Urban Air Mobility Market to Witness Significant Growth 2023-2035

Posted by BIS RSRCH on April 6th, 2021

The global urban air mobility market is expected to witness a significant growth over the forecast period 2023-2035, due to the rising demand for UAVs in civil and commercial applications and increasing need for efficient transportation. Urban air mobility provides safe and efficient transportation using piloted and autonomous aircrafts for intracity and intercity commutation. Huge investments from aircraft manufacturers, infrastructure providers, and airspace integration researchers have been made for urban air mobility operations, alongside other operations in the airspace.

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The urban air mobility is expected to be used for several operations, such as humanitarian missions, weather monitoring, ground traffic assessment, emergency medical evacuations, news gathering, package delivery, rescue operations, and passenger transport. The growing human intervention for intercity and intracity transportation using eVTOL and growing smart city investments for urban air mobility are expected to create significant opportunity in the global urban air mobility market.

Urban-centered air transportation is not a new concept. In the 1970s, Boston and some other cities had services based on-demand helicopter taxi. However, the accidents, air pollution, noise, and cost ultimately grounded the taxi services. Nevertheless, in the 21st century, the timing is right to revisit this mode of transportation as aviation technologies. Moreover, the concepts have reached a level of maturity, which has led to change the shape of aviation to enable Urban Air Mobility (UAM), using quiet and efficient piloted and unmanned vehicles to conduct the on-demand and scheduled operations.

Urban Air mobility (UAM) is an attractive business prop¬osition, which is not too far off in the future. As the road travel in large megacities becomes increasingly congested, the population commuting daily are looking for a better way to safely travel to work and other destinations. Urban air mobility can serve as the advanced way to commute on a daily basis. Urban air mobility, being a part of the future urban landscape is a term used to describe the systems that enables on-demand, safe, highly automated, and passenger and cargo carrying air transportation services in a metropolitan environment for manned aircraft and unmanned aircraft systems.

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Since 2015, major players have been investing in urban air mobility and taking initiatives in developing air taxis as well as the infrastructure necessary for these vehicles to safely transport passengers and cargo. NASA, Boeing’s Aurora Flight Sciences, Airbus, Uber, Bell Helicopter, and Volocopter are among the investors making progress in the UAM space.

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