Advanced Air Mobility Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

The global advanced air mobility market is projected to reach USD 9.0 billion by 2030 from USD 2.5 billion in 2020 at a CAGR of over 13% from 2021 to 2030. 

 

Advanced air mobility, also referred to as Urban Air Mobility (UAM) is a new aviation industry term for the concept of on-demand and automated passenger or cargo-carrying air transportation services. It is a highly advanced an innovative mode of transportation to evade traffic congestion on roads. AAM involves the usage of electric vertical takeoff and landing (eVTOL) aircraft to move cargo & people between places that are at present not very conveniently accessed by the existing aviation or land transportation modes. AAM systems involve in-flight services which make it easier for people to reach cities and geographically distant regions within the shortest intervals of times. Decreased travel times, decreased pollution levels, enhanced mobility options and low-noise vertical flights are some of the many advantages offered by AAMs, which currently range from single-passenger aircraft to large shuttles.

 

It is estimated that more than 160,000 unmanned electrical drones will fly around the globe by 2050, generating revenue of approx USD 90 billion annually.

 

GROWTH DRIVERS

The rapidly surging traffic congestion issues due to the growing global population, the rising demand for air transportation services, the soaring demand for alternative modes of transportation in advanced mobility for commercial applications, the increasing number of technological innovations in unmanned technology, the escalating R&D investments in the advanced air mobility industry, the growing focus on the sustainability of environment due to the rapidly depleting natural resources and the growing need for enhanced air mobility due to the propelling concerns pertaining to human safety are the primary factors driving the growth of the global advanced air mobility market.

 

Additionally, with the rapidly increasing number of on-road passenger vehicles burning fossil fuels and the increasing pollution levels globally, the governments and technology companies across different regions, especially in the developed ones around the globe have started allocating funds and are investing in advanced air mobility as a potentially applicable option for passenger and cargo transport for the future. This is giving rise to the rapid infrastructural development of AAM platforms across cities worldwide and in turn, adding to the growth of the global market significantly.

 

Moreover, the growing technological advancements such as advancements in the battery capacity and autonomy of aerial vehicles and the burgeoning investments in startups are also poised to bode well for the growth of the global market in the upcoming years.

 

Furthermore, other factors such as the increasing commercial applications of autonomous eVITOls resulting in the enhanced production of autonomous aircrafts, the launch of multiple advanced air mobility projects across the globe, the increasing replacement of small manned aircraft with drones coupled with the rising technological developments for human-free operations, the proliferating demand for faster delivery of packages by consumers in the e-commerce industry, the rising usage of UAVs in various civil & commercial applications and the aerospace giants focused on developing prototypes for evaluation across different regions are projected to further create ample growth opportunities for the advanced air mobility market during the forecast period.

 

However, the high manufacturing costs, the growing number of stringent regulatory procedures, the high energy consumption and the limited adoption of these systems due to social, technological, political, economic and legal factors may restrain the growth of the market during the forecast period up to some extent.

 

ADVANCED AIR MOBILITY MARKET SEGMENTATION

By Component

·         Infrastructure

§  Charging Stations

§  Vertiports

§  Air Traffic Management Facilities

§  Maintenance Facilities

·         Platform

§  Air Taxis

§  Air Shuttles and & Air Metro

§  Personal Air Vehicles

§  Cargo Air Vehicles

§  Air Ambulance & Medical Emergency Vehicles

§  Last-mile Delivery Vehicles

By Range

·         Intercity

·         Intracity

 

By Platform Operations

·         Piloted

·         Autonomous

§  Remotely/Optionally Piloted

§  Fully Autonomous

 

By Platform Architecture

·         Rotary Wing

·         Fixed-wing Hybrid

 

By End User

·         Ride Sharing Companies

·         Scheduled Operators

·         E-commerce Companies

·         Hospitals & Medical Agencies

·         Private Operators

 

By Unmanned Platform System

·         Aerostructures

·         Avionics

·         Electrical Systems

·         Propulsion Systems

·         Cabin Interiors

·         Software

 

By Region

·         North America

·          Europe

·         Asia Pacific

·         Middle East

·         Latin America

 

According to range, the intercity segment is anticipated to account for the largest share in the global advanced air mobility market during the forecast period. This can be attributed to the increasing number of platforms being used for intercity travels. However, the intracity segment is expected to register the highest growth rate during the forecast period. The primary factors attributable to the growth of the segment include the rising traffic congestion in advanced areas due to the surging population.

 

According to component, the infrastructure segment is expected to attain the highest CAGR during the forecast period of 2021-2030 owing to the growing deployment of eVTOL aircraft for intracity travel leading to an enhanced need for infrastructure. Moreover, the vertiports sub-segment is anticipated to hold the largest market share in the market by the end of the forecast period.

 

According to platform architecture, the fixed-wing hybrid segment is predicted to register the highest CAGR during the forecast period. The growth of the segment can be attributed to the comparatively higher stability of fixed-wing hybrids than that of the rotary wing eVTOL.

 

According to platform operations, the autonomous segment is projected to witness the highest growth rate during the forecast period.

 

According to unmanned platform system, the avionics segment is anticipated to dominate the market during the forecast period i.e. 2021-2030. The growth of the segment can be attributed to the soaring number of developments in the platform avionics systems from remotely piloted aircraft to fully autonomous aircrafts.

 

REGIONAL OUTLOOK

The European region is projected to account for the largest share in the global advanced air mobility market during the forecast. The region is also estimated to attain the highest CAGR in the market over the forecast period. The growth in the region could be attributed to the rapidly surging advanced air mobility projects in this region, the increasing investments by major economies of the region in the development and procurement of advanced eVTOL systems for commercial operations, the increasing advancements in the manufacturing capabilities of developing emerging economies and the ever-rising trend of automation and globalization in the region. Furthermore, the growing number of countries joining the Advanced Air Mobility (UAM) Initiative, a part of the European Innovation Partnership on Smart Cities and Communities (EIP-SCC) is also expected to create significant growth opportunities for the growth of the global advanced air mobility market in the region during the forecast period. The U.K, France and Germany are among the major contributors to the growth of this region.

 

The North American region is expected to hold the second largest share in the global advanced air mobility market during the forecast period. The growth in the region could be attributed to the high presence of aerospace giants such as Boeing and Airbus in the region, the increasing number of start-ups collaborating to develop and implement AAM technologies and the early adoption of new and innovative technologies in the region. The U.S. is expected to be the major contributor to the growth of the region during the forecast period.

 

KEY COMPANIES IN ADVANCED AIR MOBILITY MARKET

·         Aurora Flight Sciences

·         Bell Helicopter Textron Inc.

·         Delorean Aerospace LLC

·         Neva Aerospace

·         Wisk Aero

·         Lilium

·         Kitty Hawk

·         EHang

·         Jaunt Air Mobility

·         Volocopter

·         Uber Technologies Inc.

·         Airbus SE

·         The Boeing Company

·         Safran SA

·         Other Players