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(I-TravelNewswire.Com, April 13, 2022 ) The report "Urban Air Mobility Market by Component (Infrastructure, Platform), Platform Operation (Piloted, Autonomous), Range (Intercity, Intracity), Platform Architecture, Unmanned Platform Systems, End User and Region - Global Forecast to 2030", is projected to grow from USD 2.6 billion in 2020 to USD 9.1 billion by 2030, at a CAGR of 13.5% from 2020 to 2030. The increasing demand for an alternative mode of transportation in urban mobility for commercial applications and technological innovations in unmanned technology are the major factors driving the market.
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COVID-19 Impact on Urban Air Mobility market
With the COVID-19 pandemic, the UAM supply chain is fairly impacted. The spread of COVID-19 in the US and EU is expected to have a negative impact due to lockdowns at research & development facilities of UAM vehicles. For instance, Uber offloaded its Elevate unit to Joby Aviation in December 2020, the company that was at the forefront of launching on demand aviation in a few cities by 2023.
The lockdown in Asia Pacific has resulted in business loss to many upcoming startups in the UAM industry. Many startups have failed to continue working in the space due to delays in development and loss of capital. The commercialization of UAM seems delayed by a year compared to pre-COVID-19 conditions.
Urban Air Mobility Market Ecosystem:
Companies that provide platforms, as well as the necessary ground infrastructure, are the key stakeholders in the UAM market ecosystem. Investors, funders, academic researchers, integrators, service providers, and licensing authorities serve as the major influencers in this market.
Based on range, the intercity segment is projected to lead during the forecast period
Based on range, the market has been segmented into intercity and intracity transportation. The intercity segment is projected to lead the market during the forecast period, owing to large number of platforms being used for intercity travel, and the cost of platform being significantly high compared to intracity platforms.
The infrastructure segment is projected to at the highest CAGR from 2025 to 2030
Based on component, the urban air mobility market has been segmented into infrastructure and platform. The infrastructure segment of the urban air mobility market is projected to at the highest CAGR from 2025 to 2030. This growth is attributed to the increasing deployment of eVTOL aircraft for intracity travel leading to an increase in the need for infrastructure.
The fixed-wing hybrid segment is projected to grow at the highest CAGR from 2025 to 2030
By platform architecture, the fixed-wing hybrid segment is projected to grow at the highest CAGR from 2025 to 2030, owing to its higher stability compared to rotary wing eVTOL. To carry passengers, the platform needs higher stability to ensure safety of passengers on board, especially for remotely piloted or fully autonomous aircraft.
Europe is projected to be the fastest-growing market for urban air mobility during the forecast period
The Europe urban air mobility market is projected to grow at the highest rate during the forecast period. Countries in this region, such as Germany, UK, and France, are investing heavily in the development and procurement of advanced eVTOL systems for commercial operations. Advancements in the manufacturing capability of emerging economies in this region will drive the market. Additionally, the ever-increasing trend of automation and globalization in these countries are fueling the growth of the European urban air mobility market.
Key Market Players
Some of the key players profiled in the urban air mobility market report include Wisk Aero (US), Lilium (Germany), EHang (China), Jaunt Air Mobility (US) and Volocopter (Germany). The players are mostly engaged in new product launches & developments and having a strong global presence will enhance their position in the urban air mobility market.
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Mr. Aashish Mehra
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