The urban air mobility market is expected to record significant growth rates over the forecast period. The market is driven by increasing urbanization, the worsening bane of road congestion and new advances in aircraft technology and electric propulsion, the time is now ripe for the emergence of urban air mobility (UAM) as a new industry. It can be referred to as the transportation of persons or goods via flying vehicles over urban areas. Urban air mobility is an attractive business proposition. Not too far off in the future, what is currently the exclusive preserve of the ultra-rich – flying over all the traffic jams from one urban location to another – could become standard practice. It also creates new opportunities for travelers for whom personal comfort and speed are at a premium, as well as for rescue services and Para-public applications.
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Urban air mobility will gradually be integrated into the existing mobility landscape, bringing a time-efficient mode of travel and safe, enjoyable flight experience to more and more passengers at increasingly low cost. Saving significant amounts of time compared to taxis and subway lines, for instance, would make the use of urban air mobility services highly attractive to passengers. Bearing in mind the time taken for boarding/de-boarding and getting to and from a landing hub, eVTOL (electric vertical takeoff and landing) aircraft need trips to be at least 15 to 25 kilometers to deliver genuine-time savings and become the fastest urban mobility option. If they do achieve this goal, they can bypass (and potentially ease) the hassle of congestion, while also streamlining the poor connections to airports from which many major cities still suffer today.
In megacities such as São Paulo and New York, ultrahigh-net-worth individuals and top executives already commute by helicopter from the airport to the city center, or between points in the city center. By contrast, the switch to electric propulsion and eventually autonomous flight operations will slash purchase prices and running costs for eVTOL vehicles by order of magnitude, opening up the urban air experience to a much wider target group. However, legal, infrastructural, and technological hurdles remain, which could significantly hamper the urban air mobility market. Choosing the precise technology for every case is vital to the nascent industry.
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Current Market Trends Covered in the Report:
- Growing Investment Activities Across the Globe
- 5G Communication Networks, the Further Technological Enabler
- Range Expansion and Technological Advances
- Increasing Public Acceptance
- Collaborations are the Key to Growth
Global Urban Air Mobility Market – Segmentation
By Component
- Infrastructure
o Charging Stations
o Traffic Management
o Others (Vertiports)
- Platform
o Air Taxi
o Personal Air Vehicle
o Air Ambulance
o Others (Cargo Aerial Vehicle)
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.)
