Top Companies in Advanced Air Mobility Market: Predictions till 2034

Advanced Air Mobility is an air transportation system that transports people and property between sites by utilizing aircraft such as remotely piloted, autonomous, or vertical take-off and landing aircraft. This includes airplanes powered by electric or hybrid-electric propulsion in both regulated and uncontrolled airspace. The Platform intends to integrate unmanned aerial systems (UAS) and sustainable aircraft, such as electric vertical take-off and landing (eVTOLs), into nations' sovereign airspaces worldwide. This involves the development of vertiport physical infrastructure as well as the advancement of the digital architecture of a highly automated operational framework known as UAS Traffic Management.

The advanced air mobility market is gaining traction, with consumers generally ready to use services. Cost is the main factor for winning market share in the cargo delivery drone market, with the brand being less important than price and speed. Convenience products like groceries and prepared food are the most promising use cases for instant drone delivery. Education and outreach are crucial to address these issues. The market shows strong potential, but providers must consider consumer preferences, pricing, speed, use cases, and public perception challenges. Innovations in electrical propulsion systems and vertical takeoffs are expected to fuel market expansion. The advanced air mobility industry's incorporation of contemporary equipment, such as Internet of Things devices, and technical advancements are expected to fuel market expansion. However, high development costs associated with these technologies may hamper target market growth.

Industry Stats

According to the research report, the global advanced air mobility market size was valued at US$ 11.8 billion in 2024 and is expected to grow at a CAGR of 23.3% to reach US$ 79.7 billion by 2034.

The technology aims to provide more efficient, sustainable, and accessible air transportation options compared to traditional aviation. Key uses include passenger transportation, cargo delivery, public services, private/recreational vehicles, and military/defense applications. Key enablers include advancements in electric and hybrid-electric propulsion, autonomous controls, noise reduction, and infrastructure development. Advanced air mobility also offers last-mile delivery of packages in urban areas, firefighting, power line inspection, and vaccine/medical supply delivery.

Advanced Air Mobility offers several benefits, including reduced congestion, environmental sustainability, improved connectivity, enhanced safety, expanded access, and economic growth. Advanced air mobility vehicles use electric propulsion systems, reducing emissions and contributing to climate change. They also improve connectivity, especially in areas with limited infrastructure, enabling faster travel between cities and regions. Autonomous flight systems in advanced air mobility vehicles reduce human error risk, incorporating advanced collision avoidance technologies and real-time monitoring. Advanced air mobility can also provide transportation services to underserved areas, enabling access to urban core for a wider range of people and businesses. The development and deployment of advanced air mobility can create new job opportunities and economic growth in aviation, technology, and infrastructure sectors.

Top Companies in Advanced Air Mobility Market

  • 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

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It also faces several challenges, including safety and regulatory issues, environmental impacts, social acceptance and equity, technological limitations, and economic viability. These include ensuring the safe integration of AAM vehicles into existing airspace, managing air traffic, constructing infrastructure for multimodal integration, addressing noise concerns, ensuring environmental sustainability, and addressing public concerns about safety, noise, and visual pollution. Additionally, overcoming technical challenges related to battery life, range, and payload capacity is crucial for the reliability and resilience of autonomous flight systems. Economic viability involves achieving cost-effective operations and addressing potential job displacement and workforce transition challenges. Addressing these challenges is essential for the successful and sustainable deployment of AAM systems.

Advanced Air Mobility is expected to experience significant growth and become mainstream in future years. Key advancements in electric and hybrid-electric propulsion, autonomous controls, sensors, and other critical technologies are driving the development of new aircraft designs like eVTOL vehicles. Market and industry both, promises to revolutionize transportation by providing faster, more efficient, and sustainable air mobility options, reducing urban congestion, improving accessibility in underserved areas, and enabling new applications like medical transport and cargo delivery. However, overcoming regulatory hurdles and developing necessary infrastructure will be crucial. The industry will create new job opportunities but also requires training and upskilling the future aviation workforce to support emerging technologies.

The market includes eVTOLs, air taxis, and passenger drones for urban air mobility. These vehicles use electric, hybrid, and hydrogen-based propulsion technologies for sustainable aerial transportation. Vertiports integrate these vehicles into transportation networks, and advanced avionics enhance safety.