Global Urban Air Mobility Market Research Report: Information by Operation (Piloted, Autonomous), Architecture, Range (Inter-City, Intra-City), Infrastructure, Part, Propulsion, Hardware, Software, Platform, Application, and Region—Forecast till 2028

Market Scenario

The Vertical Take-off and Landing (VTOL) vehicle market (the parent market) comprises more than 100 manufacturers and as per the forecast, the value of the wider aerial mobility market, including passenger and cargo transportation, is expected to reach USD 1.5 trillion by 2040.

Urban air mobility (UAM) is an aviation industry term for on-demand and automated passenger or cargo-carrying air transportation services, typically flown without a pilot. Traffic is bad these days in urban areas and is getting worse. This creates an opportunity for such services to bring new ways for people to travel around cities and urban areas while reducing congestion.

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There has been a rapidly increasing interest in providing air transportation services within major metropolitan areas. The combination of increasing congestion and advancements in electric aircraft and automation makes the UAM market more attractive for vehicle manufacturers and transportation companies. There are many potential applications for new aircrafts.

Based on architecture, the UAM market has been divided into quadcopters, multicopters, tilt wingers, fixed wing, and hybrid constructions. The quadcopter segment is expected to remain the largest segment of the global urban air mobility market during the forecast period. Electric or hybrid-electric quadcopters are going to be the first choice for carrying passengers as they can take-off and land anywhere.

On the basis of range, the UAM market has been segmented into inter-city and intra-city. The inter-city segment is expected to be the largest during the forecast period as it is likely to offer short-haul, inter-city flights carrying multiple passengers.

On the basis of platform, the UAM market has been segmented into air taxis, air shuttles, air metro, air ambulances, DroNav, personal aerial vehicles, cargo aerial vehicles, and others. The air taxis segment is expected to be the largest during the forecast period. Industry watchers and proponents see air taxis becoming part of the transportation network and generating huge service revenues every year going forward. Airport shuttles and air taxis are expected to grow significantly since the markets are viable with a significant total available market value of USD 500 billion at market entry price points.

By region, North America is expected to remain the largest urban air mobility market during the forecast period and is also expected to register the highest growth rate. In the US, NASA is working on effective partnerships with industry, academia, and the Federal Aviation Administration (FAA) to identify and seek solutions to the challenges to accommodate remotely piloted aircraft. By 2020, NASA is expected to host a UAM ecosystem-wide challenge for participants to execute system level safety and integration scenarios within a robust and relevant environment.

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Europe is also likely to offer lucrative growth opportunities to market players in the coming years. Market players aim to mobilize cities and regions across Europe along with a wide ecosystem of stakeholders interested in launching practical mobility demonstration projects with ground and air mobility. Airbus is likely to act as the orchestrator and catalyst for a European community of urban air mobility.

Key Players

The key players in the global urban air mobility market are Airbus Group (France), Boeing (US), Volocopter GmbH (Germany), Honeywell International Inc. (US), Aurora Flight Sciences (US), Embraer SA (Brazil), PIPISTREL (Slovenia), Bell Helicopter Textron Inc. (US), Neva Aerospace (UK), Delorean Aerospace LLC (US), Kitty Hawk (US), Lilium (Germany), EHang (China), Workhorse Group Inc. (US), and Joby Aviation (US).

Research Methodology

The market values and forecast are derived using the MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository, and statistical modeling tools.

Secondary Research

In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace and defense magazines, white papers, corporate presentations, company websites, and paid databases, among others.

Primary Research

In this process, both the demand- and supply-side parties are interviewed to extract facts and insights about the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.

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