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North America Advanced Air Mobility Market Forecast to 2030
North America Advanced Air Mobility Market Forecast to 2030 – Regional Analysis – by Component (Hardware and Software), Operation Mode (Piloted and Autonomous), Propulsion Type (Fully Electric and Hybrid), and End Use (Passenger and Cargo)
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Description
Embracing Air Taxis Owing to the Advancement of Urban Air Mobility Fuels North America Advanced Air Mobility Market
Technological advancements, UAMs usage in different civil and commercial applications, and considerable investments in emerging nations fuel the urban air mobility industry. Several cities are expected to adopt the new generation of transportation using eVTOL aircraft due to recent technological breakthroughs in urban air mobility. The eVTOL aircraft are most suitable for shorter trips across congested cities to avoid traffic. The aircraft also helps with middle-mile and last-mile cargo delivery and medical services. Therefore, the adoption of air taxis is growing. The air taxis used for urban air mobility are mostly electric-powered. Hence, they do not cause atmospheric pollution. The urban air mobility industry is at an early stage, which is expected to drive the adoption of air taxis in the coming years. In the first quarter of 2020, Toyota invested US$ 394 million in Joby Aviation eVTOL Aircraft. This comes as an additional step toward co-creating an urban air mobility ecosystem in the country. In January 2022, Boeing made an investment worth US$ 450 million in Wisk Aero to support the development of future pilotless flying taxis. Further, Joby Aviation is planning to achieve certification for its aircraft from the Federal Aviation Administration (FAA) along with its plan to launch commercial operations and passenger service by 2024.
The favorable government initiatives from leading countries and a growing number of startups entering the market fuel the adoption of air taxis. The funding aims to accelerate the adoption of urban air mobility transportation, which consists of drones, eVTOL aircraft, and alternative propulsion systems. According to the FAA, the US is engaged with more than 15 eVTOL aircraft manufacturers. Uber Air, EHang, Volocopter, Joby, and Lilium are among those who have forefront their intent to launch commercial passenger operations within the next three to five years. Thus, upcoming developments and initiatives from leading countries for incorporating the adoption of air taxis would strengthen the demand for urban air mobility, which is expected to provide lucrative opportunities for advanced air mobility market growth during the forecast period.
North America Advanced Air Mobility Market Overview
Geographic diversification across different North American countries and the presence of major aircraft manufacturers, such as Bell Textron Inc., Joby Aviation, and Kitty Hawk, are the major factors driving the sales of eVTOL aircraft in North America. The US Air Force had officially introduced its Agility Prime initiative to accelerate the growth of eVTOL technology. The growing competition in the market is mainly focusing on to achieve the US Federal Aviation Administration aircraft certification and enter commercial service. In April 2022, Jaunt Air Mobility attracted two new private investors to help fund its plans to bring a four-passenger eVTOL aircraft to commercialize in 2026. Thus, such developments in eVTOL aircraft are fueling the market growth of advanced air mobility in North America.
The growing demand for advanced air mobility vehicles from the rest of the world is primarily attributed to the rise in demand for zero-emission aircraft, the increase in demand for last-mile delivery, and the rise in the trend of adopting eVTOL aircraft, air taxis and unmanned small cargo drones. Thus, such factors are holding potential demand for advanced air mobility, which will further propel the market growth.
North America Advanced Air Mobility Market Revenue and Forecast to 2030 (US$ Million)
North America Advanced Air Mobility Market Segmentation
The North America advanced air mobility market is segmented based on component, operation mode, propulsion type, end-use, and country.
Based on component, the North America advanced air mobility market is bifurcated into hardware and software. The hardware segment held a larger North America advanced air mobility market share in 2022.
In terms of operation mode, the North America advanced air mobility market is bifurcated into piloted and autonomous. The piloted segment held a larger North America advanced air mobility market share in 2022.
By end-use, the North America advanced air mobility market is segmented into passenger and cargo. The cargo segment held a larger North America advanced air mobility market share in 2022.
