Advanced Air Mobility Market - By Component (Hardware, Software), By Application (Cargo Transport, Passenger Transport, Mapping & Surveying, Special Mission, Surveillance & Monitoring), By Type, By Operating Mode, By Propulsion Type, By End Use & Forecast – 2032
Published on: 2024-07-07 | No of Pages : 240 | Industry : Aerospace
Publisher : MRA | Format : PDF&Excel
Advanced Air Mobility Market - By Component (Hardware, Software), By Application (Cargo Transport, Passenger Transport, Mapping & Surveying, Special Mission, Surveillance & Monitoring), By Type, By Operating Mode, By Propulsion Type, By End Use & Forecast – 2032
Advanced Air Mobility Market - By Component (Hardware, Software), By Application (Cargo Transport, Passenger Transport, Mapping & Surveying, Special Mission, Surveillance & Monitoring), By Type, By Operating Mode, By Propulsion Type, By End Use & Forecast – 2032
Advanced Air Mobility Market Size
Advanced Air Mobility Market size was valued at USD 8.2 billion in 2022 and is anticipated to grow at a CAGR of over 20% between 2023 and 2032. The growing focus on reducing carbon emissions and combating climate change is a major factor driving the Advanced Air Mobility (AAM) market growth.
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AAM offers a potential solution to air pollution as electric & hybrid-electric aircraft can significantly reduce emissions. Additionally, AAM vehicles can be operated more efficiently than traditional aircraft, further reducing their environmental impacts. The aviation industry is responsible for about 2% of global greenhouse gas emissions. Many governments are setting targets for reducing emissions from the aviation industry, creating a demand for new, more sustainable technologies. The growing focus on sustainability is also a major factor driving market growth. AAM offers the potential to reduce emissions and combat climate change and is likely to become increasingly important in the coming years.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Advanced Air Mobility Market Size in 2022 | USD 8.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 20% |
| 2032 Value Projection | USD 50 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 462 |
| Segments covered | Component, Application, Type, Operating Mode, Propulsion Type, End-user and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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Advanced air mobility refers to a cutting-edge aviation concept focused on developing and implementing electric or hybrid-electric Vertical Take-Off and Landing (eVTOL) aircraft for urban & regional transportation. AAM aims to revolutionize passenger & cargo mobility by providing efficient, sustainable, and low-altitude flight options, potentially reducing congestion & environmental impacts in densely populated areas while offering faster and more convenient transportation alternatives.
The advanced air mobility market is expected to grow rapidly in the coming years. However, it will face competition from other modes of transportation, such as helicopters, Personal Air Vehicles (PAVs), and electric Vertical Take-Off and Landing (eVTOL) aircraft. To gain success, AAM vehicles must be more affordable, efficient, and safe compared to other modes of transportation. They should also be able to integrate into existing airspace and transportation systems.
COVID-19 Impact
The COVID-19 pandemic disrupted advancements in the air mobility sector in several ways. The aerospace industry, already grappling with economic challenges, witnessed reduced funding, and slowed development timelines in advanced air mobility projects. Travel restrictions and reduced demand for commercial aviation hindered the testing & adoption of electric Vertical Take-Off and Landing (eVTOL) vehicles. Additionally, supply chain disruptions hampered the production of critical components, further delaying progress. As governments shifted priorities toward healthcare and economic recovery, regulatory frameworks for air mobility faced delays, hindering the industry's ability to scale. Overall, the pandemic posed significant setbacks to the evolution of advanced air mobility.
Advanced Air Mobility Market Trends
The advanced air mobility industry is experiencing a notable upward trend. Increased investments from both traditional aerospace giants and startups have fueled innovation in electric Vertical Take-Off and Landing (eVTOL) aircraft. Partnerships between tech companies and aviation firms are facilitating the development of urban air mobility solutions. Governments are showing a high interest in regulatory frameworks to support AAM, leading to clearer paths for commercialization. Growing environmental concerns and traffic congestion in urban areas are driving the demand for AAM as a solution for efficient, sustainable transportation.
Advanced Air Mobility Market Analysis
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Based on application, the advanced air mobility market is segmented into cargo transport, passenger transport, mapping & surveying, special mission, and surveillance & monitoring. The surveillance & monitoring segment was valued at over USD 2 billion in 2022 and is expected to grow at a lucrative pace till 2032. Surveillance and monitoring applications are growing due to their critical role in ensuring safety, security, and operational efficiency. Additionally, surveillance supports emergency response and law enforcement efforts, enhancing overall public safety. With regulatory bodies emphasizing safety and reliability in AAM operations, the demand for advanced surveillance & monitoring technologies is increasing, driving innovation and investment in this crucial aspect of AAM development.
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Based on type, the advanced air mobility market is segmented into air taxis and drones. The drones segment was catering over 60% market share in 2022 and is expected to reach over USD 35 billion in revenue by 2032. The growth of drones in the Advanced Air Mobility (AAM) market is driven by their versatility and applicability in various industries. AAM encompasses a range of aerial vehicles including drones as they offer cost-effective and agile solutions for tasks such as aerial surveys, cargo delivery, and monitoring. Technological advancements, such as improved battery life and autonomous navigation systems, have expanded the capabilities of drones. Additionally, the demand for last-mile delivery and infrastructure inspections has spurred the adoption of drone-based solutions. As urban air mobility evolves, drones are poised to play a vital role in enhancing transportation networks, making them a key component in the AAM industry.
