Global Urban Air Mobility (UAM) Market

Urban Air Mobility (UAM) Market Size, Share, Growth Analysis, By Vehicle Type(Air Metros, Air Taxis, Air Ambulance, Last-Mile Delivery), By Range(Intercity, Intracity), By End-User(Ride-Sharing companies, Scheduled Operators, E-commerce companies, Hospitals & Medical Agencies), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25A2034 | Region: Global | Published Date: July, 2036
Pages: 248 | Tables: 93 | Figures: 76

Urban Air Mobility (UAM) Market Dynamics

Urban Air Mobility (UAM) Market Driver

  • In order to support mass mobility in cities with growing populations, transportation infrastructure needs to be managed properly. Cities all over the world are therefore looking into alternative forms of transportation to lessen traffic congestion. The goal of using autonomous drones for urban air mobility is to reduce traffic congestion and pollution while also reducing the amount of current transportation infrastructure that must be used. An important factor fueling this market's expansion is the rise in congestion in densely populated cities. Urban areas' growing road traffic causes long traffic jams, which add unnecessary travel time.

Urban Air Mobility (UAM) Market Restraint 

  • Like other disruptive technologies, UAM has not yet reached the point where innovation is unhindered and local, state, and federal governments are adequately protecting the public. UAM operations present new and factual issues that may discourage the use of such technology as a result of legal restrictions, safety concerns, and privacy concerns. The UAS Integration Pilot Program, FAA Rulemaking Committees, the UAM Grand Challenge, and other collaborative initiatives, however, come after these legal restrictions and enable the alignment of technology and policy, allowing for more complex operations.
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Urban Air Mobility (UAM) Market size was valued at USD 21.07 billion in 2019 and is poised to grow from USD 28.3 billion in 2023 to USD 28.3 billion by 2031, growing at a CAGR of 34.3% in the forecast period (2024-2031).

In coming years, a number of companies will try to deploy their UAM systems through partnerships and collaborations as the market is still in its early stages. However, there is still a great deal of preparation needed for the required infrastructure and air traffic control. The participants have joined forces with a number of other businesses or institutions that can offer the necessary technologies. 'Airbus S.A.S.', 'The Boeing Company', 'Volocopter GmbH', 'Joby Aviation, LLC', 'EHang Holdings Limited', 'Bell Textron Inc.', 'Embraer S.A.', 'Lilium GmbH', 'Hyundai Motor Group', 'SkyDrive Inc.', 'Terrafugia Inc.', 'Kitty Hawk Corporation', 'AeroMobil Limited', 'Pipistrel d.o.o.', 'Safran S.A.', 'Eve Urban Air Mobility Solutions, Inc.', 'Honeywell Aerospace', 'Uber Technologies Inc.', 'Zipline International, Inc.', 'Textron Inc.'

In order to support mass mobility in cities with growing populations, transportation infrastructure needs to be managed properly. Cities all over the world are therefore looking into alternative forms of transportation to lessen traffic congestion. The goal of using autonomous drones for urban air mobility is to reduce traffic congestion and pollution while also reducing the amount of current transportation infrastructure that must be used. An important factor fueling this market's expansion is the rise in congestion in densely populated cities. Urban areas' growing road traffic causes long traffic jams, which add unnecessary travel time.

Commuters spent significantly more time on the road due to increased traffic, especially during peak hours. Most countries' current road systems are unable to handle peak-hour traffic without creating queues. It challenges governments as well as wasting the time of citizens. Additionally, the number of on-road passenger vehicles, which burn fossil fuels, is rising and is negatively impacting the environment. Governments and technology companies have started to take urban automated vehicles (UAMs) into consideration as a potential passenger and cargo transportation option due to the significant concerns about traffic congestion and urban road mobility. This could save a lot of time because it is a reliable and secure air transportation system where passenger-carrying air taxis operate above populated areas.

With a market size of 1.19 billion, North America held the largest portion. Compared to other regions, the region is the market leader in this one. The Boeing Company's presence has also helped to foster a positive environment for the industry because the company is heavily investing in the development of prototypes for testing. In North America, the U.S. is setting the standard for adoption of this cutting-edge mode of transportation. Working together to develop and implement these technologies locally is a large number of American start-ups. Over the following five to six years, a schedule will be established for bringing the UAM into commercial use.

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Global Urban Air Mobility (UAM) Market

Product ID: SQMIG25A2034

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