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Urban Air Mobility Market Projected to Lead USD 14.6 Billion, at a CAGR of 11.23% by Emerging Trends, Share, Growth Rate, Opportunities And Market Forecast To 2027

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Urban Air Mobility Market Projected to Lead USD 14.6 Billion, at a CAGR of 11.23% by Emerging Trends, Share, Growth Rate, Opportunities And Market Forecast To 2027

October 01
05:01 2020
Urban Air Mobility Market Projected to Lead USD 14.6 Billion, at a CAGR of 11.23% by Emerging Trends, Share, Growth Rate, Opportunities And Market Forecast To 2027
The global urban air mobility market was valued at USD 5.4 Billion in 2018 and is anticipated to surpass USD 14.6 Billion by 2027. The market is anticipated to record a CAGR of around 11.23% during the forecast period i.e. 2019-2027.

The global urban air mobility market was valued at USD 5.4 Billion in 2018 and is anticipated to surpass USD 14.6 Billion by 2027. The market is anticipated to record a CAGR of around 11.23% during the forecast period i.e. 2019-2027 owing to the increasing demand for UAVs in commercial and civil applications and growing need for efficient transportation. The market is segmented by component into infrastructure which is further segmented by charging stations, vertiports and traffic management; and platform which is further segmented into air shuttles, air taxis, air metros, air ambulance, cargo aerial vehicle, personal aerial vehicle. The market is further segmented by operations into autonomous and piloted. On the basis of range, the market is segmented into intracity(20-100kms) and intercity (100-400kms). By verticals, the market is segmented into military, civilian, transport and logistics, medical air rescue, container terminal inspection, road traffic patrol and others.

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The Europe region is anticipated to witness highest growth during the forecast period attributed to increasing investments by leading eVTOL manufacturers in order to develop UAM for commercial applications and rise in the number of manufacturing bases for commercial eVTOLs. Investments are compelled by new product developments in the countries of the region. Countries in the region are focusing on developing the UAM ecosystem in order to facilitate cost-effective transportation. North America is expected to acquire largest share in the market and U.S. is the most prominent country for the growth of urban air mobility market.

Increase in the demand for enhanced human safety, efficiency and investment activities are expected to boost the market growth. Urban air mobility offers efficient and safe transportation with the use of piloted and autonomous aircraft for intercity and intracity commutation. Huge investments have been made by infrastructure providers, airspace integration and aircraft manufacturers for urban air mobility operations with other operations in the airspace. Growing human intervention for intracity and intercity transportation using eVTOL and increasing smart city investments for urban air mobility are expected to create huge opportunities in the market.

However, limited reliability of eVTOLs during transportation and lack of ability to predict the external environment is expected to operate as a key restraint to the growth of the urban air mobility market over the forecast period.

The report titled “Urban Air Mobility Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the urban air mobility market in terms of market segmentation by component, by operations, by range, by vertical and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the urban air mobility market which includes company profiling ofAirbus Group, Boeing, Volocopter GmbH, Honeywell International Inc., Aurora Flight Sciences, Embraer SA, PIPISTREL, Bell Helicopter Textron Inc., Neva Aerospace, Delorean Aerospace LLC, Kitty Hawk, Lilium, EHang, Workhorse Group Inc., and Joby Aviation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the urban air mobility market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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