Global Advanced Air Mobility Market

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

Report ID: SQMIG20A2271 | Region: Global | Published Date: November, 2024
Pages: 194 | Tables: 87 | Figures: 71

Advanced Air Mobility Market News

  • In September 2024, Joby Aviation recently achieved a notable achievement in aviation history as it performed its first crewed test flight of the Joby eVTOL aircraft within a designed city’ setting. This achievement indicates the company’s advancement towards realizing its goal of commercial passenger operations, which entails providing air taxi services in urban regions by 2025.
  • In August 2024, Archer Aviation officially introduced its most recent eVTOL model, Dope, demonstrating impressive technology in the aspect of flight and sustainability. The company highlighted the fact that they are carbon neutral and expects the Maker to be in service for urban air mobility activities by 2026, which will be a huge leap towards the AAM industry.
  • In July 2024, The European Union Aviation Safety Agency (EASA) issued Volocopter's VoloCity air taxi the first air operator certificate (AOC) for its class of aeronautics. This particular certification allows Volocopter to conduct its planned commercial demand for passenger inter-city air travel which cements the already existing ultra-modern aerial variability leader position.
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FAQs

Global Advanced Air Mobility Market size was valued at USD 10.15 Billion in 2022 poised to grow from USD 12.65 Billion in 2023 to USD 15.77 Billion by 2031, growing at a CAGR of 24.6% in the forecast period (2024-2031).

The competition within the global advanced air mobility market is generally built on engagements and creativity of its very players. The main highlights are Joby Aviation, Archer Aviation, Volocopter, and Boeing which are all working on electric vertical take-off and landing (eVTOL) aircrafts and related technologies. Also, closing of aerospace industries, tech entry businesses and regulatory bodies is paramount to the growth of AAM solutions. This fast evolving scenario is the one making rapid developments and urban air mobility the focus of attention all over the world. 'Joby Aviation (USA)', 'Archer Aviation (USA)', 'Volocopter (Germany)', 'Boeing (USA)', 'Bell Textron (USA)', 'Lilium (Germany)', 'EHang (China)', 'Kitty Hawk (USA)', 'Pipistrel (Slovenia)', 'Urban Aeronautics (Israel)', 'Airbus (France)', 'Rolls-Royce (UK)', 'Vertical Aerospace (UK)', 'XTI Aircraft (USA)', 'OHM Aviation (France)'

There is an up rise in demand for the global advanced air mobility market with regards to urban transportation systems, in order to include solutions to excessive traffic. With the expansion of cities, ground transportation systems age incapable of expanding, creating the demand for quicker and efficient transport systems that operate above the men non-elevated transportation, like eVTOLs and air taxis, to ease the urban mobility.

Rise of Electric and Sustainable Aviation Technologies: The global advanced air mobility market is progressively emphasizing more on electric and hybrid aircraft technologies in order to meet the goals of sustainability. Most major players are sinking their resources into eVTOL due to the urgency of green transportation and controlling the levels of carbon emissions in urban air mobility.

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.

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Global Advanced Air Mobility Market

Report ID: SQMIG20A2271

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