openPR Logo
Press release

Urban Air Mobility Market is Poised to Drive Accelerated Expansion in Coming Years: P&S Intelligence

12-03-2021 12:36 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Urban Air Mobility (UAM) Market Demand, Investment Feasibility and Forecast to 2030

Urban Air Mobility (UAM) Market Demand, Investment Feasibility and Forecast to 2030

Urban areas are constantly facing the challenge of road congestion due to the increasing number of vehicles on roads. Traffic jams often lead to the wastage of time and impact economic growth. For example, people in the U.S., on an average, spend around 90 hours in traffic jams each year, which increases their transportation spending substantially. Moreover, the incidence of road accidents has rapidly escalated in the developing countries of China, Indonesia, and India. All these reasons have led to the development of aerial vehicles that will become a common sight in the near future.

Request to Get the Sample Pages: https://www.psmarketresearch.com/market-analysis/urban-air-mobility-market/report-sample

In recent years, several startups have begun working in the domain of urban air mobility (UAM) to help deal with urban traffic. These startups are receiving hefty investments from major companies such as Toyota Motor Corp. and Hanwha Systems Co. Ltd. For example, in January 2018, Toyota Motor Corp. invested $394 million in Joby Aviation LLC, which is developing electric vertical take-off and landing (eVTOL) aircraft, to foray into the UAM sector. These investments will accelerate the urban air mobility market at a massive CAGR of 33.9% during 2023–2030. The market is expected to stand at $895.0 million in 2023 and grow to $895.0 million in 2023.

According to P&S Intelligence, in 2023, passenger aircraft will be adopted in larger numbers than cargo aircraft, as the demand for passenger flights would surpass that for cargo delivery services. People would travel at lower altitudes on eVTOL aircraft, which will become a common type of aerial vehicle due to the increasing traffic on urban roads. However, the fare for low-altitude passenger flights is expected to be higher than the fare for cargo and last-mile delivery service.

Companies venturing into the urban air mobility market are expecting to make a fortune in the future. Key players, such as The Boeing Company, Volocopter GmbH, Airspace Experience Technologies Inc., Textron Inc., Kitty Hawk Corp., Airbus SE, Lilium GmbH, Uber Technologies Inc., Zipline Inc., and EHang Holdings Ltd., are entering into joint ventures and partnerships to gain maximum success from this futuristic market. For instance, Kitty Hawk Corp., in December 2019, launched the Wisk joint-venture with The Boeing Company, to create Cora, a self-flying eVTOL air taxi, which will have a two-person capacity.

Similarly, in January 2020, Uber Technologies Inc. started a partnership with Hyundai Motor Co. to provide ridesharing services through air taxis. Because of this partnership, Hyundai became the first automobile manufacturer to join the Elevate initiative of Uber. According to the agreement, the automaker will manufacture and deploy aerial vehicles, whereas Uber will offer support service, customer interface, and connection to ground transportation via an aerial network. In the same month, Pierce Aerospace LLC and DroneDek LLC announced a partnership aimed at delivering authenticated packages to government, residential, commercial, and institutional customers via drones.

Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=urban-air-mobility-market

Hence, to avoid heavy traffic on urban roads, air mobility vehicles will be adopted in large numbers in the coming years.

P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow us on LinkedIn: https://www.linkedin.com/company/pnsintelligence/

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Urban Air Mobility Market is Poised to Drive Accelerated Expansion in Coming Years: P&S Intelligence here

