Advanced Aerial Mobility Market Primed for Growth Due to Rising...

Advanced Aerial Mobility Market Primed for Growth Due to Rising Focus on Urban Air Mobility

Posted 2024-09-09 06:57:11

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The advanced aerial mobility market revolves around developing aircraft and services that enable faster and more efficient transportation of passengers and cargo in urban, suburban and rural environments. Products in this industry include electric vertical take-off and landing (eVTOL) aircraft, delivery drones, autonomous passenger drones and regional aircraft. Advanced aerial vehicles provide contactless delivery of essential items and zero emission transportation options for individuals and logistics companies. They help address challenges of congestion and infrastructure bottlenecks in densely populated areas.

The global advanced aerial mobility market is estimated to be valued at US$ 10.24 billion in 2024 and is expected to exhibit a CAGR of 20% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the advanced aerial mobility market are A3 by Airbus, Airbus S.A.S., Archer Aviation, Aurora Flight Sciences, Bell Textron Inc., Boeing Company, EHang, Embraer S.A., Hyundai Motor Company, Joby Aviation.

The increasing investments in developing infrastructure for Advanced Aerial Mobility Market Trends networks present significant opportunities for industry players. Regulatory approvals for commercial operations of eVTOL aircraft will further accelerate market adoption.

Advancements in electric propulsion technologies, aerial ridesharing platforms, and autonomy solutions are bringing down operational costs and enabling scale up of UAM services. Wider choices of zero-emissions aircraft across multiple mission profiles are expanding the scope of advanced air mobility platforms.

Market Drivers

Growing urbanization and traffic congestion are fueling the demand for innovative transportation technologies. Advanced Aerial Mobility Market Size And Trends solutions can alleviate pressure on crammed road networks and cut travel time by operating above traffic.

Rising focus on sustainability is prompting governments and companies to embrace zero-emissions air vehicles for passengers and cargo transport. The electrification of mobility is a key driver of investments and R&D in the advanced aerial market.