Market Size of Urban Air Mobility Industry
| Study Period | 2019 - 2036 |
| Market Size (2024) | USD 3.60 Billion |
| Market Size (2036) | USD 45.40 Billion |
| CAGR (2024 - 2036) | 23.54 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Urban Air Mobility (UAM) Market Analysis
The Urban Air Mobility Market size is estimated at USD 3.60 billion in 2024, and is expected to reach USD 45.40 billion by 2036, growing at a CAGR of 23.54% during the forecast period (2024-2036).
The COVID-19 pandemic has had an unprecedented impact on all industries globally. The aviation sector has been severely affected by the pandemic. Since most of the major urban air mobility (UAM) sector players are directly or indirectly related to the aviation sector, the pandemic has had a ripple effect on the UAM sector. Before the COVID-19 outbreak, the UAM sector, which was still in its formative stages, witnessed healthy growth with a healthy pace of development and high investments. However, the COVID-19 pandemic caused delays and affected project launches scheduled in the short term in 2020. Nevertheless, the delays were witnessed only for the short term and did not jeopardize the general deployment of UAM.
The growing traffic congestion issues, especially in larger cities, are propelling the need for faster modes of intracity transportation. In this regard, the urban air mobility concept is gaining importance. There are many R&D investments in the urban air mobility industry, with many start-ups and aerospace players eyeing this market as one with high growth potential. Therefore, such factors are expected to drive the market's growth focus during the forecast period.
