Global Urban Air Mobility (UAM) Market is valued approximately at USD 2950.2 million in 2023 and is anticipated to grow with a healthy growth rate of more than 21.53% over the forecast period 2024-2032. Urban air mobility (UAM) is a new transportation concept that takes advantage of the sky to alleviate traffic congestion in cities. It utilizes small, electric, and highly automated aircraft for carrying passengers or cargo within urban and suburban areas. These flying vehicles, often referred to as eVTOLs (electric Vertical Take-Off and Landing), can take off and land vertically, eliminating the need for long runways. This makes them ideal for operating in densely populated areas. UAM is still in the development stage, but it holds promise for revolutionizing urban transportation by offering faster commutes and new possibilities for connecting cities and regions. The rapid rise in advancements in Electric Vertical Takeoff and Landing (eVTOL) Technology is a key trend that is supporting to the growth of the Global Urban Air Mobility (UAM) Market. Rapid progress in eVTOL aircraft design and development, including improvements in battery technology, propulsion systems, and aerodynamics, enabling more efficient and sustainable urban air transportation solutions.

In addition, the expansion of the Urban Air Mobility (UAM) Market is predominantly fueled by the surging consumer demand for convenient and seamless mobility options and increasing public-private partnerships for accelerating the development of UAM services. For instance, in June 2023, Eve Air Mobility (Eve) and Blade Air Mobility, Inc. has signed a long-standing partnership through a memorandum of understanding. This collaboration primarily targets to transform air transportation in Europe, starting with France, by placing the foundation to incorporate Eve's state-of-the-art eVTOL or electric vertical aircraft (EVA) into Blade's European route network. Thus, there has been a considerable transformative shift towards UAM is witnessed as a viable and integrated part of future urban transportation systems, which drives the market growth. Furthermore, increasing urbanization and congestion in cities are driving the demand for alternative transportation modes, spurring interest in UAM for efficient and time-saving urban travel. However, high upfront costs associated with developing and deploying UAM infrastructure and complex regulatory frameworks and airspace management challenges, is expected to stifle market growth during the forecast period 2024-2032.

The key regions considered for the global Urban Air Mobility (UAM) Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Europe was the dominating regional market in terms of revenue. Europe's focus on environmental sustainability and carbon neutrality goals encourages the adoption of electric and hybrid-electric UAM vehicles, noise reduction technologies, and eco-friendly operational practices, aligning with green aviation initiatives. These factors are projected to propel the growth of Urban Air Mobility (UAM) market across this region. In addition, growing demand for on-demand and multimodal transportation options, especially for short-distance urban travel, last-mile delivery, emergency medical services, and urban logistics, fuels the demand for Urban Air Mobility Market. Whereas, the market in Asia Pacific is expected to grow at the fastest rate over the forecast period.

Major market player included in this report are:
Airbus SE
Volocopter GmbH
Embraer SA
Honeywell International Inc.
Hyundai Motor Group
Jaunt Air Mobility Corporation
Karem Aircraft Inc.
Opener Inc.
Safran SA
Textron Inc.
The detailed segments and sub-segment of the market are explained below:
By Vehicle Type
Piloted
Autonomous
By Application
Passenger Transport
Freighter
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market