Wisk Aero (US) and EHang (China) 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, rotary wing, or fixed-wing hybrid). The UAM ecosystem includes systems which supports a mix of onboard/ground-piloted and increasingly autonomous operations. The estimated urban air mobility (UAM) market is USD 2.6 billion in 2022 and is projected to reach USD 28.3 billion by 2030, at a CAGR of 34.3% from 2025 to 2030.
As a result of their strong global presence in urban air mobility (UAM) market, players are focusing on developing and launching new products that will strengthen their position in the UAM market. These players are primarily focusing on entering new markets by launching technologically advanced and cost-effective platforms and infrastructure. Volocopter and aviation Capital Group LLC (ACG) signed an agreement in February 2022 to develop financing solutions to support the sale of volocopters family of electric vertical take-off and landing (eVTOL) aircraft for up to USD 1 billion. Once the aircraft has been licenced for commercial use by the respective civil aviation authorities which includes European Union Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA), deliveries are expected to begin.
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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 February 2022, Wisk Aero has partnered with the City of Long Beach, California, through its Long Beach Economic Partnership (LBEP) to make Advanced Air Mobility (AAM) a reality in Southern California.
Airbus is a leader in designing, manufacturing, and delivering aerospace products, services, and solutions to customers worldwide. It is the largest aeronautics and space company in Europe and is at the forefront of the global aviation industry. In March 2022, Airbus and The Helicopter Company expanded their partnership to include sustainable aviation fuel and urban air mobility (UAM) in Saudi Arabia. The agreement foresees the decarbonization of flight operations for Airbus’ products in THC’s fleet. This includes the use of sustainable aviation fuels for conventional helicopters, as well as the introduction of urban air mobility (UAM) services in the country.
EHang is the leading autonomous aerial vehicle (AAV) technology platform company. The company makes safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with AAV products and commercial solutions, such as air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. In January 2022, EHang received a pre-order of 50 units of EH216 from a leading Japanese air mobility digital platform company AirX.
Lilium is an aviation company that develops an emission-free regional air mobility service. It has designed and prototyped the Lilium Jet, a brand-new type of aircraft that will enable it to deliver regional journeys considerably faster than rail or road. The five-seater demonstrator aircraft, a fully electric aircraft that can take off and land vertically (eVTOL), took its first flight in 2019. In October 2021, Stuttgart airport and Lilium signed an agreement under which Stuttgart airport will become a hub for regional electric flights with zero operating emissions in the Southern German regional network.
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
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