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

Global Urban Air Mobility (UAM) Market size was valued at USD 2.85 billion in 2022 and is poised to grow from USD 3.80 billion in 2023 to USD 38.34 billion by 2031, growing at a CAGR of 33.5% in the forecast period (2024-2031).

Ground transportation networks are being stressed to the breaking point by increasing urbanization and traffic. A faster, safer, more secure, and more interconnected transportation system could be created by taking urban air mobility into the third dimension. Due to ongoing projects and tests around the world, autonomous aircraft and flying cars are no longer the stuff of science fiction. With more than US$ 1 billion invested in the first few months of the pandemic, the UAM sector, which is still in its early stages, experienced significant growth. The two most notable investments were Guangzhou EHang Intelligent Technology Co. Ltd.'s US$ 650 million IPO value and Toyota's US$ 590 million in Joby Aviation. Additionally, the Federal Aviation Administration (FAA) collaborates with more than 15 manufacturers of eVTOL aircraft. Uber Air, Guangzhou EHang Intelligent Technology Co. Ltd, Volocopter GmbH, Joby Aviation, and Lilium GmbH all intend to launch commercial passenger operations within the following three to five years.

Globally, increasing intra city transportation demand is being driven by problems with traffic congestion, particularly in larger cities. Given that several start-ups and aerospace companies view it as a high-growth market, this is likely to increase focus on this technology development and R&D investment. These elements are therefore anticipated to fuel market growth during the projected period.

US Urban Air Mobility (UAM) Market is poised to grow at a sustainable CAGR for the next forecast year.