Global and Asia-Pacific Advanced Air Mobility (AAM) Market Set to Reach $20.37 Billion by 2035 – BIS Research

Market Overview 

Market Size and Growth Rate 

The global AAM market, valued at $2.31 billion in 2023, is forecasted to reach $20.37 billion by 2035, growing at a CAGR of 19.88% over the forecast period. 

Trends and Innovations 

The industry is rapidly evolving with the development of electric vertical take-off and landing (eVTOL) aircraft, enhanced battery efficiency, and infrastructure initiatives. Governments and private firms are investing heavily to establish safe and efficient air corridors for urban and regional AAM solutions. 

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Key Highlights 

Report USP 

Data exclusivity emphasizes competitive benchmarking, regional insights, and in-depth trend analysis, delivering a holistic view of the AAM sector’s growth potential and challenges. 

In-Depth Analysis 

This report provides a comprehensive analysis of AAM solutions' potential in urban transport, assessing the role of eVTOLs and the infrastructure needed to support them. 

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Demand Drivers, Challenges, and Opportunities 

Demand Drivers 

The AAM market benefits from increased urbanization and the need for efficient intra- and inter-city travel solutions. Technological advancements in battery capabilities and autonomous systems are crucial factors driving the sector's growth. Additionally, growing environmental concerns are pushing the shift from traditional aviation to electric-powered air mobility, aligning with the global push toward zero-emission transportation. Enhanced connectivity through AAM is expected to reduce congestion in densely populated urban areas, providing quicker, cleaner transport options. 

Challenges 

Challenges include high infrastructure costs, regulatory hurdles, and the complexity of air traffic integration. Establishing public trust and addressing safety concerns are also critical for large-scale adoption. Moreover, AAM developers face the challenge of standardizing regulations across regions, which can delay deployment. Integrating AAM with existing transportation systems requires coordination with various agencies, adding another layer of complexity to achieving seamless operations. 

Opportunities 

Significant opportunities exist in the form of government-backed R&D funding, partnerships for developing air infrastructure, and initiatives aimed at reducing carbon emissions. Emerging markets in Asia-Pacific are showing strong interest in investing in AAM solutions for improved mobility and sustainability. Collaborations with city planners and tech firms open doors for building the necessary infrastructure, such as vertiports and charging stations. Additionally, the rising demand for faster logistics solutions presents a promising opportunity for AAM applications in cargo and last-mile delivery services. 

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Market Segmentation 

Segmentation 1: Design based segmentation 

•    Lift and Cruise 

•    Tiltrotor 

•    Multicopter 

•    Ducted Vector 

Segmentation 2: Component based segmentation 

•    Hardware 

•    Software 

Segmentation 3: Energy Source based segmentation 

•    Electric Propulsion 

•    Hybrid Propulsion 

•    Hydrogen Propulsion 

Segmentation 4: Range based segmentation 

•    <20 Km 

•    21-100 Km 

•    101-400 Km 

•    >400 Km 

Segmentation 5: Platform Development based segmentation 

•    Delivery Drones 

•    eVTOLs 

Segmentation 6: Region based segmentation 

•    North America, Europe, and Rest-of-the-World 

•    Asia-Pacific 

Competitive Landscape 

Key Players 

•    Joby Aviation 

•    Beta Technologies 

•    Wisk Aero LLC. 

•    Lilium  

•    Volocopter 

•    Archer 

•    EHang  

•    Ascendance Flight Technologies 

•    Eve Holding, Inc. 

•    AURA Network Systems, Inc. 

•    XTI Aircraft Company 

•    Urban Aeronautics 

•    Airspace Experience Technologies, Inc. 

Strategic Initiatives 

Companies are forming alliances, advancing R&D, and developing pilot programs to test and refine AAM solutions for safer, more efficient deployment. 

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About BIS Research 

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