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ADVANCED AERIAL MOBILITY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Advanced Aerial Mobility Market, By Type of Vehicle (Air Taxis, Cargo Drones, Emergency Medical Services (EMS) Drones, and Urban Air Mobility Vehicles), By Technology (Electric Vertical Takeoff and Landing (eVTOL), Hybrid VTOL, and Traditional Aviation), By Application (Passenger Transportation, Cargo Transportation, Surveillance and Monitoring, Emergency Services, and Agriculture), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

  • Published In : Sep 2024
  • Code : CMI7393
  • Pages :144
  • Formats :
      Excel and PDF
  • Industry : Aerospace and Defense

Regional Analysis

Advanced Aerial Mobility Market Regional Insights

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North America is currently dominating the global advanced aerial mobility market. The region is expected to hold 37.2% of the market share in 2024 due to strong governmental support. Countries like the U.S. and Canada have allocated huge funds for developing infrastructure and regulatory framework necessary for urban air mobility. With the U.S. being the global pioneer in aerospace technologies, most leading drone manufacturers and air taxi service providers, such as Boeing, Airbus, Joby, Bell, and Kitty Hawk, are headquartered in the region providing it an edge. For instance, in September 2022, the U.S. Economic Development Administration (EDA) awarded approximately US$ 40 million to organizations involved in developing the Tulsa Regional Advanced Mobility (TRAM) Corridor.

On the other hand, Asia Pacific region is poised to be the fastest growing market during the forecast period. Countries like China, Japan, and South Korea are aggressively investing in emerging technologies. Chinese EV makers like Xpeng and EHang are at forefront of developing electric air vehicles with capabilities of vertical take-off and landing. Further, urban congestions in major Asian cities such as Tokyo, Beijing, Manila, etc. have fueled the demand for innovative urban transportation alternatives. The regional authorities are increasingly supporting commercialization of aerial vehicles citing their immense potential in improving intra-city connectivity.

Europe is another major market for advanced aerial mobility driven by strong manufacturing base and innovation capabilities. Many European OEMs have proactively rolled out pilot air taxi services in global partnerships. Governments in countries like Germany and the U.K. are funding R&D projects and startups contributing to European market growth. Overall, with pro-business regulations and high disposable income levels, the European Advanced Aerial Mobility market is expected to emerge as lucrative for Advanced Aerial Mobility market over mid to long term.

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