Urban Air Mobility Market to grow at a CAGR of 27.5% from 2022 to 2027, Driven by the growing use of eVTOL aircraft in military applications - Technavio

Rhea-AI Summary

The urban air mobility market is projected to grow by USD 5,280.25 million from 2022 to 2027, with a CAGR of 27.5%. Key drivers include the adoption of eVTOL aircraft for military and logistics applications, alongside a rising need for efficient and environmentally friendly transport options. However, challenges such as limitations in battery technology could hinder growth, as achieving the required energy density for eVTOLs remains a significant hurdle. Notably, North America is expected to contribute 48% of the market's growth, fueled by e-retailing and last-mile delivery demands.

Positive

• Market projected to grow by USD 5,280.25 million from 2022 to 2027.
• CAGR of 27.5% demonstrates strong growth potential.
• North America expected to contribute 48% of market growth, driven by last-mile delivery demand.

Negative

• Limitations of existing battery technology may impede market growth.

NEW YORK, March 27, 2023 /PRNewswire/ -- The global urban air mobility market size is estimated to grow by USD 5,280.25 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 27.5% during the forecast period. The increasing use of eVTOL aircraft in military applications, the need for efficient logistics and last-mile delivery modes, and the increasing need for green energy and noise-free aircraft are notably driving the market growth. Urban air mobility is growingly seen as a future option for affordable, rapid, and sustainable travel, addressing both congestion and environmental issues faced by modern cities. Advances in technology encourage more than 120 startups and aerospace companies to develop urban air mobility vehicles known as eVTOLs (electric vertical take-off and landing vehicles). They all envision the potential of Urban air mobility in the future. The electric vertical take-off and landing (eVTOL) aircraft have multiple benefits in the military because of their freedom to operate from anywhere, options to fly manually or autonomously, reduced noise levels, and elimination of the need for runways. Hence, the above-mentioned factors will boost the growth of the global urban air mobility (UAM) market during the forecast period.

For more insights on the historic market data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial  - buy the report!

Major challenges hindering the market growth

Limitations of existing battery technology are a major challenge that may impede market growth during the forecast period. The electrification of cars was successful, due to the focus on increasing affordability and making them more compact, whereas a flight requires a tremendous amount of energy. Achieving it is difficult due to the technological limitations of the battery industry. In an aircraft, the main concern is not cost or volume but weight. There is a need to increase the storage capacity of the battery without increasing the weight of the aircraft. And to design an eVTOL aircraft with commercial payload-range characteristics, a battery needs to have a minimal energy density of 500Wh/kg, whereas most commercial batteries can only deliver 30%-50% of this. Hence, limitations like the weight and need for more advanced technologies may hamper the growth of the market during the forecast period.

Leading trends influencing the market 

The major trend in the urban air mobility (UAM) market is the growing adoption of technological advances. Large packages or goods need to be collected directly by the customer and not outside homes because of their high value. This poses a challenge for delivery services companies. Hence, delivery providers provide their customers with web and mobile-based last-mile delivery management applications to manage the delivery schedule of large or heavy cargo or packages. These applications allow options like the real-time management of package delivery and electronic rescheduling and alert the customer in the case of delays due to inclement weather or traffic issues through email, electronic messages, or voice calls. Therefore, technological advances are expected to positively influence the growth of the (UAM) market during the forecast period.

Insights on market drivers, trends, & challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

Urban Air Mobility Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (autonomous and piloted), application (delivery and passenger mobility), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The market share growth of the autonomous segment will be significant for the market growth during the forecast period. Autonomous urban air mobility refers to the use of unmanned aerial vehicles or drones for transportation in urban environments, aiming to provide cities with a safe, efficient, and sustainable air transportation option by reducing traffic congestion and increasing mobility. The concept of self-driving/autonomous urban air mobility is still in its early stages of development. Its widespread adoption depends on overcoming the technical and regulatory hurdles. However, the market for autonomous aircraft is anticipated to grow, creating opportunities for investors and benefiting a variety of sectors along the way.

Geography Overview
By geography, the global urban air mobility market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global urban air mobility market.

