The Asia-Pacific urban air mobility market is estimated to grow at a CAGR of 12.6% during the forecast period. The Asia-Pacific urban air mobility market is segmented on the basis of component and operation. Based on the component, the market is further segmented into infrastructure and platform. The infrastructure segment is further segmented into charging stations, traffic management, and others whereas, the platform segment is further classified into air taxi, personal air vehicle, air ambulance, and others. The platform segment dominated the global urban air mobility market.
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Asia-Pacific is home to several emerging economies and is seen as the potential market for the UAM owing to growing urbanization coupled with increasing traffic congestion and increasing high-income groups in the region. The growth of the Asia-Pacific urban air mobility market is primarily being driven by China, Japan, Singapore, and India’s fast-paced economies and a considerable growth in the transportation and logistics sector. Australia, Korea, and Taiwan are the other countries that contribute to the market due to growing investment in smart city projects coupled with growing urbanization in these countries. Moreover, the growing e-commerce logistics sector in emerging economies such as China, India is expected to be the major factor for the growth of the Asia-Pacific urban air mobility market in the near future.
India is estimated to exhibit a significant growth rate during the forecast period. Growing urban population is one of the essential factors that can encourage the demand for urban mobility services in the country. The growing population towards urban cities further raises the traffic congestion that will create a significant demand for urban air mobility solutions in the country. Along with this in 2018, HeliTaxi service started in Bengaluru city by the Thumby Aviation Pvt. Ltd. The Helitaxi service will provide ensure quick, seamless transfers to and from airports, at a cost similar to a luxury taxi fare. Additionally, the ride-sharing company Uber is planned to start Uber Air in Mumbai, Delhi, and Bengaluru the most congestive cities in the country by 2023. In May 2019, The Indian aviation company VTOL Aviation India Pvt Ltd, partnered with IIT Kanpur planned to build a prototype of the flying taxis in five years in the country which may have great potential for the urban air mobility services in India.
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Asia-Pacific Urban Air Mobility Market Segmentation
By Component
· Infrastructure
· Platform
By Operation
· Piloted
· Autonomous
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
