Global Urban Air Mobility Market Overview

The Global Urban Air Mobility Market size is expected to grow from USD 3.76 billion in 2023 to USD 11.66 billion by 2032, at a CAGR of 13.4 % during the forecast period (2024-2032).

The market for on-demand and automated passenger or cargo-carrying air transportation services around cities and metropolitan regions is known as the urban air mobility (UAM) market. Globally, rising traffic congestion difficulties, particularly in bigger cities, are driving the need for speedier intracity transit choices. The notion of urban air mobility is gaining traction in this area. The urban air mobility business is seeing a lot of R&D investment, with several start-ups and aerospace companies considering it as a high-growth market. As a result, such factors are projected to fuel the market's expansion throughout the forecast period.

There may be considerable time savings because the UAM is a safe and efficient air transportation system where passenger-carrying air taxis operate over populous regions. Furthermore, the UAM's air taxis are largely electric or fuel-cell powered. As a result, they contribute to the reduction of pollutants in the atmosphere. Many businesses are making major investments in this area, which is projected to accelerate technical improvements in the market in the long term, once UAM systems are put into commercial use, the market is expected to grow exponentially.

Market Dynamics and Factors For Urban Air Mobility:

Drivers

Rising investment in Urban Air Mobility (UAM) boosting the market.
Ground transportation networks are being pushed to their limits by rising urbanization and traffic congestion. Adding a third dimension to urban air mobility has the potential to create a transportation system that is quicker, cleaner, safer, and more connected. Autonomous aerial vehicles and flying automobiles are no longer science fiction, with research and experiments being carried out all over the world. With over USD 1 billion invested in the first few months of 2020, the UAM industry, which is still in its early stages, has seen substantial development. Toyota's USD 590.0 million investment in Joby Aviation and Guangzhou EHang Intelligent Technology Co. Ltd's USD 650.0 million IPO valuation is the two most prominent investments. The Federal Aviation Administration (FAA) also collaborates with over 15 eVTOL aircraft manufacturers. Uber Air, Guangzhou EHang Intelligent Technology Co. Ltd, Volocopter GmbH, Joby Aviation, and Lilium GmbH all expect to start commercial passenger operations within the next three to five years. The use of autonomous drones in urban air mobility is expected to deliver benefits such as less pollution, faster travel times, and less strain on existing transportation infrastructure. Increased traffic congestion in densely populated areas is one of the key factors driving this market's rise. Increased road traffic in metropolitan areas causes long traffic jams, resulting in wasted travel time.

Restraints

For increased reach and flexibility, all nations adopting urban air transportation must overcome political, economic, social, technological, and legal constraints. The market operation should be economically scaled to fit activities with strong demand and minimal fixed costs. Governments, research institutes, industries, and universities must all make major contributions. In recent years, several companies have created and tested enabling elements of the UAM concept, such as vertical take-off landing capability vehicle prototypes, operational ideas, and potential business models. While the convergence of several factors may make UAM possible, legal and regulatory limitations may limit its adoption.

Opportunities

The primary goal of urban air mobility is to make intracity transit more convenient while also alleviating the load on current urban mobility alternatives. The majority of autonomous aircraft manufacturers are currently in the research and development phase, leaving only a few players to deploy their autonomous aircraft for intracity transportation due to the limited availability of high-powered, lightweight lithium-ion batteries and the infrastructure required to set up charging points for these batteries. The Lilium Jet is an electric vertical take-off and landing jet with a cruising speed of 300 km/h and a range of 300 km designed by Lilium (Germany). The corporation intends to use this plane for intracity travel at first, and then for interstate travel shortly. Pipistrel, Bell, Hyundai Motors, Volocopter, and EHang are among the companies planning to build autonomous aircraft for intracity transportation. After gaining societal approval, passenger drones are expected to be deployed for intercity air transportation by 2030.

Challenges

Several firms have created and tested enabling parts of the UAM idea in recent years, including prototypes of vertical take-off landing capability vehicles, operating concepts, and prospective business models. While the convergence of multiple elements may enable UAM, legal and regulatory constraints may prevent it from becoming popular. Technology advances at a breakneck speed, outpacing regulation. Urban air mobility, like previous disruptive technologies, has yet to reach a stage where innovation is not hindered and the public is sufficiently safeguarded by federal, state, and municipal governments. In terms of safety and privacy, as well as certain legal impediments, urban air mobility operations offer fresh and real issues that may deter the usage of such technology. These legal impediments, however, are followed by collaborative initiatives like the UAS Integration Pilot Program, FAA Rulemaking Committees, the UAM Grand Challenge, and others that enable the alignment of technology and policy, allowing for more complicated operations.

