17.5% Global CAGR for Urban Air Mobility Market Market to achieve US$ 23,250.30 Mn by 2027

AIRBUS SAS, AURORA FLIGHT SCIENCES, AIRSPACE EXPERIENCE TECHNOLOGIES, INC., BELL TEXTRON INC, EHANG INTELLIGENT TECHNOLOGY CO. LTD – PROMINENT MARKET PARTICIPANTS IN URBAN AIR MOBILITY (UAM) MARKET

Advances in aviation technologies are creating the potential to provide convenient and efficient on-demand transportation for people and cargo in metropolitan areas. Urban Air Mobility (UAM) is a transportation concept that has the potential to reconstruct societal mobility. It proposes highly affordable, accessible, and fast urban air transit, which would reduce ground-based congestion by off-loading the existing roadways transportation infrastructure.

UAM relies on the gain in technologies such as distributed electric propulsion, new business models such as application-based ride-sharing, and trends in advanced aerospace manufacturing that will reduce production costs. Increasing the credit of vehicle automation and autonomous vehicle operations will be critical in achieving the autonomous UAM vision. Autonomy will be needed for an economically viable transportation system capable of supporting the high anticipated demand. Significant increases in the technological maturity of stable, maneuverable, vertical takeoff and landing (VTOL) vehicle, and highly automated flight are primarily going to propel the UAM industry. To overcome the sanities, as mentioned earlier, it is foreseen that UAM will provide the ultimate solution to these urban traffic safety problems. Subsequently, a battery-powered UAM vehicle will supersede the existing internal combustion engine (ICE) cars, which will undoubtedly reduce carbon emission and enhance the quality of air in urban areas. AS per the U.S. EPA, a sedan passenger car with a 1.6L engine would devour 1,000 liters of gasoline per year, ending in the emission of 2.7 metric tons of carbon dioxide. Battery-powered UAMs are expected to reduce the emission of carbon dioxide considerably in the future.

The top five market leaders in this market include Airbus SAS, Aurora Flight Sciences, Airspace Experience Technologies, Inc., Bell Textron Inc, EHang Intelligent Technology Co. Ltd. The above listing of top players is based on multiple factors such as overall sales, current UAM service portfolio, investment in technology up-gradation, and industry activities. Companies have taken several market initiatives to expand their footprint, service portfolio across the world and to fulfill the growing demand of the market. In 2019, Porsche and Boeing signed a MOU for premium urban air mobility market and the extension of urban traffic into airspace. As a partnership the companies will leverage their expertise to study the future of premium personal urban air mobility vehicles. In 2018, Airbus and Audi announced a partnership to develop urban mobility solutions. Airbus through its on-demand helicopter service Voom-will partner with Audi to deliver an end-to-end transportation service.

The players present in the urban air mobility (UAM) market mainly concentrate on the contracts, partnerships, and collaboration, and product developments. Activities for the deployment of new technological solutions across the world is permitting these companies to maintain their brand name globally. Few of the important market initiatives from the industry are mentioned below: