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Urban Air Mobility Market by Component, Type, Platform, Range and Region | Global Forecast to 2030

Author: Sandeep Roy
by Sandeep Roy
Posted: Mar 09, 2019

This report provides an analysis of the Urban Air Mobility Market for the next twelve years. It discusses industry and technological trends that are currently prevailing in the market. It analyses factors driving and restraining the growth of this market, as well as the challenges faced it.

The market is estimated to be USD 5.3 billion in 2018 and is projected to reach USD 15.2 billion by 2030, at a CAGR of 11.33% during the forecast period. Key factors fueling the growth of this market include increasing demand for enhanced operational efficiency, reduced human intervention, and an increase in investment activities around the world.

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Based on component, the urban air mobility market has been segmented into infrastructure and platform. The platform segment is projected to grow at a higher CAGR than the infrastructure segment during the forecast period. The increasing demand for air taxi for intercity and intracity transportation at a lesser cost as compared to conventional aircraft is one of the major factors driving the growth of this segment.

Infrastructure has been further segmented into vertiports, charging stations, and traffic management. The traffic management segment is expected to account for the largest market share during the forecast period. Key market players are focused on incorporating Unmanned Traffic Management (UTM) in the existing Air Traffic Management (ATC) system to enable air transportation services using eVTOL with no human intervention. Platform, on the other hand, has been further segmented into air taxi, personal air vehicle, cargo air vehicle, and air ambulance. The air taxi segment is projected to grow at the highest CAGR during the forecast period due to huge investments in R&D activities for the development of the urban air mobility ecosystem. In September 2017, Lilium developed a five-seat flying taxi, worth USD 90 million, capable of a vertical take-off and jet-powered flight.

Based on operation, the market has been segmented into autonomous and piloted. The autonomous segment is projected to grow at a higher CAGR during the forecast period. The demand for autonomous eVTOLs for commercial applications, such as air taxi, personal transportation, and cargo in a shorter time has enhanced the growth of this segment.

Based on range, the market has been segmented into intercity and intracity transportation. The intercity segment is projected to witness a higher growth rate during the forecast period. eVTOLs with on-demand service will be ideal for intracity & intercity air transportation for passengers and cargo owing to their capability of the point-to-point drop. This efficiency is expected to lead to their higher demand during the forecast years.

The Europe urban air mobility market is projected to grow at the highest rate during the forecast period. Countries in this region, such as Germany and France, are investing heavily in the development and procurement of advanced eVTOL systems for commercial operations. Advancements in the manufacturing capability of emerging economies in this region will drive the market. Additionally, the ever-increasing trend of automation and globalization in these countries are fueling the growth of the European urban air mobility market.

Key Market Players

Some of the key players profiled in the urban air mobility market report include Kitty Hawk (US), Lilium (Germany), EHang (China), Volocopter (Germany), and A3 by Airbus (US). Partnerships and new product launches were key strategies adopted by these players to achieve growth in the market. These strategies accounted for the major share of the total growth strategies adopted by the leading players in 2017.

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Author: Sandeep Roy

Sandeep Roy

Member since: Nov 26, 2018
Published articles: 301

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