Market Segmentation

By Type, the Piloted segment is dominating the Air Mobility (UAM) Market. The piloted segment of this market is having the largest urban air mobility market share in the global market. This growth is attributed to the increasing deployment of advanced eVTOL systems for commercial and military aircraft in the market currently. The demand for personalized chartered plane service in urban cities has grown in the past five years. Cities like New York, London, Hong Kong are the major financial cities in the world. A top key executive from companies prefers to roam in the city with urban mobility vehicles Therefore, demand for private pilot personnel is high which reflects on the growth of the segment in the Urban Air Mobility (UAM) Market.

By Application, Transport is expected to be dominating the Urban Air Mobility (UAM) Market. Because Air Taxis may fly in numerous pre-defined layers of air, one above the other, and so minimize traffic congestion in one specific way, the technology employed in Urban Air Mobility (UAM) is highly promising in decreasing traffic. Another benefit of UAM is that it requires less infrastructure. Unlike vehicles and trains, the Air Taxi does not require any road or railroad infrastructure to function. Therefore, an affordable UAM is expected to be a revolutionary shift towards urban commutation. The most basic need is landing and take-off stations, for which a rooftop of a building would be a perfect location. Currently, many corporate headquarters are being constructed with their helipad which is convenient for a company to fly off-key executives to save time. Therefore, Urban transportation usage is likely to grow during the forecasted period.  

Players Covered in Urban Air Mobility market are :

• Wisk (US)
• Lilium (Germany)
• Ehang (China.)
• Volocopter (Germany)
• Airbus A Cubed (US) and other major players.

Regional Analysis of Urban Air Mobility (UAM) Market

North America is dominating the Urban Air Mobility (UAM) Market. The Boeing Company's presence has also aided in creating a good climate for the sector, as the business is heavily investing in producing prototypes for evaluation. The U.S. is leading the way in North America in terms of adopting this modern mode of transportation. Many American start-ups are collaborating to develop and apply these technologies on a local level. A roadmap for getting the UAM into commercial use will be laid out over the next 5-6 years. The rising air traffic among residents of major North American cities fuels the adoption of air taxis and airport shuttle services. Furthermore, last-mile and freight services are likely to be widely provided with eVTOL aircraft in the U.S., positively impacting the market growth in North America.

Europe is going to witness the fastest growth during the forecast period. Though there have been developments worldwide, most of these innovations have been concentrated in Europe. The U.K., Germany, and France are investing heavily in urban air mobility technology. The presence of Airbus S.A.S has also aided in creating a favorable atmosphere for this sector, as these businesses are investing heavily in producing prototypes for evaluation. For example, Airbus has been researching ways to use the most recent technology breakthroughs in electric propulsion systems for powering UAMs since 2014. As a result, the Airbus Urban Mobility business was established in 2018 to speed the integration of such breakthrough technology into the UAM solutions that the company aspires to provide. Airbus began researching new capabilities as part of the Vertex project in April 2021, intending to achieve completely autonomous flight in its Flightlab demonstrator by 2023.

Key Developments of Urban Air Mobility (UAM) Market

• In August 2023, Wisk Aero, Archer, and Boeing reached an agreement on Dispute Resolution and Independent Aviation Cooperation. MOUNTAIN VIEW, CA and SANTA CLARA, Wisk Aero and Archer Aviation, leaders in the Advanced Air Mobility (AAM) market, and The Boeing Company announced that they have reached an agreement to resolve litigation between the parties in federal and state courts under undisclosed terms.

• May 2021, NASA's advanced air mobility project, the Aeronautics Research Mission Directorate National Campaign 2 for Advanced Air Mobility (AAM) for Community Planning and Integration, was awarded to ANRA Technologies. The firm would provide UAM services to build passenger drones and other advanced air transportation technologies as part of this initiative.
• March 2021, Eve Urban Air Mobility Solutions, Inc. (Eve) has announced a collaboration with EmbraerX's Beacon maintenance coordination technology, which will be part of Eve's service and support capabilities. Eve will rely on Beacon's multi-sided platform, which connects and synchronizes industry resources, the aftermarket supply chain, and aviation professionals to maintain planes flying more agile and efficient.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Urban Air Mobility Market by Type
 5.1 Urban Air Mobility Market Overview Snapshot and Growth Engine
 5.2 Urban Air Mobility Market Overview
 5.3 Autonomous
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Autonomous: Grographic Segmentation
 5.4 Piloted
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Piloted: Grographic Segmentation

Chapter 6: Urban Air Mobility Market by Application
 6.1 Urban Air Mobility Market Overview Snapshot and Growth Engine
 6.2 Urban Air Mobility Market Overview
 6.3 Passenger
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Passenger: Grographic Segmentation
 6.4 Transport
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Transport: Grographic Segmentation
 6.5 Freight
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Freight: Grographic Segmentation

