Advanced Air Mobility Market to Surpass USD 65.4 Billion by 2034

The global advanced air mobility (AAM) market is projected to expand at a CAGR of 25.8% from 2025 to 2034, driven by electric vertical takeoff and landing (eVTOL) aircraft commercialization, increased funding in air taxi projects, and smart city mobility integration.

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Introduction
Pune, India - November 2025 - According to the latest report by Exactitude Consultancy, the Advanced Air Mobility Market is expected to reach USD 65.4 billion by 2034, up from USD 7.8 billion in 2024, growing at a remarkable 25.8% CAGR from 2025 to 2034. The market's explosive growth is attributed to the accelerating development of electric and autonomous aerial vehicles, infrastructure readiness, and collaborative efforts among aviation regulators and technology companies.

Key Takeaways
• Market Size 2024: USD 7.8 Billion
• Forecast 2034: USD 65.4 Billion
• CAGR (2025-2034): 25.8%
• Primary Growth Drivers: Electrification, urban mobility demand, sustainable transport policies, and smart city projects
• Key Companies: Joby Aviation, Archer Aviation, Volocopter, Lilium, EHang, EmbraerX, Boeing, Airbus, Hyundai, and Wisk Aero

Market Story
The advanced air mobility (AAM) ecosystem represents the next frontier of urban and regional transportation. It encompasses electric vertical takeoff and landing (eVTOL) aircraft, urban air taxis, cargo drones, and regional hybrid aircraft designed to ease congestion and reduce emissions.

Ongoing trials across North America, Europe, and Asia-Pacific demonstrate the feasibility of short-distance, low-noise, zero-emission air travel. AAM's promise lies in its ability to redefine urban logistics, emergency medical transport, and commuter mobility, paving the way for the future of on-demand, airborne mobility.
Governments and aerospace giants are joining forces to accelerate certification pathways, while investors are funding infrastructure projects such as vertiports, charging hubs, and air traffic management systems tailored for AAM operations.

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Segmentation Overview
By Platform Type:
• Air Taxis
• Air Shuttles
• Cargo Air Vehicles
• Personal Air Vehicles
• Regional Air Mobility Aircraft

By End Use:
• Passenger Transport
• Cargo & Logistics
• Emergency Medical Services
• Defense Applications

By System:
• Propulsion System
• Avionics
• Flight Control
• Software & AI Navigation

By Mode of Operation:
• Piloted
• Remotely Operated
• Fully Autonomous

By Region:
• North America: Early adoption with FAA partnerships and pilot projects.
• Europe: Strong policy backing under EASA's UAM roadmap.
• Asia-Pacific: Fastest growth led by Japan, South Korea, and Singapore.
• Middle East & Latin America: Emerging interest in air taxi corridors and cargo applications.

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Recent Developments
• Joby Aviation secured FAA Special Airworthiness Certification for its eVTOL prototype.
• Volocopter completed crewed test flights in Paris ahead of the 2024 Olympics.
• EHang received China's first Type Certification for autonomous eVTOL operations.
• Archer Aviation announced commercial route planning with United Airlines.
• Airbus Urban Mobility expanded partnerships for vertiport infrastructure in Europe.

Expert Quote
"Advanced Air Mobility is not just a transportation trend-it's a revolution in urban design and sustainable mobility," said Irfan Tamboli, Business Development Executive at Exactitude Consultancy.
"Our research shows that electric propulsion, lightweight composites, and autonomous flight systems will converge to make urban skies commercially viable within this decade."

Market Drivers
1. Electrification & Sustainability: Growing global demand for zero-emission air travel.
2. Urban Congestion: Increasing need for alternative intra-city and regional transport solutions.
3. Technological Advancements: Progress in lightweight materials, batteries, and AI flight control.
4. Government Initiatives: Supportive policies for pilot corridors, vertiport infrastructure, and eVTOL certification.
5. Defense and Emergency Use Cases: Rapid deployment in surveillance, rescue, and logistics missions.

Forecast & Future Outlook
The next decade will witness commercial deployment of eVTOL services in major cities, with the first revenue-generating routes expected by 2026-2027. The Asia-Pacific region is set to lead global expansion, supported by strong urbanization and government-led innovation frameworks.

As public acceptance grows, air taxis, medical evacuation drones, and regional commuter AAM networks will reshape transportation economics, sustainability, and connectivity.

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