, and the individual SWOT analysis.
Executive Summary
Urban air mobility provides safe and efficient transportation using piloted and autonomous aircrafts for intracity and intercity commutation.Huge investments from aircraft manufacturers, infrastructure providers, and airspace integration researchers have been made for urban air mobility operations, alongside other operations in the airspace.
The urban air mobility is expected to be used for several operations, such as humanitarian missions, weather monitoring, ground traffic assessment, emergency medical evacuations, news gathering, package delivery, rescue operations, and passenger transport. The growing human intervention for intercity and intracity transportation using eVTOL and growing smart city investments for urban air mobility are expected to create significant opportunity in the global urban air mobility market.
Urban air mobility (UAM) is an attractive business prop¬osition, which is not too far off in the future.As the road travel in large megacities becomes increasingly congested, the population commuting daily are looking for a better way to safely travel to work and other destinations.
Urban air mobility can serve as the advanced way to commute on a daily basis. Urban air mobility, being a part of the future urban landscape, is a term used to describe the systems that enables on-demand, safe, highly automated, and passenger and cargo carrying air transportation services in a metropolitan environment for manned aircraft and unmanned aircraft systems.
In the coming future, the advancements made by the Europe and North America region in the flying vehicles are expected to create lucrative opportunity for the global urban air mobility market. The key players that are actively participating in the global urban air mobility market include Airbus, Airspace Experience Technologies, Aurora Flight Sciences, Bell Helicopter, Boeing, Delorean Aerospace, Embraer, Karem Aircraft, Kitty Hawk, Lilium, Neva Aerospace, Opener, Pipistrel, Siemens, and Volocopter, among others.
The market is expected to report $5.32 billion revenue in 2023 at a significant CAGR during the forecast period 2023-2035. The global urban air mobility market has been segmented into aircraft type: rotor wing, fixed wing, and hybrid concepts. The rotor wing market is expected to acquire the largest share in 2023; however, hybrid concepts market is expected to grow at the highest CAGR during the forecast period, 2023-2035.
North America is expected to acquire the largest share of the global urban air mobility market followed by Europe, Asia-Pacific, and Rest of-the-World (RoW). The U.S. is one of the prominent countries of North America for the development of the urban air mobility market. The U.S. is expected to dominate the overall market of the urban air mobility in 2023. However, Singapore is expected to grow at the highest CAGR during the forecast period, 2023-2035. In Europe, Germany is one of the prominent countries which is currently focusing on the development of flying vehicles. Some of the other prominent countries include Germany, the Netherlands, the U.K., and France.
The prominent countries in the Asia-Pacific region driving the urban air mobility market are China, Japan, South Korea, U.A.E., and Singapore. China currently has the largest share and Singapore is expected to grow at the highest rate in the Asia-Pacific region during the forecast period.
Countries Covered
• North America
• The U.S.
• Europe
• The U.K
• Germany
• France
• Netherlands
• Asia-Pacific
• China
• Singapore
• Japan
• South Korea
• Rest-of-the-World
• Brazil
• The U.A.E.
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