North America Advanced Air Mobility Market

Historic Data: 2020-2021   |   Base Year: 2022   |   Forecast Period: 2023-2030

Analysis - by Component (Hardware and Software), Operation Mode (Piloted and Autonomous), Propulsion Type (Fully Electric and Hybrid), and End Use (Passenger and Cargo)


No. of Pages: 87    |    Report Code: BMIRE00029844    |    Category: Aerospace and Defense

North America Advanced Air Mobility Market
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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; it is estimated to grow at a CAGR of 50.5% from 2022 to 2030.

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. 

  

 

 


North America Advanced Air Mobility Strategic Insights

Strategic insights for the North America Advanced Air Mobility provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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North America Advanced Air Mobility Report Scope

Report Attribute Details
Market size in 2022 US$ 192.83 Million
Market Size by 2030 US$ 5,065.01 Million
Global CAGR (2022 - 2030) 50.5%
Historical Data 2020-2021
Forecast period 2023-2030
Segments Covered By Component
  • Hardware
  • Software
By Operation Mode
  • Piloted
  • Autonomous
By Propulsion Type
  • Fully Electric
  • Hybrid
By End Use
  • Passenger
  • Cargo
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Market leaders and key company profiles
  • Airbus SE
  • Archer Aviation Inc
  • Bell Textron Inc
  • EHang Holdings Ltd
  • Elbit Systems Ltd
  • Embraer SA
  • Joby Aviation Inc
  • The Boeing Co
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    North America Advanced Air Mobility Regional Insights

    The geographic scope of the North America Advanced Air Mobility refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    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

     

    Frequently Asked Questions
    How big is the North America Advanced Air Mobility Market?

    The North America Advanced Air Mobility Market is valued at US$ 192.83 Million in 2022, it is projected to reach US$ 5,065.01 Million by 2030.

    What is the CAGR for North America Advanced Air Mobility Market by (2022 - 2030)?

    As per our report North America Advanced Air Mobility Market, the market size is valued at US$ 192.83 Million in 2022, projecting it to reach US$ 5,065.01 Million by 2030. This translates to a CAGR of approximately 50.5% during the forecast period.

    What segments are covered in this report?

    The North America Advanced Air Mobility Market report typically cover these key segments-

    • Component (Hardware, Software)
    • Operation Mode (Piloted, Autonomous)
    • Propulsion Type (Fully Electric, Hybrid)
    • End Use (Passenger, Cargo)

    What is the historic period, base year, and forecast period taken for North America Advanced Air Mobility Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Advanced Air Mobility Market report:

  • Historic Period : 2020-2021
  • Base Year : 2022
  • Forecast Period : 2023-2030
  • Who are the major players in North America Advanced Air Mobility Market?

    The North America Advanced Air Mobility Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • Airbus SE
  • Archer Aviation Inc
  • Bell Textron Inc
  • EHang Holdings Ltd
  • Elbit Systems Ltd
  • Embraer SA
  • Joby Aviation Inc
  • The Boeing Co
  • Who should buy this report?

    The North America Advanced Air Mobility Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the North America Advanced Air Mobility Market value chain can benefit from the information contained in a comprehensive market report.

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