Companies Covered in Urban Air Mobility Market are Textron Inc. (U.S.), Uber Technologies Inc. (U.S.), Airbus SE (Netherlands), Ehang (China), Safran SA (France), Volocopter (Germany), Lilium Aviation GmbH (Germany), Carter Aviation (U.S.), AIRSPACEX (U.S.), Aurora Flight Sciences (U.S.) and other key players
Pune, India, July 27, 2022 (GLOBE NEWSWIRE) -- The global urban air mobility market size was USD 2.90 billion in 2020. The market is projected to grow from USD 3.01 billion 2021 to USD 8.91 billion in 2028 at a CAGR of 16.77% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Urban Air Mobility Market, 2021-2028.” Factors such as increasing urbanization and degrading traffic conditions will boost the market during the forecast period. Also, rising demand for creating a faster, cleaner, safer, and interconnected transportation will fuel the growth of the market.
COVID-19 Impact
COVID-19 Pandemic to Usher Unparalleled Challenges for the Market Leading to Limited Growth
The ongoing COVID-19 pandemic has significantly harmed the supply chain of the urban air mobility sector. Constant lockdowns and volatility in raw material pricing have hampered the development cycle for UAMs, further delaying the launching of new products. Many dominant players have lost gross business revenues due to lockdowns and restrictions on people’s movements. These measures have led to delays in development and lower revenue generation for the prominent players.
List of Key Players Present in the Urban Air Mobility Market are:
Textron Inc. (U.S.)
Uber Technologies Inc. (U.S.)
Airbus SE (Netherlands)
Ehang (China)
Safran SA (France)
Volocopter (Germany)
Lilium Aviation GmbH (Germany)
Carter Aviation (U.S.)
AIRSPACEX (U.S.)
Aurora Flight Sciences (U.S.)
Report Scope & Segmentation:
Report Attribute
Details
Market size value in 2021
USD 3.01 Billion
Revenue forecast in 2028
USD 8.91 Billion
Growth Rate
CAGR of almost 16.77% during 2021-2028
Base Year
2020
Historic Years
2017-2019
Forecast Years
2021- 2028
Segments Covered
By Vehicle Type Analysis, By Range Analysis, By Operation Analysis
Forecast Units
Value (USD Billion), and Volume (Units)
Quantitative Units
Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered
North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World
Countries Covered
Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered
Textron Inc. (U.S.), Uber Technologies Inc. (U.S.), Airbus SE (Netherlands), Ehang (China), Safran SA (France), Volocopter (Germany), Lilium Aviation GmbH (Germany), Carter Aviation (U.S.), AIRSPACEX (U.S.), Aurora Flight Sciences (U.S.) and Other key players
Report Coverage
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope
Avail customized purchase options to meet your exact research needs.
Vehicle Type, Range, Operation, End User, and Region are studied for the Market
Based on vehicle type, the market is segmented into air taxis, air metro, air ambulance, last-mile delivery, and others.
By range, the market is divided into intercity and intracity.
In terms of operation, the market is broken down into including piloted, hybrid, and autonomous.
By end user, the market is fragmented into ride-sharing companies, scheduled operators, e-commerce companies, hospitals and medical agencies, and private operators.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage
The report focuses on providing a detailed insight into the inner working of the urban air mobility sector by uncovering the segments and subsegments for the market. Factors such as R&D capabilities and optimization of the manufacturing process for the dominant players are covered. Besides, ongoing market trends and upcoming industry developments are noted. The report also focuses on several growth factors that have contributed for the growth of the market over the past years.
Rising Demands for Green Solutions to Bolster Market Growth
Rising demand for alternative modes of transport and rocketing road traffic is expected to boost the urban air mobility market growth during the forecast period. Also, growing urban population and increasing growing urban population will fuel the growth of the market. Additionally, utilization of autonomous UAMs is expected to bore lower pollution, short travel times, and decrease demand on current transportation infrastructure. These factors will boost the market growth.
However, factors such as rising security concern, high initial investment, and limited government supportive in terms of regulatory framework will limit the market during the forecast period.
Regional Insights
North America to Hold Largest Market Share Due to Presence of Dominant Players
North America will capture the largest urban air mobility market share during the forecast period, owing to increasing presence of dominant players coupled with rising adoption measures. Also, rising air traffic among residents will fuel the demand for air taxis and airport shuttle services. Factors such as last-mile and freight services coupled with eVTOL aircrafts will boost the market growth.
Europe will register the fastest growing market during the forecast period due to the region being the breeding ground for a majority of technology innovations. Rising investment opportunities as well as presence of prominent players will foster growth for the market.
Product Development to be at the Forefront for Developing a Sustainable Market
The market for urban air mobility is still at a budding stage with the dominant players competing for capturing a larger consumer base. The market is expected to grow at a steady rate through strategies such as collaboration, mergers & acquisitions, and developing and launching novel products to capture an attentive audience. For example, in May 2021, Volocopter revealed the Voloconnect. It is an electric vertical take-off and landing aircraft (eVTOL), which is designed for connecting suburbs and cities. This product will integrate with Volocopter’s existing intra-city aircraft series.
Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
Latest technological Advancements
Porters Five Forces Analysis
Supply Chain Analysis
Quantitative Insights- Impact of COVID-19 Pandemic Urban Air Mobility Market
Impact of the COVID-19 pandemic on the Urban Air Mobility Market
Steps taken by Industry/ Companies/ Governments to overcome the impact
Key Developments in the Industry in Response to COVID-19 pandemic
Potential opportunities due to COVID-19 Outbreak
TOC Continued…!
Industry Development
July 2021: Klein Vision Flying Car completed its maiden intercity trip. The ride was recorded at 35 minutes and took around 3 minutes to transform from a car to an aircraft.
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