The increasing innovation and technological advancement in the aviation industry, burgeoning inclination of the countries towards creating environmentally sustainable cities and rising investment in smart city for urban air mobility has promulgated the demand for urban air mobility. The major factors for the growth of the Global urban air mobility market are significant inclination to use UAM to improve the delivery of emergency services, surge in the urban population leading to rapid growth in road congestion, boost in technological developments in urban air mobility and launch of air taxi by ride-hailing companies are anticipated to fuel the growth of the market in the forecast period.
Based on Component, Infrastructure acquired the considerable market share due to rise in investment towards the deployment of eVTOL aircraft for intra-city travel. Platform is expected to grow at a high rate owing to surging need for rapid transportation of human being and increasing demand for UAMs is increasing for transportation, medical products, and passengers.
Middle East & Africa acquired the considerable share in the market in 2019 owing to escalating demand for sustainable and innovative modes of transportation and surging road congestion that placing huge strain on transportation infrastructure due to propelling urban populace. Asia-Pacific region is growing at an astronomical rate in the Urban Air Mobility Market in 2019 on account of significant rise in the number of start-up companies, escalating focus toward sustainability of environment and presence of giant market players. China acquired the highest market share in Asia-Pacific. The burgeoning crowded urban centers and rising congestion problem has propelled the spending toward the setup of a new transport ecosystem in China.
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The key players with a considerable market share in the Global Urban Air Mobility market are Aurora Flight Sciences, Siemens, Embraer, Volocopter, A3 by Airbus, Workhorse Group, Pipistrel, Bell Textron, Neva Aerospace, Kitty Hawk etc.
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