• North America is estimated to contribute to 48% of the growth of the global market during the forecast period. The growth in the region can be attributed to factors such as the growth of e-retailing, the focus on segment-specific service offerings, and the adoption of the premium delivery service model. The growing network of last-mile connectivity options is another factor that drives the use of urban air mobility services in the region. Online purchases which are usually delivered to customers' doorsteps drive the demand for last-mile delivery services. Purchases delivered using last-mile delivery services are increasingly preferred to physical shopping by many consumers due to the convenience and time-saving benefits. A massive disruption in supply chains led to consumers spending less time in offline stores and more time on online stores. Thus, impacting the growth of the market in focus positively. 

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Urban Air Mobility Market - Vendor Analysis

Vendor Landscape - The global urban air mobility market is highly competitive, with the presence of several vendors which compete on the basis of cost, quality, reliability, and other services. Airbus SE, Archer Aviation Inc., Bartini Inc., EHang Holdings Ltd., Embraer SA, Geely Auto Group, Honeywell International Inc., Joby Aviation Inc., Kitty Hawk Corp., Lilium GmbH, Lockheed Martin Corp., Moller International, Moog Inc., Raytheon Technologies Corp., The Boeing Co., Volocopter GmbH, Wingcopter GmbH, Wisk Aero LLC, Workhorse Group Inc., and Textron Inc. are some of the major players in the market.

What are the key data covered in this Urban Air Mobility Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the urban air mobility market between 2023 and 2027
• Precise estimation of the size of the urban air mobility market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the urban air mobility market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of urban air mobility market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The last-mile delivery market is estimated to grow at a CAGR of 15.62% between 2022 and 2027. The size of the market is forecast to increase by USD 165.6 billion. The growing global e-commerce industry is the major factor driving the global last-mile delivery market growth. 

 The same-day delivery market size in the US is expected to increase by USD 9.82 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 20.31%. The growing B2C e-commerce market in the US is one of the primary same-day delivery market growth drivers. 

Urban Air Mobility Market Scope
Report Coverage	Details
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 27.5%
Market growth 2023-2027	USD 5,280.25 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	23.78
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 48%
Key countries	US, China, Germany, UK, and France, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Airbus SE, Archer Aviation Inc., Bartini Inc., EHang Holdings Ltd., Embraer SA, Geely Auto Group, Honeywell International Inc., Joby Aviation Inc., Kitty Hawk Corp., Lilium GmbH, Lockheed Martin Corp., Moller International, Moog Inc., Raytheon Technologies Corp., The Boeing Co., Volocopter GmbH, Wingcopter GmbH, Wisk Aero LLC, Workhorse Group Inc., and Textron Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio Industrials Market reports      

Table of Contents  

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global urban air mobility market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global urban air mobility market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Autonomous - Market size and forecast 2022-2027
• Exhibit 34: Chart on Autonomous - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Autonomous - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Autonomous - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Autonomous - Year-over-year growth 2022-2027 (%)

• 6.4 Piloted - Market size and forecast 2022-2027
• Exhibit 38: Chart on Piloted - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Piloted - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Piloted - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Piloted - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 43: Chart on Application - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 45: Chart on Comparison by Application
• Exhibit 46: Data Table on Comparison by Application

• 7.3 Delivery - Market size and forecast 2022-2027
• Exhibit 47: Chart on Delivery - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Delivery - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Delivery - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Delivery - Year-over-year growth 2022-2027 (%)

• 7.4 Passenger mobility - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Passenger mobility - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Passenger mobility - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Passenger mobility - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Passenger mobility - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Application 
• Exhibit 55: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027
• Exhibit 97: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Airbus SE 
• Exhibit 108: Airbus SE - Overview
• Exhibit 109: Airbus SE - Business segments
• Exhibit 110: Airbus SE - Key news
• Exhibit 111: Airbus SE - Key offerings
• Exhibit 112: Airbus SE - Segment focus

• 12.4 Archer Aviation Inc. 
• Exhibit 113: Archer Aviation Inc. - Overview
• Exhibit 114: Archer Aviation Inc. - Product / Service
• Exhibit 115: Archer Aviation Inc. - Key offerings

• 12.5 EHang Holdings Ltd. 
• Exhibit 116: EHang Holdings Ltd. - Overview
• Exhibit 117: EHang Holdings Ltd. - Product / Service
• Exhibit 118: EHang Holdings Ltd. - Key news
• Exhibit 119: EHang Holdings Ltd. - Key offerings

