Urban Air Mobility Market Dynamics Analysis, Production, Supply and Demand, Covered in the Latest Research 2023-2030

The global urban air mobility market is expected to grow from USD 2.1 billion in 2021 to USD 29.0 billion by 2030, at a CAGR of 33.9% during the forecast period 2022-2030. The market has been growing due to the rapid urbanization and increasing traffic congestion in larger cities. The increasing demand for an alternative mode of transportation is also expected to fuel the market's growth during the forecast period. Many investments have been made to research and develop urban air mobility vehicles, providing market growth opportunities.

The air taxis segment dominated the market with a market revenue of 0.6 billion in 2021

The vehicle type segment is divided into air taxis, air ambulances, air metro, last-mile delivery, and others. In 2021, the air taxis segment dominated the market with market revenue of 0.6 billion. Air taxis are highly efficient and are manufactured with a sophisticated design, which drives the segment's growth.

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The intercity segment is expected to grow at the fastest CAGR of 34.8% over the forecast period.

The range segment is divided into intercity and intracity. Over the forecast period, the intercity segment is expected to grow at the fastest CAGR of 34.8%. Intercity urban air mobility vehicles are suitable for short-distance travel and capable of carrying a load, propelling the segment's growth. This also helps reduce the time a journey takes from one city to another.

The autonomous segment accounted for the largest share of the market, with 39%.

The operation segment is divided into piloted, hybrid, and autonomous. In 2021, the autonomous segment dominated the market, accounting for around 39% of global revenue. The increasing use of artificial intelligence and IoT technology fuels the growth of the autonomous segment.'

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Regional Segmentation Analysis:

The urban air mobility market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, Middle East, and Africa. North America is expected to be the largest market during the forecast period. The urban air mobility market in the Asia Pacific has been expanding rapidly due to the increasing traffic congestion in the region and extra expenses in tackling the traffic jam issue. Furthermore, the presence of prominent manufacturers in the region, such as Airbus and the Boeing Company, also propels the market's growth. The increasing capacity of people to spend on urban air mobility also adds impetus to the market's growth in the region.

Competitive Analysis:

The major players in the urban air mobility market include Volocopter GmbH, Bell Textron Inc., Technologies, Inc., Lockheed Martin Corporation, Airbus SE., AirspaceX, Lilium Aviation GmbH, Guangzhou EHang Intelligence Technologies Co. Ltd, Carter Aviation Technologies LLC, and The Boeing Company, among others.

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This release was published on openPR.