Global Advanced Air Mobility Market Worth $24.56 Billion by 2029, Growing at 20.6% CAGR

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Advanced Air Mobility Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent times, the advanced air mobility market has seen exponential growth. Its size is projected to escalate from $9.66 billion in 2024 to $11.6 billion in 2025, witnessing a compound annual growth rate (CAGR) of 20.2%. This substantial growth during the historic period is credited to factors such as a surge in urban population, advancements in regulations, rising interest in urban air mobility solutions from ride-sharing companies and logistics firms, infrastructure improvement, and growing concerns about the environment.

What Is the Expected CAGR for the Advanced Air Mobility Market Growth Through 2029?
The size of the advanced air mobility market is predicted to witness significant expansion in the upcoming years, reaching a valuation of $24.56 billion by 2029, representing a compound annual growth rate (CAGR) of 20.6%. This projected growth can be attributed to factors such as the implementation of comprehensive regulatory frameworks and certification processes, the major advancement and installation of vertiports, charging facilities, and maintenance stations. Plus, the expansion to more cities and regions of urban air mobility routes and services, reduction in costs of air mobility vehicles and operations due to mass production and technological advancements, and growing trust and acceptance among the public for air mobility solutions as they become more prevalent and trustworthy. Key trends for the forecast period incorporate advanced propulsion systems, advancements in fast-charging technology, continued enhancement of autonomous flight systems, development of lightweight, durable materials, as well as intriguing aerodynamic designs.

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What Are the Primary Drivers Behind Advanced Air Mobility Market Growth?
Rapid urbanization and escalating traffic jams in massive urban conglomerates are anticipated to fuel the expansion of the advanced air mobility market in the future. Urbanization and traffic congestion denote the population surge within urban regions, which results in packed streets and escalating vehicular congestion. Several elements such as demographic growth, financial proliferation, inadequate public transit systems, and the rise in private vehicle ownership are contributors to the increasing urbanization and traffic congestion. Advanced air mobility offers a solution to urbanization and traffic congestion by providing effective, on-demand aerial transport, thus lessening dependence on terrestrial vehicles. As an illustration, the World Bank, a US-centric international financial organization, reported in October 2022 that over fifty percent of the global populace resides in urban areas. By 2045, this figure is estimated to increase by 1.5 times, amounting to six billion individuals. Moreover, a report from the Federal Highway Administration, a government agency in the US released in June 2024, revealed that road and street usage elevated by 1.3%, or 3.8 billion vehicle miles in May 2024 compared to the same month the previous year. Consequently, the rise in urbanization and traffic jams in major cities will spur the growth of the advanced air mobility market.

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What Are the Key Segments Driving Advanced Air Mobility Market 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)

What Are the Technological Trends Impacting the Advanced Air Mobility Market?
Key players in the advanced air mobility market are innovating with technology, including rotor fold-away systems, to increase the adaptability of vehicles and smooth the transition between aviation and terrestrial transportation. The rotor fold-away system allows the rotors on the vehicle to retract, ensuring a smooth shift from driving to flying. For instance, XPENG AEROHT, a China-based industrial automation firm, introduced its entirely electric vertical take-off and landing (eVTOL) flying car in October 2022. Not only is this revolutionary vehicle purposed for both terrestrial driving and air flight, but it also has a fashionable rotor fold-away system for an effortless shift between the two. It has a novel flight control system with fault-tolerant functions and a safety-driven dual-engine backup. The design has been enhanced, evolving from a horizontal dual-rotor to a distributed multi-rotor setup, simplifying the design while boosting reliability. The vehicle can ascend and descend vertically, avoiding traffic and barriers, whilst complying with low-altitude airspace rules.

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Who Are the Major Competitors in the Global 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

Which Region Dominates the Advanced Air Mobility Market Share in 2025?
Europe was the largest region in the advanced air mobility market in 2024. 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.

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