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Dec 10, 2019 7:30 PM ET

Key Market Dynamics in Urban Air Mobility (UAM) Market




iCrowd Newswire - Dec 10, 2019

The urban air mobility market is projected to grow from USD 5.3 billion in 2018 to USD 15.2 billion by 2030, at a CAGR of 11.33% from 2018 to 2030.

 

The increasing demand for UAM for commercial applications and technological innovations will created a significant demand for UAM for transportation of passengers and cargo with minimal human intervention and better safety are the major factors driving the market.

 

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The platform segment is expected to lead the urban air mobility market during the forecast period.

Based on component, the platform segment is expected to lead the urban air mobility market during the forecast period. The demand for eVTOLs is increasing due to the growing number of applications of eVTOLs in the commercial sector for activities such as air taxi, personal air travel, air ambulance, and cargo transportation. Presently, they are in the development phase but are expected to commercialize in the coming years. Passenger drones can be piloted manually or flown autonomously. These drones have the capability to vertically take-off and land, making it easier for them to land in crowded locations in cities

 

The autonomous segment is expected to grow at the highest CAGR during the forecast period.

Based on operation, the autonomous segment is expected to lead the urban air mobility market during the forecast period. Autonomous eVTOLs are more versatile and can be efficiently used to transport passengers and cargo without any human intervention, thus increasing their demand. The growth of the autonomous segment can be attributed to the significant investments to develop cost-effective solutions for passenger and cargo transportation for intracity and intercity transportation.

 

The autonomous segment is expected to grow at the highest CAGR during the forecast period.

Based on operation, the autonomous segment is expected to lead the urban air mobility market during the forecast period. Autonomous eVTOLs are more versatile and can be efficiently used to transport passengers and cargo without any human intervention, thus increasing their demand. The growth of the autonomous segment can be attributed to the significant investments to develop cost-effective solutions for passenger and cargo transportation for intracity and intercity transportation.

 

The Asia Pacific region is projected to lead the Urban Air Mobility (UAM) Market during the forecast period.

Europe is estimated to lead the urban air mobility market in 2018 and is projected to grow at the highest rate during the forecast period. The market growth in this region can be attributed to the increasing investment activities and growth in spending by the region’s countries on transportation operations.

 

Major players in the Urban Air Mobility (UAM) Market are Kitty Hawk (US), Lilium (Germany), EHang (China), Volocopter (Germany), and A3 by Airbus (US), among others.

 

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Keywords:    Urban Air Mobility Market

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