Press Release

Mounting Focus on Addressing Traffic Issues Globally to Boost the Urban Air Mobility Market

The Global Urban Air Mobility Market size was valued at USD 2.98 Billion in 2022 and is projected to grow at a CAGR of around 36.98% during the forecast period, i.e., 2023-28, 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, 2023."

Global Urban Air Mobility Market Market Segmentation:

1. By Operation (Piloted, Autonomous)
2. By Component (Platform (Air Taxi Passenger Arial Vehicle Cargo Arial Vehicle Air Ambulance Last Mile Delivery Air Shuttles Others), Infrastructure (Charging Stations Traffic Management Vertiports Maintenance Facilities))
3. By End User (Civilian, Last Mile Delivery, Military (Demining Reconnaissance Target Practice), Arial Imaging Systems, Unmanned Biologic Transport, Medical Air Rescue, Transport & Logistics, Road Traffic Patrol, Railway & Power Line Surveillance, Others)
4. By Range (Intracity, Intercity)
5. By Region(North America, South America, Europe, Middle East & Africa, Asia- Pacific)

Air Taxis to Witness Massive Investments Through 2028

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 Urban Mobility Market for Air taxis over the forecast period.

Massive Investments by Europe to Drive the Urban Air Mobility Market through 2028

Europe is expecting the fastest growth in the Urban Air Mobility Market during 2023-28. 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 2028, reveals MarkNtel Advisors in their research report, "Global Urban Air Mobility Market Analysis, 2023."

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Aurora Flight Sciences, Siemens, Embraer, Volocopter, A3 by Airbus, Workhorse Group, Pipistrel, Bell Textron, Neva Aerospace, Kitty Hawk, and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report:

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the regions?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?