Air Mobility Market Highlights
UAM is a safe and efficient system for air passenger and cargo transportation within an urban area, inclusive of small package delivery and other urban Unmanned Aerial Systems (UAS) services, which supports a mix of onboard/ground-piloted and increasingly autonomous operations. Government agencies, industries, and other organizations are all actively gauging the prospect for UAM to disrupt the market and create new and innovative business models. Going forward, UAMs are expected to be largely used for various industrial applications, including civilian, last mile delivery, transport and logistics, aerial imaging systems, medical air rescue, and road traffic patrol, among others. This creates a pool of opportunity for such services providers to bring new ways for people to travel around cities and urban areas while reducing congestion.
Several major strategic developments have been undertaken on the VTOL and air taxi front, which have high growth potential. The key players in the market have invested extensively in product innovations and technological advancements. New and existing players in the urban air mobility market are expected to see sizable growth during the forecast period.
Air Mobility Market Segments
Based on architecture, the UAM market has been segmented into quadcopters, multicopters, tilt wingers, fixed wings, and hybrid constructions. The quadcopter segment is expected to remain the largest segment of the global UAM 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. They could be piloted and operated remotely or autonomous.
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 will offer short-haul, inter-city flights carrying multiple passengers. Inter-city travel will allow passengers to take off from locations very close to their homes or businesses and landing very close to the point of their destination rather than having to travel to an airport 40 to 50 miles outside the city.
On the basis of platform, the UAM market has been segmented into air taxis, air shuttles, air metros, 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. It is expected that users of air taxis will not only experience a very time-efficient mode of travel and safe, enjoyable flight experience, but will also be able to move at increasingly low cost as better batteries, new aircraft designs, and, autonomous flight technology to bring prices down towards the late 2020s.
Air Mobility Market 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).
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