![]() On this note, in September 2021, EHang signed a strategic partnership with Shenzhen East General Aviation (Heli-Eastern), a helicopter service provider to explore and implement UAM operations in the designated integrated airspace for helicopters and AAVs in Shenzhen, China. Such plans of the governments to introduce UAM transportation are supporting the companies investing in the technology. The government also plans to roll out larger-scale air mobility operations for Osaka-Kansai Japan World Expo in 2025. The government of Japan aims to introduce the operations of passenger drones, flying cars, and other advanced aviation vehicles (AAV) by 2023. For instance, in June 2021, the Ministry of Land, Infrastructure, Transport, and Tourism in Japan announced the formation of the Next Generation Aviation Mobility Planning Office that will handle regulations and issues surrounding aviation mobility. Various countries like China, Japan, and South Korea, among others have been robustly investing in the development of UAM ecosystems in the region in the coming years with the governments. The Asia-Pacific is fast emerging as a key source of momentum for the UAM sector as several cities in the region are expected to be early adopters of UAM technology due to the prevalence of several regional companies in the sector. In this regard, many companies are investing significantly in this industry, which is expected to boost the technological advancements in the market in the long run, after the UAM systems enter the commercial usage phase.Īsia-Pacific Region is Expected to Witness Highest Growth During the Forecast Period Hence, they help in reducing atmospheric pollution. Moreover, air taxis used for the UAM are mostly electric powered or fuel-cell powered. As the UAM is a safe and efficient air transportation system where the passenger-carrying air taxis are operating above populated areas, there may be significant time savings. With traffic congestion and urban road mobility posing a great challenge, governments and technology companies have started to look at UAM as a viable option for passenger and cargo transport. Additionally, growing on-road passenger vehicle volumes, which burn fossil fuels, are also polluting the environment considerably. This is not only wasting the time of citizens but also challenging the governments. The existing road systems in most countries cannot handle the peak-hour loads without forcing the commuters to wait in line. Especially at certain peak hours, the increasing amount of traffic on the roads significantly increased the commuter’s time taken to travel by roads. As a result, the number of on-road passenger vehicles in urban areas is increasing every year, due to which the traffic congestion problems are also growing. The urban population across the world is growing at a rapid pace. Need for Faster and Cleaner Urban Transportation is Driving Investments in the Market Therefore, such factors are expected to drive the growth of the market in focus during the forecast period. 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 a high growth potential. In this regard, the urban air mobility concept is gaining importance. The growing traffic congestion issues, especially in larger cities, globally, are propelling the need for faster modes of intracity transportation. Nevertheless, the delays were witnessed only for the short term and did not jeopardize the general deployment of UAM. However, the COVID-19 pandemic caused delays and affected project launches scheduled in the short term in 2020. ![]() Prior to the COVID-19 outbreak, the UAM sector, which is still in its formative stages, witnessed healthy growth with a healthy pace of developments and high investments. The aviation sector has been severely affected by the pandemic, and since most of the major players of the Urban Air Mobility (UAM) sector are directly or indirectly related to the aviation sector, the pandemic has had a ripple effect on the UAM sector. New York, J(GLOBE NEWSWIRE) - announces the release of the report "Urban Air Mobility (UAM) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2035)". The COVID-19 pandemic has had an unprecedented impact on all industries on a global scale. 71 million by 2035, registering a CAGR of 17. The urban air mobility market is projected to grow to USD 17,269. ![]()
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