Market Insight
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.
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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).
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 platform, the Urban Air Mobility 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.
Based on propulsion, the UAM market constitutes the electric and hybrid segment. The hybrid segment is expected to show better growth than electric during the forecast period.
Regional Analysis
By region, North America is expected to remain the largest UAM market during the forecast period and is also expected to register the highest growth rate. To improve the urban transport network and offer an alternative to congested megacity transport systems, the market players in the US are working with the diverse ecosystem to develop partnerships and a portfolio of projects to make urban air mobility a success.
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