• 12.6 Embraer SA 
• Exhibit 120: Embraer SA - Overview
• Exhibit 121: Embraer SA - Business segments
• Exhibit 122: Embraer SA - Key offerings
• Exhibit 123: Embraer SA - Segment focus

• 12.7 Geely Auto Group 
• Exhibit 124: Geely Auto Group - Overview
• Exhibit 125: Geely Auto Group - Product / Service
• Exhibit 126: Geely Auto Group - Key offerings

• 12.8 Honeywell International Inc. 
• Exhibit 127: Honeywell International Inc. - Overview
• Exhibit 128: Honeywell International Inc. - Business segments
• Exhibit 129: Honeywell International Inc. - Key news
• Exhibit 130: Honeywell International Inc. - Key offerings
• Exhibit 131: Honeywell International Inc. - Segment focus

• 12.9 Joby Aviation Inc. 
• Exhibit 132: Joby Aviation Inc. - Overview
• Exhibit 133: Joby Aviation Inc. - Product / Service
• Exhibit 134: Joby Aviation Inc. - Key offerings

• 12.10 Kitty Hawk Corp. 
• Exhibit 135: Kitty Hawk Corp. - Overview
• Exhibit 136: Kitty Hawk Corp. - Product / Service
• Exhibit 137: Kitty Hawk Corp. - Key offerings

• 12.11 Lilium GmbH 
• Exhibit 138: Lilium GmbH - Overview
• Exhibit 139: Lilium GmbH - Product / Service
• Exhibit 140: Lilium GmbH - Key offerings

• 12.12 Lockheed Martin Corp. 
• Exhibit 141: Lockheed Martin Corp. - Overview
• Exhibit 142: Lockheed Martin Corp. - Business segments
• Exhibit 143: Lockheed Martin Corp. - Key news
• Exhibit 144: Lockheed Martin Corp. - Key offerings
• Exhibit 145: Lockheed Martin Corp. - Segment focus

• 12.13 Textron Inc. 
• Exhibit 146: Textron Inc. - Overview
• Exhibit 147: Textron Inc. - Business segments
• Exhibit 148: Textron Inc. - Key news
• Exhibit 149: Textron Inc. - Key offerings
• Exhibit 150: Textron Inc. - Segment focus

• 12.14 Volocopter GmbH 
• Exhibit 151: Volocopter GmbH - Overview
• Exhibit 152: Volocopter GmbH - Product / Service
• Exhibit 153: Volocopter GmbH - Key offerings

• 12.15 Wingcopter GmbH 
• Exhibit 154: Wingcopter GmbH - Overview
• Exhibit 155: Wingcopter GmbH - Product / Service
• Exhibit 156: Wingcopter GmbH - Key offerings

• 12.16 Wisk Aero LLC 
• Exhibit 157: Wisk Aero LLC - Overview
• Exhibit 158: Wisk Aero LLC - Product / Service
• Exhibit 159: Wisk Aero LLC - Key offerings

• 12.17 Workhorse Group Inc. 
• Exhibit 160: Workhorse Group Inc. - Overview
• Exhibit 161: Workhorse Group Inc. - Product / Service
• Exhibit 162: Workhorse Group Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-air-mobility-market-to-grow-at-a-cagr-of-27-5-from-2022-to-2027--driven-by-the-growing-use-of-evtol-aircraft-in-military-applications---technavio-301780842.html

SOURCE Technavio

FAQ

What is the projected growth of the urban air mobility market from 2022 to 2027?

The urban air mobility market is projected to grow by USD 5,280.25 million from 2022 to 2027.

What is the estimated CAGR for the urban air mobility market during the forecast period?

The urban air mobility market is estimated to grow at a CAGR of 27.5% during the forecast period.

Which region is expected to contribute the most to the urban air mobility market growth?

North America is expected to contribute 48% of the growth in the urban air mobility market.

What are the key drivers of urban air mobility market growth?

Key drivers include the use of eVTOL aircraft in military applications and the demand for efficient and eco-friendly transport solutions.

What challenge could hinder the growth of the urban air mobility market?

A major challenge is the limitations of existing battery technology, affecting the performance of eVTOL aircraft.