Global Urban Air Mobility Industry Market Valuable Growth Prospects, Top Players, Key Country Analysis, Trends and Forecast till 2026
Global Urban Air Mobility Market valued approximately USD 5.25 billion in 2018 is anticipated to grow with a healthy growth rate of more than 11.34% over the forecast period 2019-2026. The Urban Air Mobility Market is continuously growing in the global scenario at significant pace. Urban air mobility (UAM) refers to on-demand and automated passenger or cargo-carrying air transportation services, typically flown without a pilot. Increasing need to enhance operational efficacy, escalating investment, increasing initiative towards smart cities and growing need for alternate transportation mode in urban mobility are the substantial driving factors of the market during the forecast period. Additionally, surging demand for an efficient mode of logistics & transportation is further likely to propel the growth of the market in the coming future. Moreover, increasing demand for autonomous air ambulance vehicles is the major factors that likely to create numerous opportunity in the near future. In addition, urban air mobility aim to deliver scalable replicable services by capitalizing the benefit from aiding the third dimension to urban mobility, so this is also a factor that contributes towards promoting the demand of urban air mobility across the globe. However, strict regulations associated with the use of urban air mobility and limited adoption of urban air mobility due to pestle factors are the factors that limiting the growth of the market during the forecast period.
Global Urban Air Mobility Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share due to increasing investment activities and rising ability to spend more on transportation operations in the region. North America is also estimated to grow at significant growth rate in the global Urban Air Mobility market over the upcoming years. Further, Asia-Pacific anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026 owing to rising initiative towards the smart cities and rising adoption of urban air mobility due to growing environmental concerns across the region.