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Positioning
  7.1.2 Urban Air Mobility Sales and Market Share By Players
  7.1.3 Industry BCG Matrix
  7.1.4 Ansoff Matrix
  7.1.5 Urban Air Mobility Industry Concentration Ratio (CR5 and HHI)
  7.1.6 Top 5 Urban Air Mobility Players Market Share
  7.1.7 Mergers and Acquisitions
  7.1.8 Business Strategies By Top Players
 7.2 WISK
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Operating Business Segments
  7.2.5 Product Portfolio
  7.2.6 Business Performance
  7.2.7 Key Strategic Moves and Recent Developments
  7.2.8 SWOT Analysis
 7.3 LILIUM
 7.4 EHANG
 7.5 VOLOCOPTER
 7.6 AIRBUS A CUBED
 7.7 OTHER MAJOR PLAYERS

Chapter 8: Global Urban Air Mobility Market Analysis, Insights and Forecast, 2017-2032
 8.1 Market Overview
 8.2 Historic and Forecasted Market Size By Type
  8.2.1 Autonomous
  8.2.2 Piloted
 8.3 Historic and Forecasted Market Size By Application
  8.3.1 Passenger
  8.3.2 Transport
  8.3.3 Freight

Chapter 9: North America Urban Air Mobility Market Analysis, Insights and Forecast, 2017-2032
 9.1 Key Market Trends, Growth Factors and Opportunities
 9.2 Impact of Covid-19
 9.3 Key Players
 9.4 Key Market Trends, Growth Factors and Opportunities
 9.4 Historic and Forecasted Market Size By Type
  9.4.1 Autonomous
  9.4.2 Piloted
 9.5 Historic and Forecasted Market Size By Application
  9.5.1 Passenger
  9.5.2 Transport
  9.5.3 Freight
 9.6 Historic and Forecast Market Size by Country
  9.6.1 U.S.
  9.6.2 Canada
  9.6.3 Mexico

Chapter 10: Europe Urban Air Mobility Market Analysis, Insights and Forecast, 2017-2032
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Type
  10.4.1 Autonomous
  10.4.2 Piloted
 10.5 Historic and Forecasted Market Size By Application
  10.5.1 Passenger
  10.5.2 Transport
  10.5.3 Freight
 10.6 Historic and Forecast Market Size by Country
  10.6.1 Germany
  10.6.2 U.K.
  10.6.3 France
  10.6.4 Italy
  10.6.5 Russia
  10.6.6 Spain
  10.6.7 Rest of Europe

Chapter 11: Asia-Pacific Urban Air Mobility Market Analysis, Insights and Forecast, 2017-2032
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 Autonomous
  11.4.2 Piloted
 11.5 Historic and Forecasted Market Size By Application
  11.5.1 Passenger
  11.5.2 Transport
  11.5.3 Freight
 11.6 Historic and Forecast Market Size by Country
  11.6.1 China
  11.6.2 India
  11.6.3 Japan
  11.6.4 Singapore
  11.6.5 Australia
  11.6.6 New Zealand
  11.6.7 Rest of APAC

Chapter 12: Middle East & Africa Urban Air Mobility Market Analysis, Insights and Forecast, 2017-2032
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 Autonomous
  12.4.2 Piloted
 12.5 Historic and Forecasted Market Size By Application
  12.5.1 Passenger
  12.5.2 Transport
  12.5.3 Freight
 12.6 Historic and Forecast Market Size by Country
  12.6.1 Turkey
  12.6.2 Saudi Arabia
  12.6.3 Iran
  12.6.4 UAE
  12.6.5 Africa
  12.6.6 Rest of MEA

Chapter 13: South America Urban Air Mobility Market Analysis, Insights and Forecast, 2017-2032
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Type
  13.4.1 Autonomous
  13.4.2 Piloted
 13.5 Historic and Forecasted Market Size By Application
  13.5.1 Passenger
  13.5.2 Transport
  13.5.3 Freight
 13.6 Historic and Forecast Market Size by Country
  13.6.1 Brazil
  13.6.2 Argentina
  13.6.3 Rest of SA

