Urban Air Mobility Market is anticipated to grow at a Prime CAGR of 17.5% from 2026-2034

According to the new research report published by The Insight Partners, titled "Urban Air Mobility Market - Global Analysis and Forecast to 2027", the global industrial battery market is expected to reach US$ 1,019.5 million by 2034, registering a CAGR of 5% during the forecast period 2019-2034.

Several companies are planning to use UAMs to deliver their products to the customers. One of the major pilot projects was carried out by Amazon in the US. The company announced its first project in 2013 since then Amazon has overcome several hurdles and is closer to start drone delivery in the near future. In 2017, the company attempted its first successful demo delivery through drones in the US. To support this, the federal government of the US has launched a 3-year pilot program for creating "innovation-zones" to test drones across the US. The pilot program is aimed at spurring the development of the UAM last-mile delivery industry.

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The purpose of several e-commerce companies, tech companies, restaurant chains, and retailers involving themselves in autonomous delivery deployment is not just to provide enhanced convenience to the customers. If the UAM last-mile delivery service comes out as a feasible option, both in terms of safety and reliability, then it can help these companies to attain significant savings in comparison to traditional package delivery. The current scenario possesses hurdles related to safety; however, with advancements in technology and significant investments by companies in drone technology, the governments will relax its regulations for drone delivery. Thus, delivery drones are anticipated to offer a significant opportunity to the market of UAVs in the near future, which will support the growth of the urban air mobility market.

The Prominent/Emerging Players in the Urban Air Mobility Market Research include:
- Airbus SAS
- Aurora Flight Sciences
- Airspace Experience Technologies, Inc.
- Bell Textron Inc
- EHang Intelligent Technology Co. Ltd
- EmbraerX
- Jaunt Air Mobility LLC
- Kitty Hawk
- Moog Inc.
- Volocopter GmbH

In the present scenario, regulation is in place to permit for VLOS operations and piloted helicopter operation for UAS. However, there is no precise regulation in place for governing autonomous passenger-carrying operations or the systems that provide them. During the development of the aerial vehicle, a fall-back, or safety pilot is always on board for taking control for any reason, at any time. Utilizing the fall-back pilot facilitates the aircraft to become airborne more quickly, and requires significant investment in systems. However, starting with full autonomy reduces the requirement of human-machine interfaces, but gaining certification and public acceptance can be a challenge, due to this, numerous market players are focusing on designing and developing piloted urban air mobility to gain a strong position in the urban air mobility market.

Global Urban Air Mobility Market Segmentations:

Urban Air Mobility Market - by Type
- Lead-acid Batteries
- Lithium-based Batteries
- Nickel-based Batteries

Urban Air Mobility Market - by Application
- Telecom & Data Communication
- Industrial Equipment
- Uninterruptible Power Supply (Ups)/Backup
- Mining
- Marine

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Key Elements that the report acknowledges:

- Market size and growth rate during forecast period.
- Key factors driving the Urban Air Mobility Market.
- Key market trends cracking up the growth of the Urban Air Mobility Market.
- Challenges to market growth.
- Key vendors of Urban Air Mobility Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global Urban Air Mobility Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.

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About The Insight Partners

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Chemical, Food, Automotive and Defence.

This release was published on openPR.