Urban Air Mobility Market Projected to reach $15.2 Billion by 2030 at a CAGR of 11.33%

(I-TravelNewswire.Com, July 22, 2020 ) According to the new market research report on the “Urban Air Mobility Market by Component (Infrastructure (Charging Stations, Vertiports, Traffic Management), Platform (Air Taxi, Personal Air Vehicle, Cargo Air Vehicle, Air Ambulance)), Operation, Range, and Region – Global Forecast to 2030″, MarketsandMarkets: The urban air mobility market is projected to grow from USD 5.3 billion in 2018 to USD 15.2 billion by 2030, at a CAGR of 11.33% from 2018 to 2030.

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Browse 73 market data Tables and 36 Figures spread through 141 Pages and in-depth TOC on “Urban Air Mobility Market – Global Forecast to 2030“

Study Coverage

The report segments and analyses the urban air mobility market on the basis of component (Infrastructure [Charging Stations, Vertiports, Traffic Management] and Platform [Air Taxi, Personal Air Vehicle, Cargo Air Vehicle, Air Ambulance]), operation (piloted and autonomous), and range (intracity and intercity), and maps these segments and subsegments across the major regions of the world, namely, North America, Europe, Asia Pacific, the Middle East, and Latin America.

By component, the platform segment is expected to lead the market during the forecast period

Based on component, the urban air mobility market has been segmented into infrastructure and platform. The platform segment is projected to grow at a higher CAGR from 2018 to 2030. This growth can be attributed to the increasing demand for eVTOLs for intracity and intercity transportation. In addition, with significant investments pouring into the development of drone infrastructure, the possibility of using drones for passenger and cargo transport is gaining traction in the platform segment.

By operation, the autonomous segment is expected to lead the market during the forecast period

Based on operation, the urban air mobility market has been segmented into piloted and autonomous. The autonomous segment is projected to grow at a higher CAGR than the piloted segment during the forecast period. The demand for autonomous eVTOLs for commercial application is expected to drive this segment. Autonomous aerial vehicles can be used in several areas of operations. These vehicles are programmable autonomous robots that can carry out tasks at high altitudes with increased power capacity.

Major recent developments for urban air mobility:

Lilium developed a flying taxi worth USD 90 million which was tested in Germany. It is a five-seater jet capable of vertical take-off and jet-powered flight.

Workhorse Group unveiled its SureFly electric hybrid helicopter at the Paris Air Show. The SureFly is a personal helicopter/VTOL aircraft with four propeller arms, two fixed contra-rotating propellers on each arm, a backup battery to drive the electric motors if the engine fails, and a ballistic parachute that safely brings down the craft if needed

Bell Helicopter revealed its full-scale electric vertical take-off and landing (VTOL) air taxi vehicle during CES 2019. The air taxi, Bell Nexus, is powered by a hybrid-electric propulsion system and features Bell’s signature powered lift concept incorporating six tilting ducted fans that are designed to safely and efficiently redefine air travel.

Need for an alternative mode of transportation in urban mobility will lead to the growth of air taxi sub-segment of urban air mobility market from 2016-2030

Europe is projected to lead the market during the forecast period

Based on region, the Europe urban air mobility market is projected to witness the highest growth rate during the forecast period. The market growth in this region can be attributed to the increasing investments be leading eVTOL manufacturers to develop UAM for commercial applications. Investments are mainly driven by new product developments in European countries. Europe is one of the growing markets for eVTOLs as countries in this region, such as Germany, France, Estonia, and Bulgaria, among others are actively focused on developing the UAM ecosystem to facilitate cost-effective transportation. Another reason attributed to the high growth of this regional market is the increasing number of manufacturing bases for commercial eVTOLs in Europe.

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