Chapter 14 Investment Analysis

Chapter 15 Analyst Viewpoint and Conclusion

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. URBAN AIR MOBILITY MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. URBAN AIR MOBILITY MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. URBAN AIR MOBILITY MARKET COMPETITIVE RIVALRY
TABLE 005. URBAN AIR MOBILITY MARKET THREAT OF NEW ENTRANTS
TABLE 006. URBAN AIR MOBILITY MARKET THREAT OF SUBSTITUTES
TABLE 007. URBAN AIR MOBILITY MARKET BY TYPE
TABLE 008. AUTONOMOUS MARKET OVERVIEW (2016-2028)
TABLE 009. PILOTED MARKET OVERVIEW (2016-2028)
TABLE 010. URBAN AIR MOBILITY MARKET BY APPLICATION
TABLE 011. PASSENGER MARKET OVERVIEW (2016-2028)
TABLE 012. TRANSPORT MARKET OVERVIEW (2016-2028)
TABLE 013. FREIGHT MARKET OVERVIEW (2016-2028)
TABLE 014. NORTH AMERICA URBAN AIR MOBILITY MARKET, BY TYPE (2016-2028)
TABLE 015. NORTH AMERICA URBAN AIR MOBILITY MARKET, BY APPLICATION (2016-2028)
TABLE 016. N URBAN AIR MOBILITY MARKET, BY COUNTRY (2016-2028)
TABLE 017. EUROPE URBAN AIR MOBILITY MARKET, BY TYPE (2016-2028)
TABLE 018. EUROPE URBAN AIR MOBILITY MARKET, BY APPLICATION (2016-2028)
TABLE 019. URBAN AIR MOBILITY MARKET, BY COUNTRY (2016-2028)
TABLE 020. ASIA PACIFIC URBAN AIR MOBILITY MARKET, BY TYPE (2016-2028)
TABLE 021. ASIA PACIFIC URBAN AIR MOBILITY MARKET, BY APPLICATION (2016-2028)
TABLE 022. URBAN AIR MOBILITY MARKET, BY COUNTRY (2016-2028)
TABLE 023. MIDDLE EAST & AFRICA URBAN AIR MOBILITY MARKET, BY TYPE (2016-2028)
TABLE 024. MIDDLE EAST & AFRICA URBAN AIR MOBILITY MARKET, BY APPLICATION (2016-2028)
TABLE 025. URBAN AIR MOBILITY MARKET, BY COUNTRY (2016-2028)
TABLE 026. SOUTH AMERICA URBAN AIR MOBILITY MARKET, BY TYPE (2016-2028)
TABLE 027. SOUTH AMERICA URBAN AIR MOBILITY MARKET, BY APPLICATION (2016-2028)
TABLE 028. URBAN AIR MOBILITY MARKET, BY COUNTRY (2016-2028)
TABLE 029. WISK: SNAPSHOT
TABLE 030. WISK: BUSINESS PERFORMANCE
TABLE 031. WISK: PRODUCT PORTFOLIO
TABLE 032. WISK: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 032. LILIUM: SNAPSHOT
TABLE 033. LILIUM: BUSINESS PERFORMANCE
TABLE 034. LILIUM: PRODUCT PORTFOLIO
TABLE 035. LILIUM: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 035. EHANG: SNAPSHOT
TABLE 036. EHANG: BUSINESS PERFORMANCE
TABLE 037. EHANG: PRODUCT PORTFOLIO
TABLE 038. EHANG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 038. VOLOCOPTER: SNAPSHOT
TABLE 039. VOLOCOPTER: BUSINESS PERFORMANCE
TABLE 040. VOLOCOPTER: PRODUCT PORTFOLIO
TABLE 041. VOLOCOPTER: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 041. AIRBUS A CUBED: SNAPSHOT
TABLE 042. AIRBUS A CUBED: BUSINESS PERFORMANCE
TABLE 043. AIRBUS A CUBED: PRODUCT PORTFOLIO
TABLE 044. AIRBUS A CUBED: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 044. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 045. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 046. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 047. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. URBAN AIR MOBILITY MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. URBAN AIR MOBILITY MARKET OVERVIEW BY TYPE
FIGURE 012. AUTONOMOUS MARKET OVERVIEW (2016-2028)
FIGURE 013. PILOTED MARKET OVERVIEW (2016-2028)
FIGURE 014. URBAN AIR MOBILITY MARKET OVERVIEW BY APPLICATION
FIGURE 015. PASSENGER MARKET OVERVIEW (2016-2028)
FIGURE 016. TRANSPORT MARKET OVERVIEW (2016-2028)
FIGURE 017. FREIGHT MARKET OVERVIEW (2016-2028)
FIGURE 018. NORTH AMERICA URBAN AIR MOBILITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 019. EUROPE URBAN AIR MOBILITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 020. ASIA PACIFIC URBAN AIR MOBILITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 021. MIDDLE EAST & AFRICA URBAN AIR MOBILITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 022. SOUTH AMERICA URBAN AIR MOBILITY MARKET OVERVIEW BY COUNTRY (2016-2028)