Advanced Air Mobility refers to new-age technologies which focuses on how to transform air-based travel and goods transport across the globe. As air mobility is one of the key reasons for the carbon emissions, the companies in the sector are extensively investing towards the adoption of electric based air mobility solutions in order to enhance the efforts towards carbon-neutrality of the countries. Various type of aircraft as Electric vertically take-off and landing vehicles, electric and hybrid aircraft, urban air mobility, and Unmanned aerial aircraft are among the prominent category of vehicles used for advanced air mobility solutions.
According to the UnivDatos Market Insights Analysis, growing demand for urban mobility will drive the growth scenario of Advanced Air Mobility and as per their “Advanced Air Mobility Market” report, the global market was valued at USD 7960 million in 2023, growing at a CAGR of 23.44% during the forecast period from 2024 - 2032.
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Rising Demand of Air Taxis from Emerging Economies:
· The demand for air taxis in the emerging regions as Asia Pacific, the Middle East. South America, etc., has extensively grown. With the rise of major cities and high population growth the traffic congestions in the respective countries have extensively increased. With the rampant traffic congestion in many of the fast-growing cities the demand for the air taxis has extensively emerged.
· For instance, in 2017, Ras Al Khaimah Tourism Authority (RAKTA) signed an agreement with Skyports to develop a network of vertiport for initiating air taxi by the year 2027.
· IN another instance, in 2024, Saudi Arabia’s General Authority for Civil Aviation (GACA) announced that it has started air taxis during Hajj season.
· Japan has also planned to initiate air taxi services. Jal Airlines announced to commercialize AIRTAXI in the fiscal year 2025. The respective services will include electric vertical take-off and landing aircraft.
Additionally, a large number of orders for commercial aircraft in the region is also experienced, further bolstering the uptick in the demand for Advanced Air Mobility market. In 2023, Interglobal Aviation (Indigo) announced to purchase of 500 Airbus A320 aircraft with a total cost of USD 55 billion.
In another instance, Air India announced its finalization of the order of a total number of 470 aircraft including 250 airplanes from Airbus and 220 from Boeing. The respective order includes about 400 narrowbody and 70 widebody jets. With a total cost of USD 70 billion, the order is estimated to be executed in the forthcoming years.
With the high purchase of commercial jets from the developing regions, the demand for Advanced Air Mobility the demand for air taxis would significantly rise. Additionally, the rising fleet of commercial aircraft in the region would also lead to an increased demand for Advanced Air Mobility. Considering these factors the Global Advanced Air Mobility market is anticipated to rise during 2024-2032.
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Rising Urbanization to Promote the Demand:
Rising Urbanization across the globe has led to greater need to improve mobility and find alternative means to traffic solutions. As the populations in the major cities is increasing the traffic load on the existing land-based infrastructure is massively increasing. Considering these changes the demand for an alternative mode of transport air mobility solutions have witnessed an increasingly high growth. As for intercity travel as well as induced requirement for air ambulance services, sending cargo transport, etc., advanced air mobility market.
The development of aircraft with the electric take-off and landing capability has made air mobility much easier. Additionally, the integration of electric power has provided multiple advantages such as less noise for city operations, environment-friendly operations and lower-cost operations. Considering these key benefits the usage of advanced air mobility solutions is further anticipated to witness growth during 2024-2032.
According to Rolls Royce around 15,000 EVTOLs will be needed across 30 major cities by the year 2035. It would also require the addition of 2,500 vertiport where aircraft can be fully charged.
Considering the upsurge in the demand for the EVTOLs for alleviating the city traffic congestions and growing urbanization the demand for advanced air mobility solutions across the globe would noticeably surge during 2024-2032.
Conclusion:
The Global Advanced Air Mobility market is experiencing a transformative phase driven by technological advancements, sustainable airline operations, digitalization, market dynamics, and implementation of government policies. Stakeholders across the industry are embracing these trends to enhance operational efficiency, etc.