By propulsion type, the North America advanced air mobility market is segmented into fully electric and hybrid. The fully electric segment held a larger North America advanced air mobility market share in 2022.
Based on country, the North America advanced air mobility market is categorized into the US, Canada, and Mexico. The US dominated the North America advanced air mobility market in 2022.
Airbus SE, EHang Holdings Ltd, Bell Textron Inc, The Boeing Co, Embraer SA, Elbit Systems Ltd, Joby Aviation Inc, and Archer Aviation Inc are some of the leading companies operating in the North America advanced air mobility market.
Summary Info
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According to the Research Team’ research, the North America advanced air mobility market was valued at US$ 192.83 million in 2022 and is expected to reach US$ 5,065.01 million by 2030, registering a CAGR of 50.5% from 2022 to 2030. Evolving necessity for green energy-based mode of transportation and advancement of electric propulsion-based eVTOL aircraft are among the critical factors attributed to the North America advanced air mobility market expansion.
The rising emission from transportation is polluting the environmental ecosystem, which creates the demand for alternative transportation means. Electric aircraft and flying taxis are among the most preferred alternatives for environment protection. Also, the vehicle could be designed as per different weather conditions. Therefore, the aviation market will witness a new era of electrified and hybrid aircraft propulsion in the coming years. Urban air mobility is increasingly seen as the future for rapid, sustainable, and affordable intercity travel. Some market players plan to launch their services by the end of 2023 and the beginning of 2024.
As battery technology improves, air taxis and other eVTOL vehicles will become sustainable options and fly for longer ranges and at higher speeds. At present, eVTOL aircraft run purely on batteries, which are clean, silent, and efficient power sources. Further, charging batteries using renewable energy sources will help the environment progress toward the goals of achieving zero emissions and keeping global temperatures within the emission standards. Several companies work on technologies that can provide higher energy and power density than the present lithium-ion batteries. A few companies work on lithium-sulfur (Li-S) battery technology. OXIS Energy has already achieved 450wh/kg at the cell level and expects to achieve 600wh/kg by 2025. Another emerging technology is the solid-state battery. In lithium-ion batteries, the liquid electrolyte is replaced with a solid electrolyte. This battery type is reported to be safer, offers a long life cycle, and has a faster recharge time. A glass solid-state battery can have three times higher energy density than lithium-ion. However, these batteries are still in the research stage at the cell level.
Low noise emissions are one of the key enablers for the entire advanced air mobility industry. Low noise is crucial to community acceptance and access spots in urban environments where take-off and land are expected. Thus, Lilium, a leading eVTOL manufacturer, uses ducted electric vectored thrust (DEVT) technology. The jets have ducted fan engines powered by electric motors. Acoustic liners around the fans capture and dissipate much of the noise. The test conducted showed that the perceived noise level of the jet had reduced to a great extent. Thus, the emerging trend for adopting green energy-based transportation and its associated advantages are anticipated to create a demand for advanced air mobility in the coming years.
The eVTOL aircraft and unmanned small drones could become the future of passenger travel, military and defense applications, and freight and package transportation. Thus, the growing preference for an alternative transportation mode for mitigating carbon emission and adoption of more sustainable ecofriendly alternatives is expected to bolster the advanced air mobility market in the coming years.
On the contrary, required certification and qualification challenges for market vendors hampers the growth North America advanced air mobility market.
Based on component, the North America advanced air mobility market is bifurcated into hardware and software. The hardware segment held 78.1% share of the North America advanced air mobility market in 2022, amassing US$ 150.66 million. It is projected to garner US$ 3,829.72 million by 2030 to expand at 49.8% CAGR during 2022-2030.
In terms of operation mode, the North America advanced air mobility market is bifurcated into piloted and autonomous. The piloted segment held 100.0% share of the North America advanced air mobility market in 2022, amassing US$ 192.83 million. It is projected to garner US$ 4,886.48 million by 2030 to expand at 49.8% CAGR during 2022-2030.
By end use, the North America advanced air mobility market is segmented into passenger and cargo. The cargo segment held 100.0% share of North America advanced air mobility market in 2022, amassing US$ 192.83 million. It is projected to garner US$ 1,732.97 million by 2030 to expand at 31.6% CAGR during 2022-2030.
