Press release
Evolving Market Trends In The Advanced Air Mobility Industry: Innovative Advancements In Advanced Air Mobility With The Rotor Fold-Away System
Advanced Air Mobility Market Size
What Is the Expected Advanced Air Mobility Market Size During the Forecast Period?
The advanced air mobility market has grown swiftly, expected to climb from $9.66 billion in 2024 to $11.74 billion in 2025 at a CAGR of 21.5%, owing to urban population growth, regulatory support, interest from ride-share and logistics firms, infrastructure advancements, and increasing environmental focus.
The advanced air mobility market is set for sharp growth, reaching $25.3 billion by 2029 at a CAGR of 21.2%. Key growth factors include the implementation of regulatory frameworks, development of vertiports and infrastructure, urban route expansions, production cost reductions, and broader public acceptance. Expected trends include new propulsion systems, faster charging, autonomous flight technology, lightweight materials, and novel aerodynamic designs.
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What Are the High-Growth Segments in the Advanced Air Mobility Market?
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)
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What Key Drivers Are Expected to Influence Future Advanced Air Mobility Market Growth?
Growing urbanization and traffic congestion are fueling the advanced air mobility market. This transportation model offers alternatives to ground traffic in crowded cities. The World Bank projects urban populations will reach 6 billion by 2045, while U.S. road travel rose 1.3% year-on-year in May 2024, according to the Federal Highway Administration.
Which Companies Hold the Largest Share Across Different Advanced Air Mobility Market Segments?
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
What Trends Are Driving Growth in The Advanced Air Mobility Market?
Businesses in the advanced air mobility market are incorporating rotor fold-away systems to enhance versatility in vehicles. In October 2022, XPENG AEROHT launched an eVTOL flying car equipped with retractable rotors and a dual-engine backup. Designed for both road and aerial travel, it incorporates a fault-tolerant flight control system for increased safety and reliability.
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What Are the Emerging Geographies for The Advanced Air Mobility Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Advanced Air Mobility Market?
2. What is the CAGR expected in the Advanced Air Mobility Market?
3. What Are the Key Innovations Transforming the Advanced Air Mobility Industry?
4. Which Region Is Leading the Advanced Air Mobility Market?
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