The Global Urban Air Mobility Market is expecting around 12% CAGR during 2021-26, cites MarkNtel Advisors in their recent research report. It attributes principally to the increasing population & growing road congestion across different countries, i.e., displaying a rising need for urban air mobility solutions to carry passengers or cargo at lower altitudes across urban & suburban areas.
Besides, since rapid urbanization & traffic are pushing the limits of transportation networks, the advent of urban air mobility is anticipated to gain significant momentum during the forecast period and address issues associated with congestion. Moreover, with growing concerns over degrading environmental conditions, governments of different countries worldwide are imposing favorable policies for the leading players to develop urban air mobility transportation faster, safer, cleaner, and altogether a more interconnected network.
Hence, substantial government investments and the active participation of the leading players in the research & development of urban air mobility are anticipated to augment the overall market growth during the forecast period. Additionally, an increasing number of start-ups & aerospace companies are also likely to contribute considerably to the market expansion in the coming years, further states the research report, “Global Urban Air Mobility Market Analysis, 2021."
Air Taxis to Witness Massive Investments through 2026
Based on the Component, Air Taxis Platforms are projected to display the fastest growth in the Global Urban Air Mobility Market during the forecast period. It owes principally to massive investments by governments & leading players in developing air taxis with advanced technologies like highly efficient batteries, sophisticated manufacturing techniques, and autonomous vehicles like self-driving automobiles, entwined with the construction of their prototypes.
Besides, the growing need to strengthen aircraft medical facilities is another prominent aspect instigating developments in Air taxis for emergency transportation across different locations, which, in turn, would significantly boost the Global Urban Mobility Market for Air taxis over the forecast period.
Massive Investments by Europe to Drive the Urban Air Mobility Market through 2026
Europe is expecting the fastest growth in the Urban Air Mobility Market during 2021-26. It owes principally to massive investments by governments of different countries in the region, coupled with the active participation of the leading players in bringing technological advancements for developing urban air mobility systems.
Countries like France, the UK, & Germany are amongst the prominent investors in the development & acquisition of advanced urban air mobility aircraft like Electric Vertical Take-Off & Landing (eVOTL) aircraft for commercial applications and playing a crucial role in driving the market through 2026, reveals MarkNtel Advisors in their research report, "Global Urban Air Mobility Market Analysis, 2021."
The leading players in the Global Urban Air Mobility Market are Aurora Flight Sciences, Siemens, Embraer, Volocopter, A3 by Airbus, Workhorse Group, Pipistrel, and Bell Helicopter.
Key Questions Answered in the Research Report: