NEW
YORK, July 15, 2024 /PRNewswire/ -- The
global urban air mobility market size is estimated to
grow by USD 5.28 billion from
2023-2027, according to Technavio. The market is estimated to grow
at a CAGR of 27.5% during the forecast
period. Increasing use of EVTOL aircraft in
military applications is driving market growth, with a
trend towards technological advancements.
However, limitations of existing battery technology
poses a challenge. Key market players include Airbus SE,
Archer Aviation Inc., Bartini Inc., EHang Holdings Ltd., Embraer
SA, Geely Auto Group, Honeywell International Inc., Joby Aviation
Inc., Kitty Hawk Corp., Lilium GmbH, Lockheed Martin Corp., Moller
International, Moog Inc., Raytheon Technologies Corp., The Boeing
Co., Volocopter GmbH, Wingcopter GmbH, Wisk Aero LLC,
Workhorse Group Inc., and Textron Inc..
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Type (Autonomous and
Piloted), Application (Delivery and Passenger mobility), and
Geography (North America, Europe, APAC, Middle East and Africa, and
South America)
|
Region
Covered
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Key companies
profiled
|
Airbus SE, Archer
Aviation Inc., Bartini Inc., EHang Holdings Ltd., Embraer SA, Geely
Auto Group, Honeywell International Inc., Joby Aviation Inc., Kitty
Hawk Corp., Lilium GmbH, Lockheed Martin Corp., Moller
International, Moog Inc., Raytheon Technologies Corp., The Boeing
Co., Volocopter GmbH, Wingcopter GmbH, Wisk Aero LLC,
Workhorse Group Inc., and Textron Inc.
|
Key Market Trends Fueling Growth
The urban air mobility market is witnessing significant trends,
with the adoption of real-time tracking technology for last-mile
delivery management being a major one. This enables consumers to
manage and modify package deliveries using online tools, providing
greater transparency and control. Large packages require customer
pick-up due to their value, posing a challenge for delivery
providers. To address this, they offer web and mobile applications
for managing delivery schedules of large cargo. Real-time updates
on delivery status, traffic, and weather help customers plan
accordingly. Big data is also optimizing last-mile delivery, with
companies like DHL using it to determine optimum delivery routes.
Technologies such as automation, online updates, real-time
tracking, and delivery time estimations are already in use.
Retailers like Amazon are exploring drone technology, while
autonomous ground vehicles (AGVs) and autonomous delivery vehicles
(ADVs) are gaining popularity. Regulatory challenges will be
addressed in the next decade, driven by automotive manufacturing
companies. These technological advances are expected to positively
impact the growth of the urban air mobility market.
Urban Air Mobility (UAM) and Advanced Air Mobility (AAM) are
revolutionizing transportation in metropolitan areas with flying
taxis, cargo air vehicles, and drones. These innovative urban
aviation services aim to reduce traffic congestion and improve
productivity. Courier services and public transportation are
exploring shared automated vehicles and on-demand mobility
solutions. Electric power is a key trend, with electric aircraft
and drones leading the charge. Volocopter, a leading player, is
merging with Uber to expand their platform operations. Range and
platform architecture are crucial considerations for air taxis and
personal air vehicles. Rotary wings and fixed wings hybrid vehicles
cater to intercity and intracity travel. Cargo, emergencies, and
people transportation are all part of this growing ecosystem. New
technology, collaborations, and intelligent aerial vehicles are
shaping the future of transportation businesses. Infrastructures
and fuel are essential elements in the development of this
sustainable solution for metropolitan economies.
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Market Challenges
• The urban air
mobility market for electric vertical takeoff and landing (eVTOL)
aircraft faces significant challenges due to the limitations of
current battery technology. Achieving the energy requirements for
flight is a major obstacle, as batteries must be lightweight yet
deliver a high energy density of at least 500Wh/kg for commercial
payload-range aircraft. Most commercial batteries can only provide
30-50% of this, resulting in a maximum range of 200-400 miles. To
meet the market's demands, advancements in battery technology are
crucial. These advancements must focus on increasing energy
density, improving re-charging speeds, and extending battery
lifecycles. Until these advancements are made, the urban air
mobility market's growth will be restricted.
• Urban Air
Mobility (UAM) market is experiencing significant growth with new
players entering the scene. Challenges include mergers and
acquisitions, collaborations, and strategic partnerships between
key players like Volocopter, Jaunt Air Mobility, and Microsoft.
Electric power is a major focus with the development of intelligent
aerial vehicles using rotary wings and fixed wings hybrid
technology. Range and platform operations are crucial for air taxis
and personal air vehicles, while cargo air vehicles and last-mile
delivery vehicles require specific load-carrying capacity. Platform
architecture, autonomy level (piloted or autonomous), intercity and
intracity applications, and fuel efficiency are essential
considerations. Sustainable transportation systems, refurbishing of
existing infrastructures, and the use of a cloud-based computing
system are smart strategies for transportation businesses adapting
to this new technology. The UAM ecosystem includes various players
from people movers to cargo and emergency services, requiring
diverse solutions for metropolitan areas. Infrastructures,
productivity, and passenger experience are key factors in the
success of UAM. New technology, such as eVTOL assembly plants and
aerial delivery drones, is driving innovation in this sector.
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Segment Overview
This urban air mobility market report extensively covers market
segmentation by
- Type
- 1.1 Autonomous
- 1.2 Piloted
- Application
- 2.1 Delivery
- 2.2 Passenger mobility
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Autonomous- Autonomous Urban Air Mobility
(UAM) refers to the utilization of unmanned aerial vehicles (UAVs)
or drones for transportation in urban areas. This technology
intends to offer cities a secure, efficient, and eco-friendly air
transportation alternative, minimizing traffic congestion and
enhancing mobility. Autonomous UAM vehicles function independently
and incorporate advanced technologies like sensors, navigation
systems, and artificial intelligence algorithms. Morgan Stanley
Research's equity analysts, in a recent BluePaper, discuss the
accelerating investment in autonomous flying aircraft, with
implications for passenger travel, military and defense, and
freight and package transportation sectors. The report projects a
USD1.5 trillion total addressable
market for autonomous aircraft by 2040, providing lucrative
opportunities for investors and positively impacting various
industries, thereby fueling the demand for UAM throughout the
forecast period.
For more information on market segmentation with
geographical analysis including forecast (2023-2027) and historic
data (2017 - 2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Aerospace Artificial Intelligence market is rapidly
expanding, driven by advancements in machine learning and
autonomous systems, enhancing flight safety, efficiency, and
predictive maintenance. Major players include Boeing and
Airbus.
The global eVTOL Aircraft market is revolutionizing urban
mobility with electric vertical takeoff and landing aircraft,
promising reduced congestion and lower emissions. Key players are
Joby Aviation and Lilium.
The global Air Conditioning market is growing steadily due to
rising temperatures and urbanization, with smart, energy-efficient
units gaining popularity. Leading companies include Daikin and
Carrier.
Research Analysis
The Urban Air Mobility (UAM) market is revolutionizing the
transportation industry by offering sustainable solutions for goods
delivery services and on-demand mobility in metropolitan areas.
Traffic congestion is a major challenge in densely populated
cities, and UAM provides an efficient alternative with electric
aircraft, flying taxis, and personal air vehicles. The market is
witnessing significant mergers & acquisitions and
collaborations between key players to strengthen their ecosystems.
Platform operations play a crucial role in managing the
complexities of UAM, including range, platform architecture, and
air traffic control. Cargo air vehicles, drones, and air ambulances
are also part of the UAM ecosystem, offering productivity gains for
transportation businesses. Last-mile delivery vehicles and fuel
efficiency are key considerations for the success of UAM. The
future of UAM holds the potential to transform urban transportation
and boost the metropolitan economy.
Market Research Overview
Urban Air Mobility (UAM) and Advanced Air Mobility (AAM) are
revolutionizing urban transportation with their innovative
solutions. UAM refers to the use of aircraft and other flying
vehicles for urban aviation services, including courier services
and shared automated vehicles. These technologies aim to reduce
traffic congestion in metropolitan areas and boost the metropolitan
economy. Sustainable solutions, such as electric aircraft and
drones, are at the forefront of this movement. Flying taxi services
and personal air vehicles are becoming a reality, with companies
developing electric powertrains, rotary wings, and fixed-wing
hybrids. The ecosystem includes mergers & acquisitions,
collaborations, and the development of platforms and platform
operations. The range of these vehicles varies, from intercity to
intracity travel, and they can be piloted or autonomous. Cargo air
vehicles and last-mile delivery vehicles are also part of this new
transportation paradigm. The passenger experience is a key focus,
with companies investing in intelligent aerial vehicles, smart
strategies, and sustainable transportation systems.
Infrastructures, such as refurbished runways, are being developed
to support this new mode of transportation. Companies like
Microsoft are investing in cloud-based computing systems and
partnerships with UAM players like Volocopter, Jaunt Air Mobility,
and eVTOL assembly plants to advance the industry. The future of
transportation is taking flight.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Application
-
- Delivery
- Passenger Mobility
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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