By propulsion type, the North America advanced air mobility market is segmented into fully electric and hybrid. The fully electric segment held 100.0% share of North America advanced air mobility market in 2022, amassing US$ 192.83 million. It is projected to garner US$ 4,974.45 million by 2030 to expand at 50.1% CAGR during 2022-2030.
Based on country, the North America advanced air mobility market is categorized into the US, Canada, and Mexico. The US held 85.2% share of North America advanced air mobility market in 2022, amassing US$ 164.24 million. It is projected to garner US$ 4,452.15 million by 2030 to expand at 51.1% CAGR during 2022-2030.
Key players operating in the North America advanced air mobility market are Airbus SE, EHang Holdings Ltd, Bell Textron Inc, The Boeing Co, Embraer SA, Elbit Systems Ltd, Joby Aviation Inc, and Archer Aviation Inc, among others.
In 2019, Boeing and Porsche have signed a memorandum of understanding (MOU) to look into the “premium” electric vertical takeoff & landing (eVTOL) aircraft market. With this partnership, both companies will leverage their unique market strengths and insights to study the future of premium personal urban air mobility vehicles.
In 2022, Wisk, the eVTOL developer and advanced air mobility (AAM) company, has received $450 million in funding from The Boeing Company. In addition to supporting development of Wisk’s 6th-generation eVTOL aircraft, the investment from Boeing will contribute to Wisk’s preparations for launching scale manufacturing and go-to-market operations of eVTOL aircraft.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in North America advance air mobility market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the advance air mobility market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Advanced Air Mobility Market Landscape
4.1 Overview
4.2 Porter’s Analysis
4.3 Ecosystem Analysis
5. North America Advanced Air Mobility Market – Key Industry Dynamics
5.1 Advanced Air Mobility Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Embracing Air Taxis Owing to the Advancement of Urban Air Mobility
5.2.2 Growing advent of small unmanned systems for cargo deliveries
5.2.3 Advancement of Electric Propulsion-Based eVTOL Aircraft
5.3 Market Restraints
5.3.1 Required Certification and Qualification Challenges for Market Vendors
5.4 Market Opportunities
5.4.1 Rising Construction of Vertiports
5.4.2 Demand for Last-Mile Delivery
5.5 Future Trends
5.5.1 Evolving Necessity for Green Energy-Based Mode of Transportation
5.6 Impact of Drivers and Restraints:
6. Advanced Air Mobility Market – North America Market Analysis
6.1 North America Advanced Air Mobility Market Revenue (US$ Million), 2022 – 2030
6.2 North America Advanced Air Mobility Market Forecast and Analysis
7. North America Advanced Air Mobility Market Analysis -By Component
7.1 Overview
7.1.1 North America Advanced Air Mobility Market, By Component (2022 and 2030)
7.2 Hardware
7.2.1 Overview
7.2.2 Hardware: North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Software
7.3.1 Overview
7.3.2 Software: North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
8. North America Advanced Air Mobility Market Analysis – Operation Mode
8.1 Overview
8.1.1 North America Advanced Air Mobility Market, By Operation Mode (2022 and 2030)
8.2 Piloted
8.2.1 Overview
8.2.2 Piloted: North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Autonomous
8.3.1 Overview
8.3.2 Autonomous : North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
9. North America Advanced Air Mobility Market Analysis – By End Use
9.1 Overview
9.1.1 North America Advanced Air Mobility Market, By End Use (2022 and 2030)
9.2 Passenger
9.2.1 Overview
9.2.2 Passenger: North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Cargo
9.3.1 Overview
9.3.2 Cargo : North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
10. North America Advanced Air Mobility Market Analysis – by Propulsion Type
10.1 Overview
10.1.1 North America Advanced Air Mobility Market, By Propulsion Type (2022 and 2030)
10.2 Fully Electric
10.2.1 Overview
10.2.2 Fully Electric : North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
10.3 Hybrid
10.3.1 Overview
10.3.2 Hybrid: North America Advanced Air Mobility Market, Revenue and Forecast to 2030 (US$ Million)
11. North America Advanced Air Mobility Market – Country Analysis
11.1 North America
11.1.1 North America Advanced Air Mobility Market Overview
11.1.2 North America Advanced Air Mobility Market Revenue and Forecasts and Analysis – By Country
11.1.2.1 US Advanced Air Mobility Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.1.1 US Advanced Air Mobility Market Breakdown by Component
11.1.2.1.2 US Advanced Air Mobility Market Breakdown by Operation Mode
