FREMONT, California, May 21, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Urban Air Mobility Market - Analysis and Forecast, 2023 - 2035", the global urban air mobility market is expected to be approximately $5.32 billion in 2023. The market is expected to witness a compounded annual growth rate of 26.19%, during the forecast from 2023 to 2035 and reach $86.83 billion by 2035. The market is projected to grow owing to the increasing use of UAVs in the commercial and civil applications and the increasing demand for efficient transportation and mobility.
The urban air mobility, being a part of the future urban landscape, is a term used to describe the systems that enable on-demand, safe, highly automated, and passenger- and cargo-carrying air transportation services in a metropolitan environment for manned and unmanned aircraft systems. The urban air mobility market framework includes infrastructure, technology, and business. Infrastructure and technology are the most significant factors required for urban air mobility to take-off.
The technological framework includes system architecture, battery operations, charging technology, software development, operations through ground and air operation, and certifications, among others. The urban air mobility market is expected to create an entirely new industry. The aircrafts used in the urban air mobility market need to be manufactured at a large scale so as to create new opportunities and provide several benefits to the end-users.
The sky ports are a part of the urban air mobility market, however, they require a lot of power, generating business for utility companies, while the need for a new infrastructure is expected to create opportunities for the real estate industry. The manufacturers are continuously taking initiative to develop various innovative infrastructural concepts, such as better connectivity, better tracking systems, and almost every vertiport in the future is expected to have charging stations.
The global urban air mobility market is categorized on the basis of aircraft type that includes fixed wing, rotor wing, and hybrid concepts. The hybrid concepts are expected to grow at the highest CAGR of 29.89% during the forecast period, 2023-2035. The report also includes market segmentation by infrastructure (vertiports, charging stations, and traffic management systems), use case (air taxi, airport shuttle, personal air vehicle, last mile delivery, air metro, and air ambulance), operation (piloted and autonomous), and travel range (intercity and intracity).
According to Swati Chaturvedi, Sr. Research Analyst at BIS Research, "the U.S. is one of the most prominent countries for the growth of the global urban air mobility market. In 2023, the U.S. is expected to dominate the global urban air mobility market, acquiring the maximum market share. However, the geographical analysis of this market unveils an immense potential for its growth in the Asia-Pacific region as well. China is expected to acquire the largest market share, and Singapore is expected to witness the highest growth rate in this region during the period 2023-2035. Similarly, the Europe market is also likely to witness numerous growth opportunities during the forecast period."
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented on the basis of types and end users. The report also includes a comprehensive section on the region-wise analysis including country analysis for more than 10 different countries.
This report is a meticulous compilation of research on more than 50 players in the urban air mobility ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report has profiled around 15 companies 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.
Key Questions Answered:
What are the major driving forces that tend to increase the demand for the global urban air mobility market during the forecast period, 2023-2035?
What are the major challenges inhibiting the growth of the global urban air mobility market?
Who are the key players in the global urban air mobility market, and what is their competitive benchmarking?
What is the expected revenue to be generated by the global urban air mobility market on the basis of segments (aircraft type, infrastructure, use case, operation, and travel range) in 2023, and what are the estimates by 2035?
How is each segment of the global urban air mobility market expected to grow during the forecast period, and how much revenue is expected to be generated by each segment by the end of 2035?
What are the trends in the global urban air mobility market across different regions, what is the expected revenue to be generated in 2023 and what are the estimates by 2035?
How is the industry expected to evolve during the forecast period 2023-2035?
Which region is expected to contribute to the highest sales of the global urban air mobility market during the forecast period?
What are the new strategies adopted by the existing market players to make a mark in the industry?
What are the major opportunities that the urban air mobility manufacturers foresee?
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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