Urban Air Mobility Market

Wisk Aero (US) and Lilium (Germany) are Leading Players in the Urban Air Mobility 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 2.6 billion in 2020 and is projected to reach USD 9.1 billion by 2030, at a CAGR of 13.5% from 2020 to 2030.

The players mostly engaged in new product launches & developments and having a strong global presence will enhance their position in the urban air mobility market. These players are primarily focusing on entering new markets by launching technologically advanced and cost-effective platforms and infrastructure.  In January 2020, Bell revealed an evolved design for its Nexus air taxi, with a new “4EX” version, using fewer ducted fans and a longer wing than its predecessor, as well as fully electrically powered.

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

Wisk Aero is one of the major players in the market. The company is joint venture between The Boeing Company and Kitty Hawk Corporation. Cora is their platform which has completed more than 1,000 test flights. In November 2020, Wisk partnered with NASA to focus on the safe integration of autonomous aircraft systems into urban air mobility applications at a national level. Through the partnership, NASA and Wisk intend to optimize opportunities to evaluate architectures, perform simulation studies, and develop validation for overall frameworks that can be leveraged for autonomous flight assessments.

Lilium is another 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 2020, Lilium partnered with Tavistock development and the City of Orlando to establish the first region in the US to develop vertiport. The first US Vertiport to be located at Orlando’s Aerotropolis in Lake Nona. Also, Lilium partnered with Dusseldorf and Cologne/Bonn airports to explore how the two airports can become hubs within a regional air mobility network spanning North Rhine- Westphalia.

Jaunt Air Mobility, is a start-up founded in April 2019. The Company builds aircraft to meet the growing demand for shorter travel time over urban and regional areas.  In October 2020, Jaunt Air Mobility announced memorandums of understanding with PS&S Integrated Services, an architectural and engineering firm with experience in vertiport design and PRICE Systems, which specializes in predictive cost modeling and has the capability to calculate passenger demand for air taxi services.

Another major player operating in this market is Volocopter. In September 2020, Volocopter and Japan Airlines (JAL) announced an agreement to promote the development of the urban air mobility industry through air transportation of passengers and goods. Volocopter and JAL will work on the sustainable commercial operation of air taxis in Japan.

Related Reports:

Urban Air Mobility Market by Component (Infrastructure, Platform), Platform Operation (Piloted, Autonomous), Range (Intercity, Intracity), Platform Architecture, Unmanned Platform Systems, End User and Region - Global Forecast to 2030

Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441
[email protected]

Report Code
AS 6957
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