With at 16.6% CAGR, Urban Air Mobility Market Anticipated to Increase $14.64 Billion by 2032 | UAM Industry Growth

Key Companies Covered in Urban Air Mobility Market are Textron Inc, Uber Technologies Inc, Airbus SE, Ehang, Safran SA, Volocopter, & Others.

NJ, UNITED STATES, March 13, 2025 /EINPresswire.com/ -- The global urban air mobility market size was USD 4.21 billion in 2024. The market is projected to grow from USD 5.00 billion 2021 to USD 14.64 billion in 2032 at a CAGR of 16.6% during the 2024-2032 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Urban Air Mobility Market Size, Industry Share and Global Report, 2024-2032.” Factors such as increasing urbanization and degrading traffic conditions will boost the market during the forecast period. Also, rising demand for creating a faster, cleaner, safer, and interconnected transportation will fuel the growth of the market.

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➤ Market Trends & Investments

Increased investment from airlines and transportation companies is accelerating commercialization.
Infrastructure development, including vertiports and charging stations, is gaining momentum.
Cities worldwide are piloting UAM initiatives to ease urban congestion and reduce emissions.

➤ Segments Analysis

Vehicle Type, Range, Operation, End User, and Region are studied for the Market
Based on vehicle type, the market is segmented into air taxis, air metro, air ambulance, last-mile delivery, and others.

By range, the market is divided into intercity and intracity.
In terms of operation, the market is broken down into including piloted, hybrid, and autonomous.

By end user, the market is fragmented into ride-sharing companies, scheduled operators, e-commerce companies, hospitals and medical agencies, and private operators.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.

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➤ Report Coverage

The report focuses on providing a detailed insight into the inner working of the urban air mobility sector by uncovering the segments and subsegments for the market. Factors such as R&D capabilities and optimization of the manufacturing process for the dominant players are covered. Besides, ongoing market trends and upcoming industry developments are noted. The report also focuses on several growth factors that have contributed for the growth of the market over the past years.

➤ List of Key Players Present in the Market

• Textron Inc. (U.S.)
• Uber Technologies Inc. (U.S.)
• Airbus SE (Netherlands)
• Ehang (China)
• Safran SA (France)
• Volocopter (Germany)
• Lilium Aviation GmbH (Germany)
• Carter Aviation (U.S.)
• AIRSPACEX (U.S.)
• Aurora Flight Sciences (U.S.)

➤ Drivers & Restraints

Rising Demands for Green Solutions to Bolster Market Growth
Rising demand for alternative modes of transport and rocketing road traffic is expected to boost the urban air mobility market growth during the forecast period. Also, growing urban population and increasing growing urban population will fuel the growth of the market. Additionally, utilization of autonomous UAMs is expected to bore lower pollution, short travel times, and decrease demand on current transportation infrastructure. These factors will boost the market growth.

However, factors such as rising security concern, high initial investment, and limited government supportive in terms of regulatory framework will limit the market during the forecast period.

➤ Regional Insights

North America to Hold Largest Market Share Due to Presence of Dominant Players

North America will capture the largest urban air mobility market share during the forecast period, owing to increasing presence of dominant players coupled with rising adoption measures. Also, rising air traffic among residents will fuel the demand for air taxis and airport shuttle services. Factors such as last-mile and freight services coupled with eVTOL aircrafts will boost the market growth.

Europe will register the fastest growing market during the forecast period due to the region being the breeding ground for a majority of technology innovations. Rising investment opportunities as well as presence of prominent players will foster growth for the market.

➤ Competitive Landscape

Product Development to be at the Forefront for Developing a Sustainable Market

The market for urban air mobility is still at a budding stage with the dominant players competing for capturing a larger consumer base. The market is expected to grow at a steady rate by strategies such as collaboration, mergers & acquisitions, and developing and launching novel products to capture an attentive audience. For example, in May 2021, Volocopter revealed the Voloconnect. It is an electric vertical take-off and landing aircraft (eVTOL), which is designed for connecting suburbs and cities. This product will integrate with Volocopter’s existing intra-city aircraft series.

➤ Industry Development

Technological Innovations

eVTOL Advancements: Companies such as Joby Aviation and Archer Aviation are leading the charge in developing eVTOL aircraft. Joby’s aircraft can travel up to 100 miles at speeds of 200 mph, while Archer Aviation has secured a $1 billion order from United Airlines, signaling strong commercial interest.
AI & Additive Manufacturing: Startups are leveraging artificial intelligence and 3D printing to reduce production costs and accelerate aircraft development, making UAM more scalable.

Regulatory Developments

FAA Initiatives: The U.S. Federal Aviation Administration (FAA) has introduced a new aircraft category for eVTOLs and aims for early-stage UAM operations by 2028. The initial focus will be on integrating these aircraft into existing airport and helipad infrastructure.

Global Expansion: Countries like Japan are aggressively adopting UAM, with plans to operate nearly 30,000 air taxi flights during the 2025 Osaka World Expo.

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➤ Read Related Insights:
Unmanned Aerial Vehicle Market Size, Share, Trends & Industry Growth by 2030
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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
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