Due to the increasing urban population and rising road traffic in many cities, the demand for urban air mobility solutions is increasing at a rapid rate across the world. In many cities around the world, there has been a massive surge in road congestion over the last few years and this has significantly affected the economic activities in the cities. For instance, in the U.S., the average time spent by people in traffic jams each year is 90 hours, which massively increases their commuting expenditure by more than $1,000.
It is highly unlikely that the traffic on roads will lessen, however, the need for dealing with this problem is quite urgent. One of the solutions for curbing road congestion in urban cities can be to make use of autonomous aerial mobility. Due to technological advancements, urban air mobility (UAM), which refers to on-demand, highly automated services for passengers or cargo-carrying applications, has emerged as the latest trend in the transportation sector. The technology can potentially aid in avoiding congestion in cities across the globe.
The other major factor responsible for the increasing demand for urban air mobility solutions is the rising incidence of road accidents throughout the world, especially in the developing nations such as India, China, and Indonesia because of the soaring population levels in these countries. Powered by these factors, the global urban air mobility (UAM) market is predicted to exhibit a CAGR of 33.9% during the forecast period (2023–2030). At this, the value of the market is predicted to rise from $895.0 million in 2023 to $6,889.4 million by 2030. Such services are offered by light manned or unmanned aircraft, flying at low altitudes.
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In the coming years, North America is expected to emerge as the largest urban air mobility market in throughout the time period 2023–2030. This is due to the fact that major cities in the U.S. are registering high traffic congestion, which, in turn, would result in the rapid adoption of airport shuttle and taxi services. Apart from this, the demand for UAM services is also predicted to rise considerably in Europe in the coming years, which is ascribed to the heavy investments in the domain by France and Germany for procuring the eVTOL technology for commercial applications.
In conclusion, the surging road congestion is driving the demand for UAM services.
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