Urban Air Mobility Market Predicted to Reach $28.3 billion by 2030 at a CAGR of 34.3%

(IT-NEWSWIRE.COM, November 04, 2022 ) The report "Urban Air Mobility Market by Component (Infrastructure Solutions, Platform), Platform Operation (Piloted, Autonomous), Range (Intercity, Intracity), Platform Architecture, Systems, End User and Region - Global Forecast to 2030" The urban air mobility market is projected to grow from USD 2.6 billion in 2022 to USD 28.3 billion by 2030, at a CAGR of 34.3% from 2025 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 solutions segment is expected to lead the market during the forecast period.

Based on component, the urban air mobility market has been segmented into infrastructure solutions and platform. The infrastructure solutions segment of the urban air mobility market is projected to at the highest CAGR during the forecast period. Infrastructure solutions are further segmented into vertiports, charging stations, air traffic management facilities, and maintenance facilities. The growth of this segment is attributed to the increase in urban air mobility operations. The vertiports segment is expected to account to lead the market in 2025-2030 owing to a large amount of infrastructure development globally.

By platform architecture, the fixed wing segment is expected to lead the market during the forecast period.

Based on platform architecture, the Urban air mobility market has been segmented into rotary wing, fixed wing and fixed wing hybrid. The fixed wing segment is projected to grow at a highest CAGR in the forecasted period. This growth can be attributed to the developments taking place in UAM market with respect to partnership, investments, and development of new products.

The Avionics segment is projected to grow at the highest rate in the forecasted period.

By system, the avionics segment is projected to grow at the highest rate in the forecasted period. Avionics in a UAM platform consists of flight control systems, navigation systems, communication systems, and sensors. The main purpose of avionics is to control the operations of aircraft and ensure its safety. Advanced avionics are developed to improve the safety as well as the utility of the platform.

Europe: The largest growing region in Urban air mobility in the forecasted 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.

Key Market Players

Some of the key players profiled in the urban air mobility market report include Airbus (US), Archer Aviation (US), EHang (China), Hyundai motor group tech (South Korea) and Wingcopter (Germany) among others.

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Urban Air Mobility Market Predicted to Reach $28.3 billion by 2030 at a CAGR of 34.3%