Urban Air Mobility Market

Key players adopted strategies to strengthen and sustain their position in Urban Air Mobility (UAM) Market

Urban Air Mobility (UAM) can be defined as an aerial mode of transportation for passengers and cargo using manned (fixed wing or rotary wing) or electric unmanned aerial vehicles. The transportation of passengers and cargo can be for intracity (20 to 100 kilometers) or intercity (100 to 400 kilometers). The ecosystem needed for UAM includes systems that support a mix of onboard/ground-piloted and increasingly autonomous operations. The urban air mobility market is estimated to be USD 5.3 billion in 2018 and is projected to reach USD 15.2 billion by 2030, at a CAGR of 11.33% from 2018 to 2030.

New product launches and agreements were among the key strategies adopted by the leading market players to strengthen and sustain their position in the market. In January 2019, Bell Helicopter, a Textron Inc. company, revealed its full-scale electric Vertical Take-off and Landing (eVTOL) air taxi vehicle during the CES 2019. The air taxi, named Bell Nexus, is powered by a hybrid-electric propulsion system and features Bell’s signature powered lift concept incorporating six tilting ducted fans that are designed to safely and efficiently redefine air travel.

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Key players in the urban air mobility market include Kitty Hawk (US), Lilium (Germany), EHang (China), Volocopter (Germany), and A3 by Airbus (US). These players have been focusing on securing government contracts for their organic growth. Their core competencies include high investments in R&D activities.

Lilium is a major player in the urban air mobility market. The company has been focusing on enhancing the technical competence of its products, apart from securing contracts. In September 2017, it developed a five-seat flying taxi, worth USD 90 million, capable of a vertical take-off and jet-powered flight. The company aims to make intercity travel cheaper than conventional air travel. It claims to provide air taxi ride using the Lilium jet from Midtown Manhattan to JFK airport, with fare as low as 6 USD.

Another major player operating in this market is Volocopter. In September 2017, the company successfully carried out the test flight its autonomous air passenger vehicle wherein it also demonstrated the capabilities of its eVTOL. The company plans to commercialize air taxi services by 2022 for urban air transportation in the city of Dubai.

Related Reports:

Urban Air Mobility (UAM) Market by Component (Infrastructure (Charging Stations, Vertiports, Traffic Management), Platform (Air Taxi, Personal Air Vehicle, Cargo Air Vehicle, Air Ambulance)), Operation, Range, and Region - Global Forecast to 2030

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Report Code
AS 6957
RI Published ON
3/5/2019
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