The urban air mobility market depends on various stakeholders and component providers in the market such as battery providers, airframe manufacturers, carbon fiber composites providers, and many others. The infrastructure such as vertiports is developed by service providers, such as Varon Vehicles in Latin America, and Skyports in Asia-Pacific.
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The anticipated urban air mobility market will require better infrastructure and technology to cater to the demands of the market. The market is expected to grow rapidly with the innovation of electric aircraft that offer longer endurance and higher payload capacity. The new emerging players, as well as the existing companies, are developing next-generation vertical take-off and landing solutions that could benefit from this untapped market potential.
The increase in traffic congestion and rapid growth of urbanization are the significant challenges faced by some of the mobility industry in the world today, and innovative solutions in urban mobility are important for a sustainable future. There are several new mobility initiatives such as automotive transportation-as-a-service, high-speed train concepts such as hyperloop, autonomous cars, and aerial transportation. Depending on the destination, travel distance, location of transportation, and duration of the journey, a passenger can select various modes of transportation. The concept of urban air mobility (UAM) was first realized in Sao Paulo, Brazil, where air mobility was provided by helicopters, The UAM adoption level in Brazil was higher than in Tokyo and New York City together.
The air mobility has come a long way in both manned and unmanned transportation services. The air transportation systems for urban regions are developed in response to the increased traffic congestions, and aerial vehicles are best suited for megacities for commercial applications compared to highspeed trains or other forms of transportation. With the help of UAM, urban transportation of various commodities and logistics can be completed at a much lesser time compared to conventional cargo delivery. The UAM market can cater to various applications and end-use industries such as passenger transportation, cargo, and logistics transportation, including last-mile delivery, Emergency and Medical Aid transportation, and food delivery, The UAM industry cannot depend on platforms such as drones and aircraft alone, and they require additional components for smooth operations. Thus, the platforms and infrastructure that include unmanned aircraft system traffic management (UTM), vertiports, and charging stations, combined together, make up the UAM ecosystem.
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The increasing interest of emerging start-ups in developing aerial vehicles for the U.S. urban air mobility market is expected to experience exponential growth during the forecast period. The financial commitments and funding by the government of various nations have created interest among the technology enthusiasts to invest in the market to have the first-mover advantage in this emerging market.
