Urban Air Mobility Market and its Key Opportunities and Challenges

The report "Urban Air Mobility Market by Component (Infrastructure (Charging Stations, Vertiports, Traffic Management), Platform (Air Taxi, Personal Air Vehicle, Cargo Air Vehicle, Air Ambulance)), Operation, Range, and Region - Global Forecast to 2030" indicates that the global urban air mobility market size is forecasted to witness growth at a CAGR of 11.3%, which is depicted to hike from USD 5.3 billion in 2018 to USD 15.2 billion by 2030. The driving forces to bring the growth of the urban air mobility industry are eVTOLs for intercity and intracity transportation, as well as autonomous eVTOLs for commercial usage considered primarily.

By component, the platform segment is expected to take over the lead in the market
The urban air mobility market has been segmented into the platform and infrastructure segment. In the forecasted period, the predictability to dominate the market is more inclined towards the platform segment than that of the infrastructure segment. It is expected that from 2018 to 2030, the platform segment will see the higher CAGR growth. eVTOLs for intracity and intercity transportation will drive this growth. Also, very much possibility of using drones for cargo transportation and passenger carrier could be observed.

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By operation, the autonomous segment will take the lead over the piloted segment
By operation, the urban air mobility market has got two segments one is piloted and another autonomous. It is anticipated that the higher CAGR growth will be seen in autonomous segment in the forecast period. For commercial usage, there is an increasing demand for autonomous eVTOLs and thus is considered as the major driving force for the growth of the autonomous segment.

Air taxi industry segment is supposed to lead the growth in the urban air mobility market
The requirement for the alternative transportation mode is sought out in urban mobility. Air taxi sub-segment is foreseen as a successful segment in the forecasted period.

● A flying taxi priced USD 90 million is developed by Lilium and tested in Germany. The taxi is a five-seater jet-powered flight and offers vertical take-off.

● Another one is SureFly, a personal VTOL or helicopter. It is an electric hybrid helicopter and has two fixed-contra-rotating propellers, four propeller arms, backup battery, and ballistic parachute.

● Bell helicopter is having full-scale electric vertical take-off and landing, i.e., VTOL. This air taxi has a hybrid-electric propulsion system, six tilting ducted fans that ensure safe air travel.

During the forecasted period, Europe is expected to take the lead in the urban air mobility market
By region, the market is expected to see the highest growth in Europe in the forecast period. The increasing investment is enabling eVTOL manufacturers to focus on developing UAM for commercial usage. The attention is imparted to develop new products in European countries. The UAM ecosystems for obtaining cost-effective air transportation are given specific focus in European countries. The key players in this are France, Bulgaria, Germany, and Estonia, among others. In addition to this, there is an increasing number of manufacturing bases to develop commercial eVTOLs have also been another reason for the growth of the urban air mobility market in Europe.

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This release was published on openPR.