Urban Air Mobility Industry Set to Reach $28.5 Billion by 2030

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Urban Air Mobility Industry Set to Reach 28.5
Billion by 2030 at a CAGR of 33.5 This Report
Analyzes the Urban Air Mobility Market from 2020
to 2030. It discusses industry and technological
trends currently prevailing in the market and the
factors that drive, restrain, and challenge
market growth globally. The urban air mobility
market is estimated to be USD 3.8 billion in
2023 and is projected to reach USD 28.5 billion
by 2030, at a CAGR of 33.5
during period. include need
the forecast Key factors the increasing
for efficient
transportation, increased environmental
concerns, and the growing demand for noise-free
aircraft and green energy. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id251142860 Based on the Solution, the
platforms segment is expected to lead the market
in 2023. The platform segment includes
aerostructures, avionics, propulsion, electrical,
and software. By integrating the platform
segment, UAM vehicles can operate seamlessly and
safely within complex urban environments. The
increasing advancements in artificial
intelligence and machine learning algorithms have
further improved the capabilities of UAM
systems, enabling efficient route planning,
collision avoidance, and real-time monitoring.
The growth of the platform segment can be
attributed to several factors, such as
advancements in UAM technologies, the increasing
aircraft designs by various companies and
startups in the UAM market, and rising
investments in the UAM industry to stimulate
innovation and development thereby resulting in
enhanced performance, reliability, and efficiency
of UAM systems. Based on platform operations,
the piloted segment is expected to lead the
market in 2023. Piloted vehicles in Urban Air
Mobility (UAM) offer several advantages, such as
familiarity and passenger reassurance, which
accelerates public acceptance and regulatory
approvals, which is crucial for the widespread
adoption of UAM. Piloted vehicles also serve as
a transitional phase towards fully autonomous
systems, allowing for incremental advancements
in technology and infrastructure. Additionally,
with the integration of electric propulsion
systems, piloted UAM vehicles contribute to
reducing carbon emissions and promoting
sustainable transportation. Thus, the growth of
piloted segment paves the way for a
transformative revolution in urban air mobility.
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Based on range, the intercity (gt 100 km) segment
is expected to lead the market in 2023. The
growth of the intercity segment is due to the
advancements in electric and autonomous aircraft
technologies, which have paved the way for
faster, more efficient, and environmentally
friendly transportation options. The benefits
offered by UAM to save time and improve
passenger convenience have also increased the
demand for the intercity segment. As
infrastructure and regulatory frameworks have
adapted to support UAM operations, the industry
has been poised for further expansion. This
surge in intercity travel within the UAM sector
represents a transformative shift in the way
people commute and travel between cities,
heralding a revolutionary future for
transportation. Based on platform architecture,
the rotary-wing segment is expected to lead the
market in 2023. The rising demand for efficient
and sustainable transportation in congested
cities has fueled the development of electric and
hybrid-electric rotary- wing aircraft, offering
reduced noise and emissions. The increasing
developments in vertical takeoff and landing
capabilities for urban transportation are driving
this market segment. The widespread
implementation and adoption of advanced
technologies like autonomous flight systems to
enhance the safety and efficiency of rotary wing
operations in UAM is also impacting the growth of
the rotary-wing segment. Key Market
Players Major players operating in the urban air
mobility market include Volocopter GmbH
(Germany), Hyundai Motor Company (South Korea),
Lilium Aviation GmbH (Germany), EHang (China),
and Joby Aviation, Inc. (US). These companies
have reliable manufacturing facilities as well
as strong distribution networks across key
regions, such as North America, Europe, and Asia
Pacific. These companies have products with
wider applications, a larger product footprint,
significant market share, and broader
geographical use cases. They have established a
strong market presence and reputable products
with strong business strategies. Inquiry before
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