The urban air mobility market size was USD 2.90 billion in 2020. The market is projected to grow from USD 3.01 billion in 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, the rising demand for creating faster, cleaner, safer, and interconnected transportation will fuel the growth of the market.
Get free Sample PDF Brochure:
List of Key Players Present in the Market
- 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.)
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.
Inquire Before Buying This Report:
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 the 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 aircraft 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 the 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 by 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.
- 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.
Speak to Analyst:
Read Other News:
In-Flight Entertainment & Connectivity Market Share
In-Flight Entertainment & Connectivity Market Growth
In-Flight Entertainment & Connectivity Market Forecast
In-Flight Entertainment & Connectivity Market Analysis
In-Flight Entertainment & Connectivity Market Opportunities
In-Flight Entertainment & Connectivity Market Trends
In-Flight Entertainment & Connectivity Market Size
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner – Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Connect us via Social Media Channels:
LinkedIn Facebook Twitter Blogs