News-ID: 2484337 • Views: 164

More Releases from P&S Intelligence

AR and VR Market Drivers, Restraints, Opportunities, and Trends in Coming Years
The augmented reality (AR) and virtual reality (VR) market is expected to witness a strong CAGR, of 42.9%, during the forecast period (2020–2030), owing to the soaring focus of vendors on price reduction, growing penetration of tablet computers and smartphones, and surging adoption of AR and VR technologies in the healthcare, gaming, tourism, education, and entertainment industries. According to P&S Intelligence, the market was valued at $37.0 billion in 2019
RF Transceiver Market Drivers, Restraints, Opportunities, and Trends in Coming Y …
The major factors responsible for the growth of the radiofrequency (RF) transceiver market are the increasing demand for smartphones and rising penetration of the internet of things (IoT) technology. Due to this, the revenue generated by the market players, which stood at $3,892.1 million in 2019, is projected to grow at a 0.8% CAGR during 2020–2030 (forecast period), to reach $3,384.5 million by 2030. The RF transceiver is an important
HVAC Market Drivers, Restraints, Opportunities, and Trends in Coming Years
Factors such as the growing construction sector, increasing government initiatives to support the installation of heating, ventilation, and air conditioning (HVAC) systems, surging demand for energy-efficient systems, and rising global surface temperature are expected to drive the growth of the HVAC market at a 4.8% CAGR during the forecast period (2020–2030). With this growth rate, the market size will increase from $240.8 billion in 2019 to $358.1 billion by 2030. Get
U.A.E HVAC Market Recent Trends, Developments, Challenges and Opportunities
A surge in construction activities in the transportation sector of the U.A.E. has led to the widescale adoption of heating, air conditioning, and ventilating (HVAC) systems in the country. The gulf country is spending hefty amounts on the construction of airports and expansion of railway infrastructure. These new facilities adopt HVAC equipment to offer better amenities. For example, the U.A.E. government launched "Route 2020" in 2018, to extend the Red

All 5 Releases


More Releases for Air

Climacool Air Conditioning
Climacool Air Conditioning sells, installs, repairs and services air conditioning units in Sydney. The team of air conditioning professionals work in both domestic and commercial estates to ensure that you receive the quality and outstanding service that you deserve. Climacool Air Conditioning sells, installs, repairs and services air conditioning units in Sydney. The team of air conditioning professionals work in both domestic and commercial estates to ensure that you receive the
Air Suspension Systems Market
Air suspension systems are extensively used in heavy duty vehicles where they utilize pressure from compressed air for the vehicle’s braking system. As a result, the global air suspension systems market is expected to witness significant growth in 2018, reaching a market value of US$ 4,613.3 Mn at a Y-o-Y growth rate of 6.0% as compared to 2017. Furthermore, the global demand for air suspension systems will also be influenced
Air Defense System Market,
The air defense system are coming up with for mission, coordination of units whereas playacting combat missions, inserting intelligence statistics on the map and investigation of errors by retrieving the history module. The combat management system delivers associate degree accessible, services-based framework. Moreover, this technique conjointly directs correct and fast-reacting fusion, analysis and transmission of nice amounts of detector knowledge to ensure the economical readying of ships and different resources
Automotive Air Filter Market
An automotive air filter is a device that is made up of fibrous materials that removes solid particulates like pollen, dust, bacteria, and mould from the intake air. A chemical type of air filter consist of a catalyst or absorbent for removing molecular contaminants like ozone or volatile organic compounds. Air filters are being used in applications where air quality is of vital importance, notably in building ventilation systems and
Systematically pure air
Amazone has integrated energy-saving torch welding extraction into the production Metal-processing companies can directly include the planning of ventilation systems when building a new hall. But what kind of extraction and filter technology can be successfully integrated into the existing production, which individually protects employees against emissions and is extremely energy-saving? This is the question that Hilmar Heitmann, project engineer at Amazone at the main production facility in Hasbergen-Gaste (close
Maximizing Air Conditioning Efficiency
Maximizing air conditioning efficiency is key to minimize its financial and environmental costs. Historically air conditioning has been unpopular in Europe simply because of the moderate climate and running costs, having said that, it is now becoming much more common across Europe and the UK. An air conditioner that does not work at its maximum efficiency levels can seriously effect the electricity consumption, it may be working fine with absolutely