Urban Air Mobility Market worth $28.3 billion by 2030 - Exclusive Report by MarketsandMarkets™

CHICAGO, May 13, 2022 /PRNewswire/ -- According to a research report "Urban Air Mobility Market by Component (Infrastructure, Platform), Platform Operation (Piloted, Autonomous), Range (Intercity, Intracity), Platform Architecture, Unmanned Platform Systems, End User and Region - Global Forecast to 2030", published by MarketsandMarkets™, the market is projected to grow from USD 2.6 billion in 2022 to USD 28.3 billion by 2030, at a CAGR of 34.3% from 2022 to 2030. The increasing demand for an alternative mode of transportation in urban mobility for commercial applications and technological innovations in unmanned technology are the major factors driving the market.

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By component, the Platform segment is expected to lead the market during the forecast period

Based on component, the urban air mobility (UAM) market is segmented into infrastructure solutions and platform. The platform segment of the urban air mobility market is projected to grow at the highest CAGR from 2025 to 2030. This growth is attributed need for green energy and alternate mode of transportation. The Air taxis segment is expected to grow at a higher rate in the forecasted period.

"By platform operations, the piloted segment has the highest share in the forecasted period"

Based on platform operations, the Urban air mobility market has been segmented into autonomous and piloted. The piloted segment is projected to grow at a highest share. This growth can be attributed to the developments taking place in UAM market with respect to partnership, investments, and development of new products.

"The ride sharing companies' segment is projected to grow at the highest rate in the forecasted period"

By end user, the ride sharing companies' segment is projected to grow at the highest rate in the forecasted period. The ride sharing market is dominated by global players and comprises several regional players. Some of the key players in the ride sharing market are Uber (US), Joby Aviation (US) and Airbus (France).

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"Europe: The second largest growing region in Urban air mobility"

The Europe urban air mobility market is projected to grow at the second highest rate of 19.1% during the forecast period. Government bodies, such as the European Union Aviation Safety Agency (EASA), the European Defence Agency (EDA), the UK Civil Aviation Authority (CAA), and the European Air Transport Command, play a crucial role in ensuring transportation safety and addressing issues related to air transport. The increasing size of existing military fleets, aircraft modernization programs, consolidation of airlines, and growth in air traffic are among the key factors driving the growth of the urban air mobility market in this region.

Some of the key players profiled in the urban air mobility market report include Airbus (US), Archer Aviation (US), EHang (China), Hyundai motor group tech (South Korea) and Wingcopter (Germany) among others. The players are largely focused on new product development and launches, and having a strong global presence will help them gain a competitive advantage in the urban air mobility industry. These companies are concentrating their efforts on breaking into new markets by launching technologically superior and cost-effective platforms and infrastructure solutions. These companies, in addition to new product releases and advances, have adopted partnership, contracts and agreement strategy.

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