CHICAGO, Feb. 22, 2021
CHICAGO, Feb. 22, 2021 /PRNewswire/ -- According to the new market research report "Urban Air Mobility Market by Component (Infrastructure, Platform), Platform Operation (Piloted, Autonomous), Range (Intercity, Intracity), Platform Architecture, Unmanned Platform Systems, End User and Region - Global Forecast to 2030", published by MarketsandMarkets™, the market is projected to grow from USD 2.6 billion in 2020 to USD 9.1 billion by 2030, at a CAGR of 13.5% from 2020 to 2030. The increasing demand for an alternative mode of transportation in urban mobility for commercial applications and technological innovations in unmanned technology are the major factors driving the market.
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By component, the infrastructure segment is expected to lead the market during the forecast period
Based on component, the urban air mobility market has been segmented into infrastructure and platform. The infrastructure segment of the urban air mobility market is projected to at the highest CAGR from 2025 to 2030. This growth is attributed to the increasing deployment of eVTOL aircraft for intracity travel leading to an increase in the need for infrastructure. Infrastructure has been further segmented into vertiports, charging stations, air traffic management facilities, and maintenance facilities. The vertiports segment is expected to account for the largest market share in 2025 owing to expected large amount of infrastructure development globally.
"By platform operations, the autonomous segment is expected to grow fastest from 2025 to 2030"
Based on platform operations, the market has been segmented into autonomous and piloted. The autonomous segment is projected to grow at a higher CAGR from 2025 to 2030. This growth can be attributed to the significant investments being made to develop cost-effective solutions for passenger and cargo transportation for intracity and intercity transportation.
By Range, the intracity segment is projected to witness a higher growth rate during the forecast period
Based on range, the market has been segmented into intercity and intracity transportation. The intracity segment is projected to witness a higher growth rate during the forecast period. Factors such as the increasing traffic congestion in urban areas due to the growing population and migration from rural areas are expected to drive the growth of intracity urban air mobility.
By unmanned platform by systems avionics segment is estimated to lead from 2025 to 2030
Based on unmanned platform by systems the market has been segmented aerostructures, avionics, electrical systems, propulsion systems, cabin interiors, and software. The avionics segment is estimated to lead from 2025 to 2030 owing to increasing developments in platform avionics systems from remotely piloted aircraft to fully autonomous aircraft. For full autonomy, a suite of sophisticated avionics systems act as an integral part of the platform.
Browse in-depth TOC on "Urban Air Mobility Market"
235 – Tables
41 – Figures
246 – Pages
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"Europe is projected to lead the market during the forecast period"
The Europe urban air mobility market is projected to grow at the highest rate during the forecast period. Countries in this region, such as Germany, UK, and France, are investing heavily in the development and procurement of advanced eVTOL systems for commercial operations. Advancements in the manufacturing capability of emerging economies in this region will drive the market. Additionally, the ever-increasing trend of automation and globalization in these countries are fueling the growth of the European urban air mobility market.
Some of the key players profiled in the urban air mobility market report include Wisk Aero (US), Lilium (Germany), EHang (China), Jaunt Air Mobility (US) and Volocopter (Germany) among others. The players are mostly engaged in new product launches & developments and having a strong global presence will enhance their position in the urban air mobility market. These players are primarily focusing on entering new markets by launching technologically advanced and cost-effective platforms and infrastructure. Apart from new product launches & developments, these players also adopted the partnerships contracts, & agreements strategy.
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