Comprehensive Advanced Air Mobility Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034

What combination of drivers is leading to accelerated growth in the advanced air mobility market?
The escalation of urban growth and the resulting traffic bottleneck in key metropolitan areas is anticipated to fuel the expansion of the advanced air mobility market. The mentioned urban growth and congestion spring from factors such as the boom in population, economic growth, insufficient public transport systems, and the surge in private vehicle acquisitions, all leading to densely filled roads and augmented vehicle traffic. Advanced air mobility offers a solution to these issues by offering efficient air travel on demand, thereby decreasing dependence on terrestrial transportation. For example, data from the World Bank, a US-based international financial institution, reports that more than half of the global population resided in urban areas as of October 2022. By 2045, this urban populace is estimated to grow by 1.5 times, amounting to 6 billion individuals. Additionally, according to a report from the Federal Highway Administration, a U.S. government agency, in June 2024, there was a 1.3% increment in travel on all roads and streets, translating to 3.8 billion vehicle miles, in May 2024 compared to the same month in 2023. Hence, the advanced air mobility market is likely to be propelled by the amplified urbanization and resulting traffic congestion in significant cities.

Get Your Advanced Air Mobility Market Report Here:
https://www.thebusinessresearchcompany.com/report/advanced-air-mobility-global-market-report

What is the projected compound annual growth rate (CAGR) of the advanced air mobility market from 2025 to 2034, and what factors influence it?
The value of the advanced air mobility market has seen an exponential surge in recent years. Projected to rise from a market size of $9.66 billion in 2024 to $11.74 billion in 2025, it shows a compound annual growth rate (CAGR) of 21.5%. The substantial growth during the historic years is due to factors such as the surge in urban population, advancements in regulatory norms, the increasing interest of ride-sharing companies and logistics firms towards urban air mobility solutions, infrastructure development, and burgeoning environmental concerns.

There is an anticipated surge in the size of the advanced air mobility market in the coming years. It is predicted to reach a total value of $25.3 billion by 2029, boasting a compound annual growth rate (CAGR) of 21.2%. The projected growth during this forecast period can be attributed to the establishment of robust regulatory and certification processes, significant strides in vertiports, charging stations, and maintenance facilities, expansion of urban air mobility routes and services to more cities and wider regions, decreasing expenses linked to air mobility vehicles and operations through mass production and technological advancements, along with an increase in public trust and acceptance of air mobility solutions as they become increasingly mainstream and dependable. Other noteworthy trends during the forecast period include advanced propulsion systems, breakthroughs in fast-charging technology, continuous upgrades of autonomous flight systems, the creation of lightweight, resilient materials, and novel aerodynamic designs.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=18211&type=smp

How are the latest trends influencing the growth of the advanced air mobility market?
In an effort to enhance the versatility of vehicles and enable smooth transitions between terrestrial and aerial transport, key companies in the advanced air mobility market are embracing technologies like the rotor fold-away system. This system allows the rotors of a vehicle to retract, enabling it to alternate effortlessly between driving on roadways and flying. For instance, in October 2022, XPENG AEROHT, an industrial automation enterprise based in China, unveiled its completely electric vertical take-off and landing, or eVTOL, vehicle. This groundbreaking vehicle, which is designed for both air travel and road driving, includes a state-of-the-art rotor fold-away system to simplify the switch between the two modes. It features a revamped flight control system complete with redundant systems for safety and a dual-engine backup. The design transitions from a traditional dual-rotor system to a distributed multi-rotor setup, which simplifies the design and improves dependability. It can vertically lift off and land, meaning it can bypass traffic and hurdles, in compliance with low-altitude airspace regulations.

What are the major segments of the advanced air mobility market and their role in driving growth?
The advanced air mobility market covered in this report is segmented -

1) By Type: Air Taxis, Drones, Other Types
2) By Component: Hardware, Software
3) By Mode Of Operation: Piloted Mode Of Operation, Autonomous Mode Of Operation
4) By Propulsion Type: Parallel Hybrid Propulsion, Electric Propulsion, Turboshaft Propulsion, Turboelectric Propulsion
5) By Application: Cargo Transport, Passenger Transport, Mapping And Surveying, Special Mission, Surveillance And Monitoring, Other Applications

Subsegments:
1) By Air Taxis: Electric Vertical Takeoff And Landing (eVTOL) Aircraft, Hybrid VTOL Aircraft, Autonomous Air Taxis, Piloted Air Taxis
2) By Drones: Delivery Drones, Passenger Drones, Surveillance Drones, Cargo Drones
3) By Other Types: Personal Air Vehicles (PAVs), Regional Air Mobility (RAM) Aircraft, Unmanned Aerial Vehicles (UAVs)

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18211

Which regions are key players in the growth of the advanced air mobility market?
Europe was the largest region in the advanced air mobility market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced air mobility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the advanced air mobility market?
Major companies operating in the advanced air mobility market are The Boeing Company, Airbus SE, Honeywell International Inc., Bell Textron Inc., Bristow Group Inc., Joby Aviation, Archer Aviation Inc., Lilium GmbH, Volocopter GmbH, Aurora Flight Sciences Corporation, Eve Air Mobility Inc., Wisk Aero LLC, Vertical Aerospace Ltd, Elroy Air Inc., Opener Inc., Urban Aeronautics Ltd, EHang Holdings Limited, Workhorse Group Inc., Pipistrel Co, The Helicopter Company

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=18211&type=smp

What Is Covered In The Advanced Air Mobility Global Market Report?

•Market Size Forecast: Examine the advanced air mobility market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the advanced air mobility market for a structured understanding.
•Key Players Overview: Analyze major players in the advanced air mobility market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the advanced air mobility market.
•Segment Contributions: Evaluate how different segments drive overall growth in the advanced air mobility market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the advanced air mobility market.
•Industry Challenges: Identify potential risks and obstacles affecting the advanced air mobility market.
•Competitive Landscape: Review strategic developments in the advanced air mobility market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.