Advanced Aerial Mobility Market Soars: 22.10% CAGR

Evolve Business Intelligence has published a research report on the Global Advanced Aerial Mobility Market, 2023–2033. The global Advanced Aerial Mobility Market is projected to exhibit a CAGR of around 22.10%during the forecast period of 2023 to 2033.

Evolve Business Intelligence has recognized the following companies as the key players in the global Advanced Aerial Mobility Market: AeroMobil, Airbus S.A.S., Flytrex, Hyundai Motor Company, Lilium, Matternet, PAL-V International B.V., The Boeing Company, Volocopter GmbH and Zipline.

Market Highlights

The Advanced Aerial Mobility Market is projected to be valued at USD 45.63 Billion by 2033, recording a CAGR of around 22.10% during the forecast period. Advanced Aerial Mobility (AAM), also known as Advanced Air Mobility, refers to the development and integration of innovative aircraft technologies aimed at transforming air transportation. Its goal is to enhance transportation efficiency across diverse environments, from urban areas to remote locations, by enabling passenger travel, cargo transport, emergency response, and other services through advanced technologies and air traffic management systems.

The Advanced Aerial Mobility market is poised to revolutionize transportation by leveraging cutting-edge technology to create more efficient, sustainable, and accessible air travel. The AAM market presents substantial opportunities for innovation, economic growth, and the transformation of transportation systems globally.

Segmental Analysis

The Advanced Aerial Mobility Market has been segmented based on Mode of Operation, Propulsion Type and End Use.

Based on Mode of Operation, the Advanced Aerial Mobility Market is segmented into Piloted and Autonomous. The Piloted Coatings segment is anticipated to dominate the market.

Based on Propulsion Type, the Advanced Aerial Mobility Market has been divided into Parallel Hybrid, Turboshaft, Electric, Turboelectric. The Electric segment is anticipated to dominate the market.

Based on End Use, the Advanced Aerial Mobility Market has been divided into Cargo and Passenger. The Cargo segment is anticipated to dominate the market.

Regional Analysis

The Advanced Aerial Mobility Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America leads the AAM market. The United States, in particular, has demonstrated strong support for AAM technologies, with major aerospace companies like Boeing and Joby Aviation spearheading developments. Government agencies, including the Federal Aviation Administration (FAA), are actively working on certifications and regulations to facilitate the integration of eVTOL (electric Vertical Take-Off and Landing) aircraft into national airspace. Europe is also a leading region in the AAM market. Countries like Germany, France, and the UK at the forefront of adopting AAM solutions, especially in eVTOL technology. The European Union Aviation Safety Agency (EASA) is actively developing regulatory frameworks to ensure the safe integration of AAM systems into European airspace. The Asia-Pacific region is projected to be the fastest-growing AAM market. Countries like China, Japan, and South Korea are heavily investing in AAM technologies to address increasing urbanization and the demand for advanced transportation solutions.  The Middle East & Africa region holds a smaller share of the AAM market, around 10%, but interest is growing. Countries like the United Arab Emirates (UAE) and Saudi Arabia are exploring air mobility projects as part of broader efforts to diversify their economies and invest in cutting-edge technologies.