UAM Market Projections: From .6 Billion in 2024 to .5 Billion by 2035Posted by Sandeep Roy on September 16th, 2024 Urban Air Mobility refers to the use of electric-powered aircraft, such as eVTOLs, drones, and other advanced aerial vehicles, for short-distance urban travel. These vehicles are designed to transport passengers and cargo within city environments, offering a faster, more efficient alternative to traditional road travel. The urban air mobility market is estimated to be USD 4.6 billion in 2024 and is projected to reach USD 23.5 billion by 2030, at a CAGR of 31.2% between 2024 and 2030, and USD 41.5 billion by 2035, at a CAGR of 12.1% from 2030 to 2035. The Platform Volumes are expected to grow from 61,479 units in 2024 to 519,370 in 2030 to 875,438 units in 2035. North America is estimated to account for the largest Urban Air Mobility market share in 2024. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251142860 Top UAM Companies – Key Market Players Lilium Aviation Gmbh (Germany), Archer Aviation Inc. (US), Eve Holdings, Inc. (Brazil), Airbus (France), and Ehang (China) are key players offering solutions applicable to and are keen on addressing key factors to reduce the urban congestion across North America, Europe, Asia Pacific, the Middle East, and the Rest of the World. The rapid urbanization, increased road traffic within major cities, and growing urban population create a very high demand for alternative transportation modes. Urban Air Mobility presents an important solution based on reducing congestion by taking faster and more direct routes through the air. This makes UAM of great interest to city planners and developers who are working towards improving urban infrastructure and trying to accommodate increasing demands on transportation. Based on the solution, the platform segment is expected to hold a larger market share during the forecast period. Supported by large revenues generated through sale, leasing, and service agreements with platform solutions such as eVTOL aircraft and associated software, a larger market share for the platform segment is expected. Indeed, the platforms are the key component in integrating UAM solutions into the existing transportation networks and urban infrastructure, gaining much importance with cities and companies investing in UAM. This sector also sees very fast changes in technology and fierce competition among the manufacturers that will drive continuous innovation and strong market presence. Companies are investing heavily in the development of platforms that keep them competitive and meet changing demands as the UAM industry evolves. Based on the mode of operation, the autonomous segment is expected to grow the most during the forecast period. The fastest growth during the forecast period compared with piloted ones is expected to be in autonomous systems, and for many reasons. The advances in AI and machine learning greatly contribute to advancing the capability and safety of autonomous systems, making them increasingly feasible and efficient for flight. These systems also offer large cost advantages because their implementation does away with the necessity for onboard pilots, which results in labor savings and operational simplification. Their abilities to operate with minimum human intervention and manage several aircraft at the same time mean that more of the systems are essential for scalability; this is important in order to accommodate the expected high demand in urban air mobility. Based on region, North America is estimated to have the highest CAGR from 2024 to 2035 In North America, heavy venture capital and private investment in UAM technologies and infrastructure accelerate the pace of development and deployment of these solutions. The strategic focus has been on building necessary infrastructure, like vertiports and charging stations, in primary US cities and metropolitan areas to underpin the scaling-up of UAM services. Besides, heavy traffic congestion in such cities has only revived the necessity for faster modes of transport. UAM comes to provide quicker and more direct air routes, hence making it really attractive and an option which could improve urban mobility. Ask for Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=251142860 North America holds the highest growth rate in the region for the Urban Air Mobility market. Among the UAM markets, North America stands apart with its vast venture capital and private investments in technology and infrastructure. Because of this, the development and deployment of UAM solutions are going very rapidly. The development of necessary infrastructures like vertiports and charging stations is going fast, especially in major US cities and metropolitan areas, forming a strong backbone to support and scale up UAM services in this region. This dire need for options for more efficient transportation is greatly brought about by the high levels of congestion in these urban centers. UAM tends to meet this demand through aerial routes that are faster and more direct than any ground route will ever be, and which could eventually help alleviate road congestion-which makes the prospect quite promising for urban mobility. All these factors combined, along with a strong investment environment and continuous infrastructural development, make North America one of the front runners in the UAM market, with a high growth rate and considerable market share. About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of trillion of new revenue streams that are substituting existing revenue streams in this decade alone. 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