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(Transportation-News.com, January 15, 2024 ) The Global Urban Air Mobility Market Size is poised for substantial growth, with a projected increase from USD 3.8 billion in 2023 to an impressive USD 28.5 billion by 2030. This surge is anticipated to occur at a remarkable Compound Annual Growth Rate (CAGR) of 33.5% from 2023 to 2030. A comprehensive market analysis reveals that factors such as the escalating demand for rapid and sustainable transportation solutions are propelling the expansion of the UAM sector.
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Key Market Segments and Insights:
Solution Segment: Infrastructure Takes the Lead
The infrastructure segment is predicted to register the highest CAGR during the forecast period. Cities globally are investing resources in developing vertiports, dedicated zones for air taxis and Electric Vertical Takeoff and Landing (eVTOL) aircraft. These vertiports require specialized amenities like charging stations, landing pads, and passenger facilities. The rise of UAM infrastructure aligns with the growing demand for sustainable transportation options, promising reduced congestion and improved urban mobility.
Platform Operations: Autonomous Aircraft at the Forefront:
The autonomous segment is expected to exhibit the highest CAGR in the UAM market. Technological advancements have paved the way for efficient and secure autonomous aircraft, contributing to the alleviation of urban congestion and improved accessibility. As regulations and infrastructure evolve, the use of autonomous aircraft in UAM is set to expand, reshaping the urban transportation landscape.
End Users: Ridesharing Companies Revolutionizing Urban Mobility:
Ridesharing companies are projected to experience the highest CAGR in the UAM market. Leveraging vertical takeoff and landing (VTOL) aircraft or drones, these companies offer convenient and time-saving aerial transportation options. The growth of ridesharing within the UAM ecosystem is transforming urban mobility, envisioning a future where flying taxis and on-demand aerial transportation become commonplace.
Regional Outlook: North America Takes the Lead:
North America is estimated to have the highest CAGR and largest share in the UAM market during the forecast period. Technological advancements, increased demand for efficient transportation, and government support have fueled the expansion of UAM in the region. The presence of established aerospace companies and innovative startups reflects North America's commitment to transforming urban air mobility.
Key Market Players: Leading the Charge
Major players in the UAM market include Textron Inc. (US), Wisk Aero LLC (US), Airo Group Holdings, Inc. (US), Wingcopter GmbH (Germany), and Vertical Aerospace (UK). These companies, equipped with robust manufacturing facilities and extensive distribution networks, operate across North America, Europe, Asia Pacific, Latin America, and the Rest of the World.
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