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Clouds or clear skies? McKinsey report on prospects for future air mobility

A report by McKinsey & Company about the rapidly evolving landscape of AAM, articulates how 2023 marked a pivotal year of progress and potential according to a post by the Canadian Advanced Air Mobility (CAAM). From electric vertical takeoff and landing (eVTOL) vehicles to sustainable aviation solutions, the horizon McKinsey reports is brimming with transformative technologies and innovative initiatives.

According to the post by CAAM “The Future Air Mobility team at McKinsey & Company shared some industry data to demonstrate the steady progress of the industry in 2023:

▶ “Investors signalled their continued interest by funnelling USD4.5 billion in disclosed funding into the market, though 2023 funding was 9% below the USD4.9 billion raised in 2022.

▶ “The number of aircraft orders, including options and letters of intent, also trended lower in 2023 but remained above historical levels.

▶ “Increased scale and breadth of drone delivery operations – over 1 million commercial drone deliveries were estimated to have occurred in 2023.

▶ “Flight testing activity ramped up in 2023, especially in the manned AAM segment. Seven leading companies have recorded over 8,000 cumulative disclosed flight hours through the end of 2023.

▶ “An increasing number of suppliers are supporting FAM players – 2023 had 375 publicly disclosed supply-chain deals or relationships within the FAM industry, which represents a 17% increase from 2022.

“However, challenges such as the pace of technological advancement, public acceptance, regulatory approval, and economic viability still need resolution to sustain investor interest and industry progress.”

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(Image: CAAM)

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