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Urban air mobility (UAM) is associated with the aviation sector and is an automated passenger transportation service without a pilot. The UAM is a potential discovery to simplify the urban lifestyle. As per airbus.com, by 2030, around 60% of the population will be living an urban lifestyle. Population surge is predicted to generate unique mobility choices due to traffic congestion. Developing a convenient and sustainable solution linked to airspace above the metropolitan areas can be an ideal solution. UAM is an emerging sector that will change the course of the transportation market. UAM is designed to transport passengers or cargo at low altitudes within suburban areas. Furthermore, one can expect a new and exclusive way to travel via eVTOL (electric vertical take-off and landing aircraft) as well.

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Forecast Analysis of the Market

The global urban air mobility (UAM) market is estimated to augment in the coming years due to the rise in the urban population. For example, according to urbanet.info, in 1980, around 1.731 billion people across the globe were living in cities. The number enhanced to 3.968 billion in 2015 and the urban population is expected to surge to 6.419 billion by 2050. Also, the market growth is associated with the increasing traffic congestion in metropolitan areas. For example, in an article posted on Hawaii.edu, the yearly expenses of traffic congestion in Hawaii are around $690 million, paid via lost productivity and time from workers. Traffic congestion not only results in loss of time but also money for the nation. The urban air mobility vehicles can eliminate traffic congestion on the ground and offer smooth, hustle-free travel options for residents.

Apart from this, several prominent companies such as Bell Textron, SkyDrive, and much more are working on projects related to eVTOL manufacturing for UAM solutions. For instance, in August 2020, SkyDrive Inc, a start-up in manufacturing, sales, and development of the ‘flying cars’, declared the commercialization of eVTOL in Japan by 2023. This aspect is predicted to propel the market growth in the forthcoming years. Also, as per a new report by Research Dive, the global urban air mobility market is anticipated to upsurge at a CAGR of 89.8% during the 2020-2027 timeframe. Furthermore, the European market for urban air mobility is projected to accelerate due to the rapid adoption of advanced technologies in the region.

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Recent Developments

The leading players of the global urban air mobility market are listed as follows:

  • Kitty Hawk
  • Lilium Gmbh
  • Ehang
  • Airbus
  • Bell Textron
  • Wisk Aero LLC.
  • Volocopter GmbH
  • Joby Aviation
  • Workhorse Group Inc.
  • Archer Aviation

These market players are adopting numerous strategies like new product launches, building product portfolios, financing various research and development activities, mergers and acquisitions, and collaborations to flourish in the global market. For instance, in March 2021, Archer, an eVTOL developing and designing company, declared to launch its UAM network in Miami by 2024. The company’s UAM offers to move people throughout cities swiftly, safely, and cost-effectively. Furthermore, in the same month, Volocopter, an urban air mobility company, published a white paper and laid out thoughts on ‘major steps to achieve air mobility in the coming years. The white paper highlights the present challenges faced by the electric vertical take-off and landing sector along with solutions concentrating on holistic partnerships.

Covid-19 Impact on the Market

The global urban air mobility market is estimated to experience an undesirable impact during the Covid-19 mayhem. The reason for the market decline is the fluctuations in the demand and supply chain, thus resulting in the delay of the production process of the UAMs. However, the market participants are gearing in to combat the disruptions in the industry. For example, in February 2020, an autonomous aerial vehicle technology platform firm, Ehang Holdings Limited, declared the incorporation of UAM vehicles for medical emergencies during the Covid-19 outbreak.

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Future Scope of the Market

The global market is expected to face challenges due to heavy investments in research & development and infrastructure of UAMs. However, the need for urban air mobility in the healthcare sector is predicted to boost the market in the future years. A majority of the severely injured or critically ill patients tend to die due to traffic congestions. Therefore, these aspects are expected to enhance the need for urban air mobility in the coming years.   

About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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