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(Transportation-News.com, June 26, 2023 ) This Report Analyzes the Urban Air Mobility Market from 2020 to 2030. It discusses industry and technological trends currently prevailing in the market and the factors that drive, restrain, and challenge market growth globally. The urban air mobility market is estimated to be USD 3.8 billion in 2023 and is projected to reach USD 28.5 billion by 2030, at a CAGR of 33.5% during the forecast period. Key factors include the increasing need for efficient transportation, increased environmental concerns, and the growing demand for noise-free aircraft and green energy.
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Based on the Solution, the platforms segment is expected to lead the market in 2023. The platform segment includes aerostructures, avionics, propulsion, electrical, and software. By integrating the platform segment, UAM vehicles can operate seamlessly and safely within complex urban environments. The increasing advancements in artificial intelligence and machine learning algorithms have further improved the capabilities of UAM systems, enabling efficient route planning, collision avoidance, and real-time monitoring. The growth of the platform segment can be attributed to several factors, such as advancements in UAM technologies, the increasing aircraft designs by various companies and startups in the UAM market, and rising investments in the UAM industry to stimulate innovation and development thereby resulting in enhanced performance, reliability, and efficiency of UAM systems.
Based on platform operations, the piloted segment is expected to lead the market in 2023. Piloted vehicles in Urban Air Mobility (UAM) offer several advantages, such as familiarity and passenger reassurance, which accelerates public acceptance and regulatory approvals, which is crucial for the widespread adoption of UAM. Piloted vehicles also serve as a transitional phase towards fully autonomous systems, allowing for incremental advancements in technology and infrastructure. Additionally, with the integration of electric propulsion systems, piloted UAM vehicles contribute to reducing carbon emissions and promoting sustainable transportation. Thus, the growth of piloted segment paves the way for a transformative revolution in urban air mobility.
Based on range, the intercity (> 100 km) segment is expected to lead the market in 2023. The growth of the intercity segment is due to the advancements in electric and autonomous aircraft technologies, which have paved the way for faster, more efficient, and environmentally friendly transportation options. The benefits offered by UAM to save time and improve passenger convenience have also increased the demand for the intercity segment. As infrastructure and regulatory frameworks have adapted to support UAM operations, the industry has been poised for further expansion. This surge in intercity travel within the UAM sector represents a transformative shift in the way people commute and travel between cities, heralding a revolutionary future for transportation.
Based on platform architecture, the rotary-wing segment is expected to lead the market in 2023. The rising demand for efficient and sustainable transportation in congested cities has fueled the development of electric and hybrid-electric rotary-wing aircraft, offering reduced noise and emissions. The increasing developments in vertical takeoff and landing capabilities for urban transportation are driving this market segment. The widespread implementation and adoption of advanced technologies like autonomous flight systems to enhance the safety and efficiency of rotary wing operations in UAM is also impacting the growth of the rotary-wing segment.
Key Market Players
Major players operating in the urban air mobility market include Volocopter GmbH (Germany), Hyundai Motor Company (South Korea), Lilium Aviation GmbH (Germany), EHang (China), and Joby Aviation, Inc. (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. These companies have products with wider applications, a larger product footprint, significant market share, and broader geographical use cases. They have established a strong market presence and reputable products with strong business strategies.
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