Urban Air Mobility Market Analysis 2023 Global Insights, Industry Demand, Size, Type, Application, Trends, Outlook 2030 and Key Players - Airbus SE, Volocopter GmbH, Hyundai Motor Company, EHang, Joby Aviation, Inc, Textron Inc, Airo Group Holdings, Inc

The urban air mobility market is projected to grow from USD 3.8 billion in 2023 to USD 28.5 billion by 2030, at a CAGR of 33.5% from 2023 to 2030. Various factors, such as the need for sustainable aviation in urban areas and increasing urban congestion, drive the market for urban air mobility. However, limited regulatory framework and public psychological obstacles involving UAM are limiting the overall growth of the market.

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"Cargo Air Vehicles: The second largest share in mobility type segment in the urban air mobility market in 2023."

The cargo air vehicles segment is projected to have the second-largest share in 2023. Cargo air vehicle manufacturing companies are focusing on the use of aerial cargo vehicles to deliver light and heavy cargo for intercity and intracity deliveries. The commercial logistics industry uses cargo air vehicles for applications such as inventory management, inventory tracking, parcel delivery, delivery of medical supplies, and food delivery. Thus, the increasing use of cargo air vehicles in commercial logistics is driving the urban air mobility market.

"E-commerce Companies: The second largest share in end-user segment in the urban air mobility market in 2023."

The E-commerce companies segment is projected to have the second-largest share in 2023.E-commerce companies have become integral participants in the urban air mobility (UAM) ecosystem. They actively contribute to the evolution of delivery services by harnessing UAM technology. By partnering with UAM service providers or establishing their own delivery networks, e-commerce companies optimize their logistics operations for enhanced efficiency and speed. The collaboration between e-commerce and UAM facilitates innovative solutions for last-mile delivery, elevating the customer experience and driving the growth of the e-commerce industry.

"Fixed-wing Hybrid: The second largest share in platform architecture segment in the urban air mobility market in 2023."

The fixed-wing hybrid segment is projected to have the second-largest share in 2023. Fixed-wing hybrid aircraft in urban air mobility (UAM) has experienced remarkable growth. Fixed-wing hybrid urban air mobility (UAM) aircraft combine the benefits of fixed-wing airplanes and electric propulsion systems. These aircraft use a combination of electric motors and traditional combustion engines, providing both power and lift. They are well-suited for longer-distance trips and can leverage existing airport infrastructure. The growth of this segment is due to ongoing efforts to enhance efficiency, reduce emissions, and promote sustainability in urban air transportation.

"The European region is estimated to have the second largest share in the urban air mobility market in 2023."

Europe is estimated to account for the second-largest share in urban air mobility in 2023. The European region for this study comprises France, the UK, Russia, Germany, Italy, Switzerland, and the Rest of Europe. Urban air mobility in Europe has experienced a remarkable surge in recent years. The growth of the segment is due to actively embracing developments in electric vertical takeoff and landing (eVTOL) aircraft and autonomous drones to revolutionize transportation within urban areas. Countries like Germany and the Netherlands are investing in the development of dedicated infrastructure and urban air mobility hubs. The European Union is also playing a crucial role by establishing regulatory frameworks to ensure the safe integration of drones and eVTOL aircraft into urban airspace.

The break-up of the profiles of primary participants in the urban air mobility market is as follows:

By Company Type: Tier 1 - 49%; Tier 2 - 37%; and Tier 3 - 14%
By Designation: C-Level Executives - 55%; Directors - 27%; and Others - 18%
By Region: North America - 32%; Europe - 32%; Asia Pacific - 16%; Latin America - 10%; Rest of the World - 10%

Major Players in the urban air mobility market are Airbus SE (Netherlands), Volocopter GmbH (Germany), Hyundai Motor Company (South Korea), EHang (China), Joby Aviation, Inc. (US), Textron Inc. (US), Airo Group Holdings, Inc. (US) and Vertical Aerospace (UK).

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