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Urban Air Mobility Market Expected to Reach USD 18.99 Billion by 2030
Urban Air Mobility Market
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Market Size & Market Drivers
UAM demand is driven by the growing urbanization rate, which is projected to result in more than 60% of the population residing in cities by 2030. Now with the traffic crisis and finite ground infrastructure, it has steaming accelerated the requirement of urban mobility solution. Electric-powered eVTOL aircraft provide an environmentally-friendly alternative to current transport modes, helping to decrease urban emissions and provide commuter relief. Improvements in battery tech, lightweight composites and autonomous flight have rendered UAM vehicles more efficient, safer, and cheaper.
Trends In The U.S. Market And Investment
The UAM space is growing fast in the U.S. with bigger private and public investment. New certification standards for eVTOL aircraft were unveiled by the U.S. Federal Aviation Administration (FAA) in 2024, which significantly sped up the process for certifying commercial UAM operations. American business names like Joby Aviation and Archer Aviation have attracted a lot of investment for scaling the production and testing out. Moreover, the growing investor interest in the urban air mobility (UAM) sector is evidenced in part by Uber Elevate's partnership with Hyundai to begin commercial air taxi operations by 2025.
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Market Segmentation - Segment Star
The Passenger Transportation segment is expected to account for the largest market share owing to its increasing demand for on-demand air taxi services and urban air travel. Emphasis on passenger safety, better infrastructure development, and integration with digital booking platforms by companies will drive the market adoption.
Competitive Landscape
Five key players dominate the UAM market:
Airbus - Working on UAM solutions since 2014, and has recently invested in markets for autonomous flight technology and integrating urban infrastructure.
Joby Aviation - Gained FAA certification and will commence commercial services by 2025. Increasing work with NASA to support improved air traffic management.
Archer Aviation - Engaged in electric propulsion advancing; basted a $1 billion order from a larg-scale U.S. airline.
Lilium - Based in Europe; launched long-range seven-passenger eVTOL
Vertical Aerospace - Along with American Airlines and Rolls-Royce, it has entered a partnership to develop high-performance electric motors and battery systems.
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Regional Analysis
USA: The USA is the largest market and the national governments and regulatory framework encourage UAM. The FAA's streamlined certification process has quickened entry to market for new entrants.
UK: UAM infrastructure and vehicle development has been jointly funded by the UK Government through the Future of Flight Challenge.
Germany: The home of Lilium and Volocopter, both of which have government-supported pilot projects and infrastructure initiatives in the works
France: Airbus is aggressively growing its market presence with money going to autonomous/electric propulsion systems.
Japan: The government-funded "Smart Mobility Challenge" in Japan supports the building of eVTOL networks in urban areas.
China: Dominates the Asia-Pacific with significant focus on urban air mobility corridors and drone technology.
Conclusion
Urban Air Mobility (UAM) market emerges as an answer to urban congestion and environmental issues. Several factors are fueling this growth, including advances in electric propulsion technology and infrastructure investment, and government regulations conducive to growth in this sector. This burgeoning market is likely to be led by firms with expertise in autonomous flight capabilities, passenger safety and sustainable infrastructure, they predict.
For additional insights, visit:
♦ EV Test Equipment Market https://www.maximizemarketresearch.com/market-report/ev-test-equipment-market/160141/
♦ Europe E bike Market https://www.maximizemarketresearch.com/market-report/europe-e-bike-market/21420/
♦ Automotive Market in UK https://www.maximizemarketresearch.com/market-report/automotive-market-in-uk/86645/
♦ India Automotive Brushless DC Motors Market BLDC https://www.maximizemarketresearch.com/market-report/india-automotive-brushless-dc-motors-market/19798/
♦ Van Market https://www.maximizemarketresearch.com/market-report/van-market/167094/
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