Global Advanced Aerial Mobility Market Size By Propulsion Type, By Level Of Autonomy, By Application Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Advanced Aerial Mobility Market Size By Propulsion Type, By Level Of Autonomy, By Application Geographic Scope And Forecast

Advanced Aerial Mobility Market Size And Forecast

Advanced Aerial Mobility Market size was valued at USD 13.15 Billion in 2024 and is projected to reach USD 57.88 Billion by 2031, growing at a CAGR of 22.45% during the forecast period 2024-2031.

Global Advanced Aerial Mobility Market Drivers

The market drivers for the Advanced Aerial Mobility Market can be influenced by various factors. These may include

  • Technological Innovation The development of sophisticated aerial mobility solutions is being propelled by developments in electric propulsion systems, battery technology, lightweight materials, and autonomous navigation systems. These innovations make it possible to design aircraft that are greener, safer, and more effective.
  • Urbanisation and Congestion There is a growing need for other forms of transport that can avoid traffic on the ground as urban populations rise and cities becoming more crowded. AAM vehicles have the ability to reduce travel times and ease traffic congestion by offering quick, point-to-point transit within urban areas.
  • Environmental Concerns The development of electric and hybrid aircraft, which emit fewer pollutants than conventional fossil fuel-powered aircraft, is being driven by concerns about climate change and air pollution. Clean energy-powered AAM automobiles can lower greenhouse gas emissions and enhance urban air quality.
  • Government Recognition and Support Governments worldwide are beginning to acknowledge the possible advantages of enhanced aerial mobility and are offering support in the form of money, research grants, and regulatory frameworks. Safe integration of AAM vehicles into the airspace and urban environment requires well-defined norms and standards.
  • Investment and sector Growth Both established aerospace corporations and recent newcomers, such as startups and technology organisations, have made substantial investments in the AAM sector. The advancement of AAM infrastructure and technology is being accelerated by this investment, which is also spurring innovation.
  • Changing Mobility Patterns Interest in on-demand and shared mobility solutions is rising as customer tastes and mobility patterns change. AAM services might meet the needs of both enterprises and urban residents by providing easy and adaptable transportation options for both passengers and freight.
  • Public Acceptance and Awareness The future of the market will be greatly influenced by the degree to which AAM technologies are accepted and understood by the general public. To allay worries about safety, noise, and privacy while fostering confidence in these novel modes of transportation, outreach and education initiatives are required.

Global Advanced Aerial Mobility Market Restraints

Several factors can act as restraints or challenges for the Advanced Aerial Mobility Market. These may include

  • Regulatory Challenges Navigating the many regulatory frameworks that control airspace management, safety requirements, and certification procedures is one of the main obstacles. There are many obstacles to overcome in order to integrate AAM vehicles with the current air traffic control systems and guarantee that aviation laws are followed.
  • Infrastructure Restrictions It takes a significant amount of money and cooperation between multiple parties to construct the infrastructure required to enable AAM operations, such as vertiports, charging stations, and air traffic management systems. Inadequate infrastructure can make AAM solutions less scalable and less widely used.
  • Technological Barriers Although AAM technologies have advanced, there are still issues with efficiency, dependability, and safety. These issues affect energy storage, autonomous flight capabilities, and electric propulsion systems. It’s imperative that these obstacles be overcome to guarantee the feasibility and adoption of AAM solutions.
  • Cost Concerns Potential customers and investors may be turned off by the high expenses of producing, running, and repairing AAM cars. For the AAM market, achieving cost parity with conventional modes of transportation, such ground-based alternatives, continues to be a major problem.
  • Public Acceptance and Perception Public acceptance as well as regulatory decision-making may be impacted by worries about privacy, noise pollution, safety, and the integration of AAM vehicles into urban surroundings. Building trust and support for AAM technologies requires addressing these issues through outreach, education, and demonstration initiatives.
  • Limited Market Demand In areas with a well-established transportation infrastructure and a variety of other travel options, there may initially be less demand for AAM services. Finding and growing niche markets is essential for driving demand and generating income for AAM operators. Examples of these markets include urban air mobility, medical transport, and logistics.
  • Competition and Market Fragmentation With a growing number of businesses, startups, and stakeholders fighting for market share, the AAM industry is getting more and more crowded. Intense rivalry can make it difficult for market participants to establish themselves and obtain a competitive edge, especially when combined with market fragmentation and uncertainty.

Global Advanced Aerial Mobility Market Segmentation Analysis

The Global Advanced Aerial Mobility Market is Segmented on the basis of Propulsion Type, Level Of Autonomy, Application And Geography.

Advanced Aerial Mobility Market, By Propulsion Type

  • Electric Electric AAM vehicles are seen as a sustainable solution for urban air mobility. They are quieter than traditional aircraft and produce zero emissions at the point of operation.
  • Hybrid Hybrid AAM vehicles combine electric motors with gasoline or turbine engines. This can provide extended range compared to purely electric vehicles.
  • Turboshaft Turboshaft engines are commonly used in helicopters and can be used in AAM vehicles as well. They offer good power and range but can be noisy and produce emissions.
  • Turboelectric Turboelectric AAM vehicles use turbine engines to generate electricity for electric motors. This can offer the benefits of both electric and turboshaft engines.

Advanced Aerial Mobility Market, By Level Of Autonomy

  • Piloted Piloted AAM vehicles have a human pilot on board who controls the vehicle.
  • Autonomous Autonomous AAM vehicles operate without a human pilot on board. This technology is still under development but has the potential to revolutionize transportation.

Advanced Aerial Mobility Market, By Application

  • Cargo Transport This segment is expected to be a major driver of the AAM market, with applications in delivering goods within cities, between cities, and to remote locations. Drones are currently being used for medical supply delivery in some regions, and this is expected to expand.
  • Passenger Transport This is the segment that gets a lot of attention, with visions of flying taxis whisking people around cities. While passenger AAM is still under development, there are companies conducting trials for short-distance passenger flights.
  • Mapping & Surveying AAM vehicles can be used to capture aerial data for mapping, surveying, and inspection purposes. This can be helpful in construction, agriculture, and disaster response.
  • Special Missions AAM vehicles can be used for various special missions, including search and rescue, firefighting, and law enforcement.
  • Surveillance & Monitoring AAM systems can be deployed for surveillance and monitoring applications, such as border security, pipeline inspection, and traffic monitoring.

Advanced Aerial Mobility Market, By Geography

  • North America Market conditions and demand in the United States, Canada, and Mexico.
  • Europe Analysis of the Advanced Aerial Mobility Market in European countries.
  • Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
  • Middle East and Africa Examining market dynamics in the Middle East and African regions.
  • Latin America Covering market trends and developments in countries across Latin America.

Key Players

The major players in the Advanced Aerial Mobility Market are

  • Boeing
  • Lilium
  • Volocopter
  • Joby Aviation
  • EHang
  • AeroMobil
  • Airbus S.A.S.
  • Flytrex
  • Hyundai Motor Company
  • Matternet
  • PAL-V International B.V.
  • Zipline and others.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Base Year

2024

Forecast Period

2024-2031

Historical Period

2020-2022

Unit

Value (USD Billion)

Key Companies Profiled

Boeing, Lilium, Volocopter, Joby Aviation, EHang, Airbus S.A.S., Flytrex, Hyundai Motor Company, Matternet, Zipline and others.

Segments Covered

By Propulsion Type, By Level Of Autonomy, By Application And Geography.

Customization scope

Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

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