Urban Air Mobility Market 2019 to Encounter Countless Growth Opportunities at CAGR of 20% | Global Forecast 2028
Jun 12, 2019
Global Urban Air Mobility Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player's Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
Pune , India - June 12, 2019 /MarketersMedia/ —
Urban air mobility (UAM) is an innovative transportation option to avoid congestion plaguing many cities and suburbs around the world. UAM is likely to reduce congestion, reduce transportation delays, and enable on-demand travel to deliver cargo and quickly move people through the air.
The focus of the market is to create more intelligent, autonomous, and decentralized traffic management solutions that support operations in urban areas, from helicopters to drones. This will gradually pave the way for autonomous eVTOLs carrying passengers. There are projects across the public and private sector being evaluated on how all these different types of flying vehicles might interact sharing the same airspace.
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Leading Players
• Airbus Group (France)
• Boeing (US)
• Volocopter GmbH (Germany)
• Honeywell International Inc. (US)
• Aurora Flight Sciences (US)
• Embraer SA (Brazil)
• PIPISTREL (Slovenia)
• Bell Helicopter Textron Inc. (US)
• Neva Aerospace (UK)
• Delorean Aerospace LLC (US)
• Kitty Hawk (US)
• Lilium (Germany)
• EHang (China)
• Workhorse Group Inc. (US)
• Joby Aviation (US)
Market Segments
The global urban air mobility market has been segmented based on architecture, range, infrastructure, part, propulsion, hardware, software, platform, operation, application, and region. Based on architecture, the market is divided into quadcopters, multicopters, tilt wings, fixed wings, and hybrid constructions. The quadcopters segment is expected to remain the largest growing segment of the global UAM market during the forecast period.
Based on the parts type, the UAM market is segmented as motors, fans, wings, winglets, and landing gears. Motors are expected to remain the most dominant part type in the total UAM market during the forecast period of 2018 to 2028.
Based on the hardware type, the global UAM market is segmented as vehicle, propulsion, battery, avionics, and others. The vehicle segment is likely to witness a high growth rate during the same period.
The global UAM market has been categorized by operations as piloted and autonomous. The autonomous segment is expected to register the highest growth in the total UAM market during the review period.
Geographic Overview
Based on region, the global urban air mobility market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to dominate the global market and is expected to register the highest CAGR over the forecast period. Presence of prominent players, such as Boeing, Honeywell International, Bell Helicopter, and Kitty Hawk, among others are expected to bolster the market growth.
The US accounts for the majority of the North American urban air mobility market. Joby Aviation, a California-based company, has received USD 100 million in funding from a group of investors led by Toyota and Intel to build an all-electric flying taxi capable of vertical take-off. The money will be used to develop the firm’s megadrone, which can reach speeds of 200mph (321kph) powered by lithium nickel cobalt manganese oxide batteries.
In the US, different cities have put forward different mobility needs they wish to deal with, and how the initiative has been structured is to identify the cities and regions that are willing to be engaged to lead the definition and execution of urban air mobility demonstrators featuring the third dimension to address these needs.
In the US, by the year 2020, the air taxi market has a potential demand of approximately 55,000 daily trips that can be served by 4,000 aircraft. For the initial years of operations, the annual market value is projected to be around USD 2.5 billion, based on near term market entry assumptions.
The fastest growing region after North America in the urban air mobility market is Europe. The UAM initiative of the European Innovation Partnership on Smart Cities and Communities (EIP-SCC) has been picked up by many European countries to explore the potential of drones in an urban context. Bordeaux, a Southwestern region of France, has proposed to study the implementation of urban mobility to improve intercity mobility as a part of the EIP-SCC program.
Furthermore, several Belgian cities in Europe took the lead in the use of drones in emergencies by joining the urban air mobility initiative of the European Innovation Partnership (EIP-SCC), supported by the European Commission. Ghent and Brussels have already signed the Manifesto.
In Europe, Airbus leads the urban air mobility initiative initiated by the EU in 2017.
China, Japan, and India, along with the rest of Asia-Pacific, have been profiled in the report. The Indian market is expected to be the most lucrative during the forecast period. Mumbai is expected to get Make in India air taxi by 2025. Mumbai-based VTOL Aviation Private Limited in collaboration with technology experts at the Indian Institute of Technology (IIT) Kanpur is working quietly to develop air taxis that may be a game-changer for India in the global urban air mobility market.
The Rest of the World includes the Middle East & Africa and Latin America. The urban air mobility market in the Middle East & Africa is set to record the highest CAGR during the review period. Cities and regions that wish to engage in the UAM initiative need first to evaluate whether they have a clear mobility need that could be potentially and sustainably addressed through urban air mobility. Urban mobility is transforming the ecosystem by fostering the voice of cities at the front of the innovation and by actively involving citizens as co-creators. The aim is to have more active participation of the citizens and the cities in the emerging public dialogue and debate on developing drone services in the cities.
In the Middle East, Dubai is already training police officers to pilot hoverbikes. It is also committed to build infrastructure and support flight regulations. A Dubai flying taxi would serve a population that can afford such a service and there is only one road linking the financial center Dubai to government seat Abu Dhabi 90 miles away.
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