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North America held a significant advanced air mobility market share of over 35% in 2022. North America represents a critical component of the region's aerospace and defense industries. These systems encompass a complex network of pipes, hoses, valves, and connectors designed to transport various fluids including fuel, hydraulic fluids, and gases in aircraft, spacecraft, and military equipment. North America has a robust and advanced aerospace & defense sector, making it a hub for innovation and production of fluid conveyance systems. In the U.S. and Canada, leading aerospace & defense companies as well as numerous specialized manufacturers are continually developing cutting-edge technologies for fluid conveyance. These systems are engineered to meet stringent safety and reliability standards, given the high-stakes nature of the aerospace & defense industry.
Advanced Air Mobility Market Share
The advanced air mobility market is highly competitive owing to the presence of key players such as
- Airbus S.A.S.
- Aurora Flight Sciences
- Bell Textron Inc.
- The Boeing Company
- Guangzhou EHang Intelligent Technology Co., Ltd.
- Embraer S.A.
- Joby Aviation
- Lilium GmbH
- Neva Aerospace
- Opener, Inc.
- PIPISTREL (Textron Inc.)
- Terrafugia
- Vertical Aerospace Group Ltd.
- Volocopter GmbH
- Wisk Aero
- Workhorse Group, Inc
Growing investments in facility centers & acquisitions will increase the foothold of industry participants in the commercial industry. Significant investments in R&D to gain technological competitiveness and aggressive business strategies including technological launches, collaborations & long-term agreements with clients to capture the market share are positively impacting the market.
Advanced Air Mobility Industry News
- In June 2023, Honeywell Technology Solutions launched an Advanced Air Mobility Lab dedicated to drone testing in Madurai (India). The company views the drone sector as a huge market opportunity in the country, especially from a defense drone perspective.
The advanced air mobility market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segmentsClick here to Buy Section of this Report
By Component
- Hardware
- Aerostructure
- Avionics
- Flight Control System
- Propulsion System
- Others
- Software
By Application
- Cargo Transport
- Passenger Transport
- Mapping & Surveying
- Special Mission
- Surveillance & Monitoring
- Others
By Type
- Air Taxis
- Drones
- Others
By Operating Mode
- Piloted
- Autonomous
By Propulsion Type
- Gasoline
- Electric
- Hybrid
By End Use
- Commercial
- Government & Military
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Advanced air mobility market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Application trends
2.6 Type trends
2.7 Operating mode trends
2.8 Propulsion Type trends
2.9 End-user trends
Chapter 3 Advanced Air Mobility Market Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/Collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Product launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rapid urbanization and increasing traffic congestion
3.10.1.2 Growing focus on reducing carbon emissions and combating
3.10.1.3 Investments in AAM infrastructure
3.10.1.4 Increasing demand for efficient and rapid intra-city transportation
3.10.2 Industry pitfalls & challenges
3.10.2.1 The airspace and regulations governing traditional aircraft
3.10.2.2 Competition with other means of transport
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.3.1 Company 1
4.3.2 Company 2
4.3.3 Company 3
4.3.4 Company 4
4.3.5 Company 5
4.3.6 Company 6
4.3.7 Company 7
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
Chapter 5 Advanced air mobility market Estimates & Forecast, By Component (USD Million)
5.1 Key trends, by component
5.2 Hardware
5.2.1 Aerostructure
5.2.2 Avionics
5.2.3 Flight Control System
5.2.4 Propulsion System
5.2.5 Others
5.3 Software
Chapter 6 Advanced air mobility market Estimates & Forecast, By Application (USD Million)
6.1 Key trends, by application
6.2 Cargo Transport
6.3 Passenger Transport
6.4 Mapping & Surveying
6.5 Special Mission
6.6 Surveillance & Monitoring
6.7 Others
Chapter 7 Advanced Air Mobility Market Estimates & Forecast, By Type (USD Million)
7.1 Key trends, by type
7.2 Air Taxis
7.3 Drones
7.4 Others
Chapter 8 Advanced Air Mobility Market Estimates & Forecast, By Operating Mode (USD Million)
8.1 Key trends, by operating mode
8.2 Piloted
8.3 Autonomous
Chapter 9 Advanced Air Mobility Market Estimates & Forecast, By Propulsion Type (USD Million)
9.1 Key trends, by propulsion type
9.2 Gasoline
9.3 Electric
9.4 Hybrid
Chapter 10 Advanced Air Mobility Market Estimates & Forecast, By End-user (USD Million)
10.1 Key trends, by end-user
10.2 Commercial
10.3 Government & Military
Chapter 11 Advanced Air Mobility Market Estimates & Forecast, By Region (USD Million)
11.1 Key trends, by region
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 UK
11.3.2 Germany
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 ANZ
11.4.6 Rest of Asia Pacific
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.5.3 Rest of Latin America
11.6 MEA
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 South Africa
11.6.4 Rest of MEA
Chapter 12 Company Profiles
12.1 Airbus S.A.S.
12.2 Aurora Flight Sciences
12.3 Bell Textron Inc.
12.4 The Boeing Company
12.5 Guangzhou EHang Intelligent Technology Co. Ltd.
12.6 Embraer S.A.
12.7 Joby Aviation
12.8 Lilium GmbH
12.9 Neva Aerospace
12.10 Opener, Inc.
12.11 PIPISTREL (Textron Inc.)
12.12 Terrafugia
12.13 Vertical Aerospace Group Ltd.
12.14 Volocopter GmbH
12.15 Wisk Aero
12.16 Workhorse Group, Inc.