by The advanced aerial mobility market involves developing electric-powered aircraft and services for passenger and cargo transport within urban environments and connected territories. These aerial vehicles utilize electric vertical take-off and landing (eVTOL) technologies to link locations that ground transport cannot easily connect. The market products offer emission-free short-haul flights, traffic decongestion, emergency transport capabilities, and new point-to-point mobility options.
The Global Advanced Aerial Mobility Market is estimated to be valued at US$ 10.24 billion in 2024 and is expected to exhibit a CAGR of 20% over the forecast period between 2024 to 2031.
Key Takeaways
Key players operating in the Advanced Aerial Mobility are A3 by Airbus, Airbus S.A.S., Archer Aviation, Aurora Flight Sciences, Bell Textron Inc., Boeing Company, EHang, Embraer S.A., Hyundai Motor Company, Joby Aviation.
Growing investments from these companies and startups have accelerated the development of electric vertical take-off and landing (eVTOL) aircraft models. Surging demand for Advanced Aerial Mobility Market Trends is propelling ongoing partnerships with cities to launch air taxi networks and related infrastructure projects. Several trial routes and demo flights have occurred, supporting the anticipated broad expansion of the advanced aerial mobility market across global urban areas over the next decade.
The rising global urban population and worsening traffic congestion are fueling demand for new sustainable mobility options. eVTOL technology provides an environmentally-friendly method of transportation ideally suited for urban settings. Several cities have pledged major funding and instituted regulations to allow advanced air taxi operations as early as 2024. Widespread deployment of battery-powered eVTOL aircraft could help address congestion while reducing emissions from ground vehicles currently dominating short-haul travel.
As advanced aerial vehicles near certification, the global market is poised for tremendous growth. Manufacturers are expanding production and service center capacity around key hubs to realize the vision of aerial transportation networks worldwide. Partnerships with infrastructure developers and transit authorities will connect advanced air mobility solutions into multimodal transit systems. Growing investment is accelerating technology maturation and large-scale manufacturing to bring down costs and realize the widespread availability of aerial services globally by 2030.
Market Key Trends
One of the major trends driving growth in the Advanced Aerial Mobility Market Size And Trends is the shift towards electric and hybrid-electric propulsion systems. Strict emissions regulations and sustainability targets in the aviation industry are spurring investment in battery and hydrogen fuel cell technologies suitable for eVTOL aircraft. While initial piloted vehicles rely entirely on electric batteries, longer-term designs integrate hybrid-electric configurations for extended range. Both solutions offer cleaner operations than legacy fueled propulsion systems. Continuous advancement in battery technology is expanding aircraft capabilities and bringing down overall operating costs of electric vertical aircraft. This transition to electric propulsion ensures advanced aerial mobility solutions can deliver emission-free passenger and cargo services viable in both urban and regional settings.
Porter’s Analysis
Threat of new entrants: It is difficult for new players to enter the market as it requires high capital investment and technical expertise.
Bargaining power of buyers: Buyers have moderate bargaining power as there are limited players operating in this emerging market.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to limited availability of critical components and technologies required.
Threat of new substitutes: Threat of substitution is low as advanced aerial mobility provides convenience that cannot be replicated.
Competitive rivalry: The market is dominated by major players and competition is high based on technology, product performance and pricing.
Geographical Regions
North America currently holds the largest share in the advanced aerial mobility market in terms of value owing to presence of major OEMs and technology companies in the US and Canada.
Asia Pacific is expected to witness the fastest growth during the forecast period driven by initiatives from governments in countries like China, Japan and India to develop urban air mobility infrastructure and adoption of drone technologies.
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*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
