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Report predicts AAM USD16 billion new business, 66 million passengers for Virginia USA over next 23 years

The Virginia Innovation Partnership Corporation (VIPC) has published an economic impact study focused on Advanced Air Mobility (AAM) which it reports will bring transformative societal and economic benefits. Additionally, VIPC says the report is an exploration of how the Commonwealth of Virginia may become a leader of AAM in North America, with the opportunities and challenges involved in being among the first.

The executive summary states that AAM will soon transform the lives of Virginia residents, businesses, educators, agencies, and public safety personnel. Furthermore it says AAM, including Vertical Takeoff and Landing (VTOL) aircraft and drones of all types will perform countless tasks not traditionally performed by existing aircraft and in airspace not traditionally used.

“We estimate in the next 23 years some 66 million passengers in Virginia will have travelled using new eVTOL services since their introduction.

“According to our findings the economic impact and benefits to the Commonwealth of Virginia by the AAM industry (through 2045) will:

  • “Generate USD16 billion in new business activity
  • Add 10% or more to the growth of Virginia’s existing aerospace sector
  • Produce USD2.8 billion in local, state, and federal tax revenues
  • Create over 17,000 new full-time aerospace industry and other jobs in the Commonwealth
  • Bring employment and educational opportunities to all regions of the Commonwealth. including underserved and economically challenged areas.”

In the period 2041-2045 the report forecasts VTOL passenger levels at “about 7.7 million per year, or over 21,000 per day”.

For more information and download the report


(Image: Virginia’s Aurora Flight Services)

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