Urban air mobility is a term used in the aviation industry for the autonomous and on-demand carriage of the passengers and cargo, generally operated pilotless or with human intervention.
According to MarkNtel Advisors’ research report titled “Global Urban Air Mobility Market Analysis, 2020”, the Global Urban Air Mobility market is anticipated to grow at a CAGR of around 12% during 2020-25, due to its enhanced payload capacities, low operational cost, and increasing operational efficiency. Further, the growing investment activities on the development of eVTOLs across the globe is expected to boost market growth during the forecast period.
The major companies in the commercial industry are increasing deploying aerial services, due to the growing importance of operational efficiency and the cost benefits offered by the UAV due to its low operational costs. The Urban Air Mobility market is anticipated to attain lucrative growth in the forthcoming years, due to an increasing level of road congestion and the anticipated extent of increase in applications of UAM for multi-variant operations such as weather monitoring, passenger transportation, carrier delivery services, and rescue operations, among several others.
Autonomous Segment is Expected to Witness Noticeable Growth Rate During 2020-25
Based on the operation segmentation, the autonomous segment is expected to witness significant growth in the upcoming years. However, the market share of the fully-autonomous segment is less than the piloted category. The growth in the investments in the integration of automation technologies in the aircraft and the commercialization of unmanned aerial vehicles and drones would further increase the autonomous market size. The autonomous eVTOLs are much more efficient than the piloted aircraft for the transportation of passengers as well as cargo items.
Extensive Growth Opportunities Exist for the Global Urban Air Mobility Market
The Global Urban Air Mobility market is advancing at a significant rate, due to the current promotional stage of the product life cycle. Also, the companies are making an investment toward the deployment of the urban air mobility in the commercial sector across the globe. For instance, BLADE India, the Indian subsidiary of the US-based start-up BLADE Urban Air Mobility, Inc, rolled out its version of urban air mobility services in India, as in November 2019.
According to MarkNtel Advisors’, some the of key competitors operating in the Global Urban Air Mobility market include Aurora Flight Sciences, Siemens, Embraer, Volocopter, A3 by Airbus, Workhorse Group, Pipistrel, Bell Helicopter, etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of Global Urban Air Mobility Market during 2020-25?
A. The market size of Global Urban Air Mobility Market during 2020-25 is forecast to be around 12%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North America will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in Global Urban Air Mobility Market?
A. Aurora Flight Sciences, Siemens, Embraer, Volocopter, A3 by Airbus, Workhorse Group, Pipistrel, Bell Helicopter are few of the leading players in the Global Urban Air Mobility Market.
Q. Does the report scope cover Global Urban Air Mobility type wise market statistics also?
A. Yes, the scope of the report encompass detailed aircraft component wise statistics based on various subcategories.
Q. Which operational segment would emerge as an opportunity area for players in Global Urban Air Mobility Market?
A. Based on operational segment the autonomous segment will continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Urban Air Mobility Market.
