The global urban air mobility (UAM) market size is projected to grow from USD 3.8 billion in 2023 to USD 28.5 billion by 2032, at a CAGR of 33.5 percent during the forecast period 2024-2032 . Urban air mobility involves the use of air taxis and eVTOL aircraft to provide efficient and sustainable transport within cities.
The UAM infrastructure segment will witness the highest CAGR during the forecast period. This expansion is being driven by cities around the world devoting resources to building vertiports, which are designated areas for take-off and landing of air taxis and electric vertical take-off and landing (eVTOL) aircraft. These vertiports require special equipment such as charging stations, landing platforms and passenger facilities.
In addition, the development of airspace management systems is essential to ensure safety and efficiency during operations. The rapid expansion of UAM infrastructure, driven by the growing demand for sustainable transport, also contributes to reducing traffic congestion.
The rise of autonomous aircraft
The autonomous segment is another fast-growing area. Unmanned aircraft technology has emerged as a safe and reliable mode of transportation of the future, capable of reducing urban traffic congestion and improving the accessibility of cities. The latest developments enable automated navigation, successful take-offs and landings, ensuring safe, reliable and continuous transport. With the development of regulation and infrastructure, the introduction of autonomous aircraft in the UAM will significantly transform urban transport.
Ridesharing companies to capitalize on UAM growth
Ride-sharing companies plan to use drones or VTOL aircraft to provide customers with quick and easy rides in the sky. The proliferation of ride-sharing companies within the urban air transport system heralds a time when flying taxis rule our skies as on-demand air transport.
North America holds the largest market share
North America will be the highest CAGR and leading revenue by region during the forecast period. A number of factors have fueled the growth of urban air mobility in this region, including government support, increased demand for efficient transportation, and several technological advances. North America continues to attract many leading aerospace companies and innovators in their quest to disrupt last-mile solutions.
The UAM market in North America is further boosted by various applications such as air ambulance, cargo transportation, and air taxi. This expected growth will significantly transform the region’s transport.
List of key players
Major players in this field include, but are not limited to, Vertical Aerospace (UK), Textron Inc. (USA), Wisk Aero LLC (USA) and Airo Group Holdings, Inc. (USA). These include strong distribution networks and state-of-the-art manufacturing facilities in North America, Europe, Asia Pacific, Latin America and the rest of the world.
More players:
- Uber Technologies Inc. (USA)
- Airbus SE (Netherlands)
- Ehang (China)
- Safran SA (France)
- Volokopter (Germany)
- Lilium Aviation GmbH (Germany)
- Carter Aviation (USA)
- AIRSPACEX (USA)
- Aurora Flight Sciences (USA)
Where to find out more
Be sure to check out the comprehensive new report for more information on the market Global Air Mobility Market Size, Share and Trend Analysis by Factview Research. This report provides details on the global urban air mobility market size, forecast, segmentation, regional dynamics, industry trends and competitive intelligence.
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