According to our new research study on " Advanced Air Mobility Market Forecast to 2030 – Global Analysis – by Tanker Component, Operations Mode, Propulsion Type, End Use," the market was valued at US$ 547.07 million in 2022 and is projected to reach US$ 12,730.44 million by 2030; it is expected to record a CAGR of 48.2% from 2022 to 2030. 

The International Civil Aviation Organization (ICAO) headquartered in Montreal, Canada, founded the non-profit organization named as Ambular. The goal of Ambular is to develop an open source eVTOL emergency medical response (EMS) aircraft. eVTOL aircraft technologies are currently being developed and experimented. However, challenges such as ground infrastructure, economical costs or energy density of batteries would need to be overcome by the players operating in the advanced air mobility market. Such factors have been driving the advanced air mobility market growth across different regions. Moreover, the government initiatives for deployment of air taxis and develop a better urban air mobility infrastructure is also likely to generate new opportunities for advanced air mobility market players during the forecast period as well.

The technological advancement in the field of air mobility is driving the development of small, unmanned drones for cargo deliveries. The increasing demand for speedy same-day delivery of shipments and the need for delivering essential supplies in unreachable and remote locations are boosting the demand for small, unmanned drones. The unmanned aerial drones can be used to deliver a range of cargo, which primarily includes spare parts, commercial goods, medical supplies, food items and vaccines. In addition, unmanned aerial drones can also be used to deliver postal in remote construction or offshore sites. The increasing proliferation of unmanned drones in the logistics and freight services. For instance, in 2022, Skye Air Mobility collaborated with Dunzo to test and trial drone-driven food delivery services in Karnataka, India. In 2022, Swiggy collaborated with Garuda Aerospace to trial drones to deliver groceries in Bengaluru and Delhi NCR. Cargo drones are also gaining momentum as it is a viable option to mitigate the carbon footprint and lower the level of environmental pollution which further garners the advanced air mobility market size. Such developments have been catalyzing the advanced air mobility market growth. Growing focus on lowering the carbon footprint in the logistics and aviation sector is boosting the development of cargo drones globally. For instance, in 2021, Leonardo S.p.A. completed the first trial of its "Sumeri Moderni" drone-based delivery in Turin. In 2022, FedEx Corp. collaborated with Elroy Air to trial their autonomous eVTOL air cargo system for middle-mile logistics operations by 2023. Thus, the growing development of small unmanned drones for cargo deliveries is anticipated to boost the global advanced air mobility market growth.

Further, the favorable government initiatives from leading countries and a growing number of startups entering the advanced air mobility market fuel the adoption of air taxis. In December 2021, the Australian government announced a grant worth US$ 23 million to explore the application of new aviation technology as part of its Emerging Aviation Technology Partnerships Program. The funding aims to accelerate the adoption of urban air mobility transportation, which consists of drones, eVTOL aircraft, and alternative propulsion systems. In addition, in April 2022, Airbus and ITA Airways signed a Memorandum of Understanding to collaborate on urban air mobility (UAM) in Italy. The agreement also focuses on the safe and sustainable launch of CityAirbus NextGen eVTOL aircraft. Thus, such 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 players during the forecast period.

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