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“UAM market to reach USD30.7 billion by 2031 at 30.2% CAGR” – latest market report

According to a report published by Allied Market Research, the global urban air mobility market size is projected to reach USD30.7 billion with a significant CAGR from 2023 to 2032. “The Asia-Pacific region is currently dominating the market with the highest market share and is expected to witness the fastest growth rate during the forecasted period,” according to the report. “The UAM industry is driven by advancements in electric propulsion, automation, and a growing need for sustainable solutions to address the challenges of urbanization.

“With this drift on board, many companies are investing in researching and developing unique and smart business strategies such as product launches, collaborations, mergers and acquisitions, partnerships for sustainable transportation systems. For instance, Eve UAM LLC in partnership with Skyport’s Pte Ltd. planning to develop a new Concept of Operations (CONOPS) for Advanced Air Mobility (AAM), specifically for the Japan Civil Aviation Bureau (JCAB). This initiative aims to establish an integrated framework for the design, operation, and infrastructure of airspace that will empower the successful implementation of AAM operations in Japan. Kanematsu Corporation and Japan Airlines (JAL) are notable collaborators involved in this partnership.

“At the same time, EHang Holdings LTd. and Tianxingjian Cultural Tourism Investment and Development LLC has signed a contract of 25 units of EH216 urban air mobility vehicles to promote aerial tourism in Aizhai wonder tourist area in Jishou, Hunan, China. More of such initiatives by the key market players are going to shower enormous growth prospects for the urban air mobility market in the upcoming years.”

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