Advanced Air Mobility Market size is anticipated to grow at a CAGR of over 20% between 2023 and 2032

Advanced Air Mobility Market Size

Advanced Air Mobility Market size stood at USD 8.2 billion in 2022 and is expected to grow at a CAGR of more than 20% from 2023 to 2032. Increased emphasis on cutting carbon emissions and mitigating climate change is a key driver of the Advanced Air Mobility (AAM) market growth.

Hello! There’s a nifty solution on the way to assist in the battle against air pollutionelectric and hybrid-electric planes. They can reduce nasty emissions by a great deal. And these new planes fly more efficiently than their predecessors, reducing their impact on our world even further. Let’s discuss numbers now. Planes today contribute to a fair portion of the world’s greenhouse gases, around 2%. So, many governments are saying, “Hey, we need to cut back on this!” That’s where Advanced Air Mobility (AAM) comes in. These planes have the capability to lower emissions and assist us in fighting climate change. But that’s not the only thing. More and more people are becoming interested in saving the environment, so that’s another reason why AAM is a big deal. Overall, AAM is a sustainable solution that is able to help us breathe more easily and take care of our planet. It’s certainly going to be causing ripples in the coming years.

Advanced Air Mobility Market Report Attributes
Report Attribute Details
Base Year 2022
Advanced Air Mobility Market Size in 2022 USD 8.2 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 20%
2032 Value Projection USD 50 Billion
Historical Data for 2018 to 2022
No. of Pages 200
Tables, Charts & Figures 462
Segments included\tComponent, Application, Type, Operating Mode, Propulsion Type, End-user and Region
Growth Drivers:
Fast urbanization and rising traffic congestion
Rising emphasis on decreasing carbon emissions and fighting
Investments in AAM infrastructure
Rising demand for quick and efficient intra-city travel
Pitfalls & Challenges:
Airspace and regulations for conventional aircraft
Competition with other modes of transport
What are the growth opportunities in this market?

Advanced air mobility is a next-generation aviation technology to create and deploy electric or hybrid-electric Vertical Take-Off and Landing (eVTOL) planes for regional & urban transportation. AAM can transform passenger & freight mobility by offering low-altitude, efficient, and sustainable flight opportunities, potentially decreasing congestion & emissions in populated regions at the same time it offers quicker and more convenient travel options.

The AAM market will rapidly increase over the next few years. Nevertheless, it will experience competition from existing forms of transport like helicopters, PAVs, and electric Vertical Take-Off and Landing (eVTOL) planes. In order to succeed, AAM cars will need to be less costly, efficient, and safe relative to other types of transport. They must be able to penetrate into the available airspace and transportation systems as well.

COVID-19 Impact
The COVID-19 pandemic put a monkey wrench in the plans of building flying taxis and other air mobility ventures. Airlines were already suffering, so funding ceased and projects were shelved. Individuals could not travel as much, so there was less demand for new aircraft and less chance to experiment with electric planes that take off and land vertically. In addition to that, factories were unable to obtain the components needed, and production slowed down even further. Governments were busy keeping the public healthy and the economy going, so they did not have time to establish the rules and regulations required for air mobility to take off in earnest. Overall, the pandemic set a big dent in flying taxis and other air mobility initiatives.

Advanced Air Mobility Market Trends
The advanced air mobility sector is witnessing a sharp upward trend. Rising investments by both established aerospace leaders and startups have driven development in electric Vertical Take-Off and Landing (eVTOL) aircraft. Collaborations between tech and aviation companies are advancing the creation of urban air mobility solutions. Governments are developing high interest in regulatory frameworks to help drive AAM, resulting in more defined paths towards commercialization. Increasing environmental issues and traffic jams in cities are compelling the need for AAM as a means for efficient, green transportation.

Advanced Air Mobility Market Analysis
Discover more about the major segments influencing this market

Picture flying cars revolutionizing industries and solving common problems. The advanced air mobility (AAM) industry has various applications, such as
Cargo transportMoving goods rapidly and efficiently. Passenger transport Transporting people from A to B in a new way. Mapping & surveying Making precise maps and pictures from the air. Special missions Conducting specific jobs, such as search and rescue. Surveillance & monitoring Keeping tabs on things from above. And this last one, surveillance and monitoring, is gigantic! It’s worth billions of dollars and is only projected to expand. Why? Because it’s like having a team of super-smart flying cameras that canEnsure safetyWatching over events, cities, and infrastructure. Protect security Keeping an eye out for threats and suspicious activity. Help businesses run smoothlyMonitoring operations, preventing accidents, and optimizing everything. Support emergency response Guiding first responders during disasters and crises. Assist law enforcementTracking suspects, preventing crime, and keeping our communities safe. Governments are coming to see how crucial safety is in AAM operations. So, they’re demanding improved surveillance and monitoring technology. This is driving innovation and investment in this space, which is creating even more advanced means of monitoring from the air.

Advanced Air Mobility Market Share

The advanced air mobility market is highly competitive owing to the presence of key players such as

• Airbus S.A.S.
• Aurora Flight Sciences
• Bell Textron Inc.
• The Boeing Company
• Guangzhou EHang Intelligent Technology Co., Ltd.
• Embraer S.A.
• Joby Aviation
• Lilium GmbH
• Neva Aerospace
• Opener, Inc.
• PIPISTREL (Textron Inc.)
• Terrafugia
• Vertical Aerospace Group Ltd.
• Volocopter GmbH
• Wisk Aero
• Workhorse Group, Inc