Advanced Air Mobility refers to adopting hybrid & electric aircraft to move people & cargo in urban, suburban & rural areas. It is a transformative & disruptive airborne technology that helps transport people & things to locations, which are traditionally not served by current air transportation modes. Sometimes, Advanced Air Mobility is also known as Urban Air Mobility (UAM). However, Urban Air Mobility (UAM) is a subset of Advanced Air Mobility (AAM) that focuses more on the specific routes taking place within & around city centers.
The “Global Advanced Air Mobility Security Market” is anticipated to grow at a CAGR of around 12.5% during the forecast period, i.e., 2021 26, says MarkNtel Advisors. The market growth primarily attributes to the expansive amounts of data produced with the increasing use of Advanced Air Mobility services, such as passenger & cargo transportation, in urban mobility. Cybersecurity is emerging as one of the main focus areas of Advance Air Mobility traffic management.
As the cyber threat landscape changes every day, the need for raising awareness regarding cybersecurity & cyber threat mitigation is mounting among emerging Advance Air Mobility environments. In addition to this, to boost the Advance Air Mobility demand, an assurance about cybersecurity is critical for public acceptance. Hence, the factors cited above lead to fuel the overall market growth in the coming years, further states the research report, “Global Advanced Air Mobility Security Market Analysis, 2021.”
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain|
|Asia-Pacific: China, India, Japan, South Korea|
|South America: Brazil|
|Middle East & Africa: UAE, Saudi Arabia, South Africa|
|Key Companies Profiled||Hackerone, IBM, McAfee, Fortinet, KnowBe4, Microsoft, Sophos, Imperva, Splunk, Netsparker|
|Unit Denominations||USD Million/Billion|
The Impact of COVID-19 outbreak on the Global Advanced Air Mobility Security Market
Last year, the COVID-19 pandemic grounded most international & interstate air travel. Due to the pandemic, the Advanced Air Mobility Security Market's supply chain got severely impacted. The spread of the virus across several countries of the world negatively affected the R&D facilities of Advanced Air Mobility vehicles & the market witnessed a slowdown.
For instance, Airbus’ Urban Air Mobility (UAM) operations company, Voom, ceased its operations at the end of March 2020 and cited the COVID-19 pandemic as the primary cause of the closure. Apart from this, Uber offloaded its air taxi enterprise, Elevate, to Joby Aviation in December 2020. The COVID-19 pandemic prompted the company to dump its project, said Uber.
However, despite this, some Advance Air Mobility companies have claimed that they provide a unique benefit to society at a time of global uncertainty. Therefore, this trend in the aviation industry will continue to rise & lead the market to witness significant growth in the coming years.
By Air Mobility Type:
Passenger Air Mobility Grabbed the Largest Share of the Global Advanced Air Mobility Security Market
Passenger Air Mobility accounted for the largest share of the Global Advanced Air Mobility Security Market in the previous few years and is expected to maintain its leading position during the forecast period. It owes prominently to the mounting traffic congestions, especially in large metropolitan cities like Moscow, Mumbai, Bogota, Manila, Istanbul, Bengaluru, New Delhi, etc., infusing the need for faster inter-city & intra-city transport modes. In this regard, the Advanced Air Mobility concept has gained significant attention globally.
However, various risks of cyber breaches, vulnerable threat detection, and identity theft have also emerged as major challenges to Passenger Air Mobility due to the extensive data churned out & stored on On-Premise servers & cloud platforms during the process.
Defense Sector Captured a Sizeable Share of the Global Advanced Air Mobility Security Market
The growth of the Defense sector attributes to the possession of vast amounts of critical data stored in raw form, coupled with rapid technological advancements in eVTOLs. The defense sector experienced a much higher degree of cybersecurity attacks & breaches than any other sector. Hence, security risks associated with data compromising have been prevented mainly by implementing multiple layers of cybersecurity measures to reduce the amount of data loss in case of a breach.
On the other hand, the application of Advanced Air Mobility systems in the E-Commerce industry has been gaining immense popularity at a phenomenal rate globally. For instance: In May 2019, DHL Express & EHang entered into a strategic partnership to launch an intelligent & fully automated smart drone delivery solution in urban areas of China.
North America Dominated the Global Advanced Air Mobility Security Market with the Largest Share
North America dominated the Global Advanced Air Mobility Security Market. In the region, the US captured a lion’s market share due to humongous data availability and robust data traffic, leading to the exposure of a large volume of data.
The country has been at the forefront due to the integration of air mobility solutions with advanced technologies, support from the Federal Aviation Authority (FAA), rising number of startups providing innovative & technologically-driven air mobility services, and early adoption of Advanced Air Mobility systems for cargo & passenger transportation.
In April 2019, the Federal Aviation Administration (FAA) approved Wing (Alphabet-owned startup) to make commercial deliveries through drones in the US. The approval has facilitated Wing in making drone-based deliveries in Virginia.
Rising Applications of Air Mobility Services in Urban Areas to Favor the Market Growth
According to the United Nations data set, currently, more than 50% of the world’s population lives in urban areas & is expected to increase to 68% by 2050. Projections show the overall growth of the world’s population could add around 2.5 billion people to urban areas by 2050. With a larger population moving in urban areas, the need for efficient management of transportation systems increases. Hence, the demand for Advanced Air Mobility is increasing to solve issues related to traffic congestions by minimizing travel time and reduce stress on existing transport systems.
Regulatory Barriers Might Hinder the Market Growth
Despite technological advancements pushing AAM closer to reality, regulatory bodies, such as Federal Aviation Administration (FAA), European Union Aviation Safety Agency (EASA), and Civil Aviation Authority (CAA), are not yet ready to certify eVTOLs as they demand the aircraft to always be in the line of sight and follow fixed slots & paths. In addition, the high initial costs associated with the infrastructure required to facilitate AAM is another challenging factor that limits the Advanced Air Mobility Security market growth.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Advanced Air Mobility Security Market is projected to grow at a CAGR of around 12.5% during 2021-26.
A. Passenger Air Mobility is projected to attain the largest market share during the forecast period.
A. North America shall continue to grow at the highest CAGR during 2021-26 and present immense opportunities to the key leaders in the Global Advanced Air Mobility Security Market.
A. The expansive amounts of data produced and the increasing threat of cybersecurity are the key factors expected to drive the market during 2021-26.
A. The Global Advanced Air Mobility Security Market is projected to grow steadily owing to rising preferences for social distancing & avoiding long travel times.