According to recent findings, the  Global Urban Air Mobility Market size was valued at USD 2.98 Billion in 2022 and is projected to grow at a CAGR of around 36.98% during the forecast period, i.e., 2023-28.

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

Urban Air Mobility Overview:

The market's growth is driven primarily by the exponentially rising population and an expanding vehicle fleet, leading to increasing road congestion, i.e., augmenting the need for alternative transportation like urban air mobility solutions.

In this regard, governments of different countries worldwide are substantially investing in the market and generating growth opportunities for the leading players to research & develop technologically advanced urban air mobility networks. Data shows that numerous emerging start-ups & aerospace companies are indulging in expanding the air mobility space, and the market is witnessing an increasing number of new prototypes to address traffic issues.

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Urban Air Mobility Outlook and Market Driver:

Surge in Vehicle Fleet Size Resulting in Massive Road Congestion: A sudden surge in population growth and the expanding number of vehicles significantly strain existing infrastructure, resulting in frequent traffic congestion. Citing challenges posed by road congestion, flying taxis, and autonomous aerial vehicles are being explored as they utilize the airspace to provide faster and more efficient travel options within cities. As a result, these innovative transportation modes, as a means to improve the overall efficiency of urban transportation networks, are gaining prominence worldwide, particularly across densely populated areas. Thus, the market outlook for urban air mobility seems promising during the forecast period.

Global Urban Air Mobility Segmentation Analysis:

By Operation

• Piloted
• Autonomous

According to reports,Here, autonomous operations are anticipated to witness the fastest-growing demand during 2023-28.

By Range

• Intracity (20 Km – 100 Km)
• Intercity (101 Km – 400 Km)

By Component

• Platform
  • Air Taxi
  • Passenger Arial Vehicle
  • Cargo Arial Vehicle
  • Air Ambulance
  • Last Mile Delivery
  • Air Shuttles
  • Others
• Infrastructure
  • Charging Stations
  • Traffic Management
  • Vertiports
  • Maintenance Facilities

According to reports,Of all components, the demand for Air Taxis is anticipated to display the fastest growth in the Global Urban Air Mobility Market during the forecast period. 

By End User

• Civilian
• Last Mile Delivery
• Military
  • Demining
  • Reconnaissance
  • Target Practice
• Arial Imaging Systems
• Unmanned Biologic Transport
• Medical Air Rescue
• Transport & Logistics
• Road Traffic Patrol
• Railway & Power Line Surveillance
• Others

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific.

According to reports, Of all regions globally, North America dominated the Urban Air Mobility Market with the largest share in recent years, and the same trend is likely during 2023-28.

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Some of the Market players in the Global Urban Air Mobility are:

• Aurora Flight Sciences
• Siemens
• Embraer
• Volocopter
• A3 by Airbus
• Workhorse Group
• Pipistrel
• Bell Textron
• Neva Aerospace
• Kitty Hawk.

Urban Air Mobility Recent Development:

• In April 2023, Aurora Flight Sciences unveiled the latest version of its SKIRON Expeditionary small UAS (SKIRON-X). This advanced unmanned aircraft system falls under the Group 2 category and combines the benefits of an electric vertical take-off and landing (eVTOL) setup with the extended endurance offered by a fixed-wing design:

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Key Highlights of the Report – Unlock Valuable Market Insights

• Market Size, Share & Future Projections – Understand the current market dimensions and forecasted growth trajectory.
• In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
• Company Strategies & Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
• Key Stakeholders & Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
• Import & Export Dynamics – Analyze global trade flows, regional export trends, and supply chain movements.
• Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
• Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
• Market Trends & Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

• Define objectives and research design
• Collect data through surveys and interviews
• Analyze and validate data using reliable tools
• Forecast trends and deliver actionable insights

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