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Urban Air Mobility (UAM) Market to see Huge Demand by 2032

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Steve Carell
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In 2023, the global urban air mobility (UAM) market was worth $3.60 billion. It's expected to grow from $4.21 billion in 2024 to $14.64 billion by 2032, with an annual growth rate of 16.9%. In 2023, North America led the market, holding a 40.83% share. Urban Air Mobility (UAM) represents a transformative approach to urban transportation, aiming to integrate advanced air mobility solutions like electric vertical takeoff and landing (eVTOL) aircraft into cityscapes. As of 2024, the UAM industry is on the brink of commercialization, driven by technological advancements, regulatory support, and significant investments.

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Key Companies Covered in Urban Air Mobility (UAM) Market are:

  • Textron Inc. (U.S.)

  • Uber Technologies Inc. (U.S.)

  • Airbus SE (Netherlands)

  • Ehang (China)

  • Safran SA (France)

  • Volocopter (Germany)

  • Lilium Aviation GmbH (Germany)

  • Carter Aviation (U.S.)

  • AIRSPACEX (U.S.)

  • Aurora Flight Sciences (U.S.)

Key Players and Initiatives

Several companies and collaborations are spearheading the development and integration of UAM:

  1. Archer Aviation: Archer is set to launch its first UAM network in Los Angeles by 2024. The company is focused on creating eVTOL aircraft capable of traveling up to 60 miles at 150 mph. Their partnership with the City of Los Angeles aims to address urban mobility challenges by offering a fast, safe, and sustainable travel option​​.

  2. Volocopter: This German company has made significant strides with its VoloCity air taxi. It has conducted successful test flights in various cities and is working closely with local authorities to establish the necessary infrastructure for UAM operations​​.

  3. Joby Aviation: Backed by major investments, Joby is developing an eVTOL aircraft expected to commence commercial operations by 2025. The company has also partnered with major airlines to integrate UAM into existing transportation networks​​.

  4. Eve Air Mobility and Siemens: This partnership focuses on developing electrical infrastructure solutions to support AAM. Their goal is to provide the confidence and infrastructure needed for fleet operators to launch and scale AAM operations efficiently​​.

Regulatory and Infrastructure Developments

The integration of UAM into urban environments requires robust regulatory frameworks and infrastructure:

  1. FAA and NASA Collaboration: The FAA's NextGen initiative and NASA’s Advanced Air Mobility (AAM) research are pivotal in developing and validating UAM concepts and technologies. These efforts include modernizing air traffic infrastructure to safely incorporate AAM into the National Airspace System (NAS)​.

  2. Vertiports and Urban Integration: Cities are planning for vertiports—dedicated hubs for UAM operations. For instance, Los Angeles is working with Urban Movement Labs to design and implement vertiports that will facilitate seamless UAM integration into the city’s transportation network​​​​.

  3. Global Efforts: The European Union, through EASA, is also heavily involved in creating regulations and infrastructure for UAM. Initiatives like the AiRMOUR project are developing guidebooks for integrating UAM into cities, ensuring that the technology is adopted safely and efficiently across different regions​.

Future Prospects

The future of UAM looks promising, with potential applications extending beyond passenger transport to include cargo delivery, emergency services, and even firefighting. The industry is expected to create new jobs, stimulate investments in infrastructure and electrification, and contribute significantly to decarbonization efforts.

Overall, the UAM industry is on the cusp of a significant transformation that promises to revolutionize urban transportation, making it more efficient, sustainable, and accessible.

Urban Air Mobility (UAM) Market