Advanced Air Mobility Market Size, Share, Growth Analysis, By Mode of Operation (Piloted, Autonomous), By End Use (Cargo, Passenger), By Propulsion Type (Parallel Hybrid, Electric), By Region -Industry Forecast 2024-2031

The AAM market in North America, and especially the US, is the largest in the world, which can be attributed to the development of key aerospace infrastructures, active investments in technological innovations, as well as the existing policies and regulations that favor the induction of new aviation technologies. The US contains several AAM related companies and state of the art research centers that augment the use of electric vertical take-off and landing aircraft, artificial intelligence navigation systems and autonomous systems. Additionally, proactive involvement from the Federal Aviation Administration (FAA) in developing regulations for urban air mobility and the presence of key players such as Boeing and Joby Aviation further solidify the region’s leadership in accelerating AAM commercialization and adoption.

Europe is the fastest-growing region in the global advanced air mobility market due to its strong focus on sustainability, stringent emissions regulations, and increasing urban mobility needs. The European Union’s push for greener transportation through initiatives like the European Green Deal has spurred investments in electric vertical takeoff and landing (eVTOL) aircraft and autonomous air mobility solutions. Furthermore, it can be noted that the AAM evolution is led by countries such as Germany and the U.K. owing to the strong partnerships amongst the state, aerospace industry and technology start-ups. The development of the AAM field in the region is facilitated by the increasing regulatory environment and carbon neutrality obligations in Europe.