Urban Air Mobility Market
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The urban air mobility market is protected to grow from USD 5,3 billion in 2018 to USD 15,2 billion by 2030.
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The growing use of UAVs in various civil & commercial applications due to their superior endurance, low operating costs, and enhanced payload capabilities has resulted in their increased production, which is the major factor driving the growth of the urban air mobility market.
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Agreements, partnerships & contracts, new product launches, and acquisitions were key strategies adopted by the leading market players.
Platform segment projected to grow at a higher CAGR than the infrastructure segment during the forecast period
Based on component, the urban air mobility market has been segmented into infrastructure and platform. The platform segment is projected to grow at a higher CAGR during the forecast period owing to increasing investments from various eVTOL manufacturers for commercial applications, such as air taxi, personal air travel, cargo transportation, and air ambulance.
Autonomous segment estimated to lead the market during the forecast period
Based on operation, the urban air mobility market has been segmented into piloted and autonomous. The autonomous segment is estimated to lead the market during the forecast period, as autonomous eVTOLs are better suited for passenger and cargo transportation and are expected to be increasingly used for intercity transportation. These autonomous eVTOLs can operate in urban areas as they are equipped with high-quality sensors and proven technology for human-free operations. Presently, the market for fully-autonomous aerial vehicles is smaller than that of the piloted aerial vehicles. However, the autonomous segment is projected to grow at a higher rate during the forecast period.
According to MarketsandMarkets, Europe to be the fastest-growing market for urban air mobility 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 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 coountries are fueling the growth of the European UAM market.