11.1.2.1.3 US Advanced Air Mobility Market Breakdown by End Use
11.1.2.1.4 US Advanced Air Mobility Market Breakdown by Propulsion Type
11.1.2.2 Canada Advanced Air Mobility Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.2.1 Canada Advanced Air Mobility Market Breakdown by Component
11.1.2.2.2 Canada Advanced Air Mobility Market Breakdown by Operation Mode
11.1.2.2.3 Canada Advanced Air Mobility Market Breakdown by End Use
11.1.2.2.4 Canada Advanced Air Mobility Market Breakdown by Propulsion Type
11.1.2.3 Mexico Advanced Air Mobility Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.3.1 Mexico Advanced Air Mobility Market Breakdown by Component
11.1.2.3.2 Mexico Advanced Air Mobility Market Breakdown by Operation Mode
11.1.2.3.3 Mexico Advanced Air Mobility Market Breakdown by End Use
11.1.2.3.4 Mexico Advanced Air Mobility Market Breakdown by Propulsion Type
12. Industry Landscape
12.1 Overview
12.1.1 Market Initiative
12.1.2 New Product Development
12.1.3 Merger and Acquisition
13. Company Profiles
13.1 Airbus SE
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 EHang Holdings Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Bell Textron Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 The Boeing Co
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Embraer SA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Elbit Systems Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Joby Aviation Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Archer Aviation Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About the Research Team
LIST OF TABLES
Table 1. North America Advanced Air Mobility Market Segmentation
Table 2. North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million) – Component
Table 4. North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million) – Operation Mode
Table 5. North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million) – by End Use
Table 6. North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million) – Propulsion Type
Table 7. US Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 8. US Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Operation Mode
Table 9. US Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 10. US Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Propulsion Type
Table 11. Canada Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 12. Canada Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Operation Mode
Table 13. Canada Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 14. Canada Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Propulsion Type
Table 15. Mexico Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 16. Mexico Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Operation Mode
Table 17. Mexico Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 18. Mexico Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn) – By Propulsion Type
LIST OF FIGURES
Figure 1. North America Advanced Air Mobility Market Segmentation, By Country
Figure 2. Porter’s Analysis
Figure 3. Ecosystem: Advanced Air Mobility Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. North America Advanced Air Mobility Market Revenue (US$ Million), 2022 – 2030
Figure 6. North America Advanced Air Mobility Market Share (%) – Component, 2022 and 2030
Figure 7. Hardware: North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Software: North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. North America Advanced Air Mobility Market Share (%) – Operation Mode, 2022 and 2030
Figure 10. Piloted: North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Autonomous : North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. North America Advanced Air Mobility Market Share (%) – End Use, 2022 and 2030
Figure 13. Passenger : North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Cargo: North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. North America Advanced Air Mobility Market Share (%) – Propulsion Type, 2022 and 2030
Figure 16. Fully Electric : North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Hybrid : North America Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. North America Advanced Air Mobility Market Revenue, by Country (2022 and 2030)
Figure 19. North America Advanced Air Mobility Market Breakdown by Country (2022 and 2030)
Figure 20. US Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Canada Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. Mexico Advanced Air Mobility Market Revenue and Forecasts To 2030 (US$ Mn)
The List of Companies – North America Advanced Air Mobility Market
1. Airbus SE
2. Archer Aviation Inc
3. Bell Textron Inc
4. EHang Holdings Ltd
5. Elbit Systems Ltd
6. Embraer SA
7. Joby Aviation Inc
8. The Boeing Co
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