Urban Air Mobility Market
Research Insights:
Urban air mobility refers to on-demand passenger air transportation services. Urban air transportation systems have been developed in response to the exponentially growing road traffic congestion. These systems that leverage the airspace above cities and metropolitan regions are safe, convenient, efficient, and highly sustainable. The significantly growing population has boosted the demand for innovative air mobility solutions as the ground transportation infrastructure becomes extremely congested. The rapid development of urban air mobility solutions is majorly supported by recent technological advancements. As an alternate mode of transportation, the concept of urban air mobility (UAM) is gaining significant traction worldwide, owing to a plethora of advantages offered by these transportation systems.
The various types of urban air vehicles include on-demand passenger air vehicles, high-powered electric vertical take-off and landing (eVTOL) aircraft intended for intra-city passenger transportation, personal air vehicles (PAVs), and several other types of aircraft, such as multicopters and tilt-wing convertiplane aircraft. With the emergence of advanced aviation technologies over recent years, urban air transit has become highly accessible and affordable in most metropolitan areas. Besides providing passenger air transit solutions, urban air mobility solutions find application in emergency services, traffic monitoring, transportation of blood and organs, and public safety services.
The global urban air mobility market, which is presently at a nascent stage, is expected to gain significant momentum in the upcoming years. Increasing road traffic congestion, rising demand for cutting-edge UAM solutions, increasing focus on environmental sustainability, rising concerns about the safety of humans, and the increasing civil and commercial applications of these solutions due to their superior endurance, enhanced payload capabilities, and low operating costs are poised to contribute to the growth of this market. Moreover, the considerably growing population, rapid urbanization, and surging business initiatives such as partnerships, acquisitions, agreements, and new product launches by the market players are the other indispensable factors foreseen to bolster the global urban air mobility market development.
In terms of geography, the global urban air mobility market has a significant presence across some of the world’s major regions, including Europe, North America, and Asia Pacific. However, the market is highly concentrated in the European region, owing to the high adoption of advanced eVTOL aircraft for commercial operations, rapid globalization, increasing trend of automotive automation, and growing R&D investments in the region. Germany and France are the leading market growth engines in this region. The WiNDroVe project – which was aimed at using drones in a metropolitan area – was implemented in Hamburg (Germany) from May 2017 until January 2018. Moreover, France is one of the leading participants in the European Urban Air Mobility Initiative, a project coordinated by the EASA (European Aviation Safety Agency), the European institutional partner Eurocontrol, and the top European aircraft manufacturer, Airbus.
Airbus, Volocopter, Aurora Flight Sciences, Kitty Hawk, Boeing, Bell Helicopter Textron Inc., EHang, Neva Aerospace, Lilium, Workhorse Group, and Delorean Aerospace LLC are some of the key competitors in this market. Recently, Japan Airlines and Volocopter have inked an agreement to develop next-generation urban air mobility solutions for commercial air transportation. In February 2020, Japan Airlines’s corporate venture capital fund, called Japan Airlines Innovation Fund, had invested in Volocopter – as part of the company’s Series C financing round – to develop electrically powered air taxis and a heavy-lift cargo drone technology.
To read more about the Press Release, visit: @ https://www.reportsanddata.com/press-release/global-urban-air-mobility-market
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