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Global and Asia-Pacific Advanced Air Mobility (AAM) Market Report Coverage

Global and Asia-Pacific Advanced Air Mobility (AAM) Market

Base Year

2022

Market Size in 2023

$2.31 Billion

Forecast Period

2023-2035

Value Projection and Estimation by 2035

$20.37 Billion

CAGR During Forecast Period

19.88%

Number of Pages

99
Number of Tables 65 Number of Figures

24

 

The global and Asia-Pacific advanced air mobility market consists of key market players still establishing themselves in the industry. For instance, in December 2023, Doroni Aerospace secured airworthiness certification from the Federal Aviation Administration (FAA) for its eVTOL, the Doroni H1, enabling the operation of its fully electric, two-seat flying car. Additionally, EHang Holdings Limited announced that its EH216-S passenger-carrying UAV system received the standard airworthiness certificate from the Civil Aviation Administration of China (CAAC). Furthermore, Hanwha Aerospace has collaborated with advanced engineering company Stirling Dynamics to produce the electromechanical actuators (EMA) for Vertical Aerospace's VX4 electric vertical take-off and landing (eVTOL) aircraft. The VX4, a fully electric aircraft, is designed to accommodate four passengers and one pilot, with a range of approximately 160 km on a single charge.

Some prominent names established in this market are:

•    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.

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of services available for deployment and their potential globally. Moreover, the study provides the reader with a detailed understanding of the global and Asia-Pacific advanced air mobility market by products based on design, component, energy source, range, and platform development.

Growth/Marketing Strategy: The global and Asia-Pacific advanced air mobility market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been merger and acquisition to strengthen their position in the global and Asia-Pacific advanced air mobility market. For instance, Supernal and Inmarsat have revealed a collaborative venture to outline the utilization of satellite connectivity in advanced air mobility (AAM). The two entities will engage in testing and exchanging data to enhance hardware and network systems, aiming to facilitate the secure and efficient assimilation of electric vertical take-off and landing (eVTOL) vehicles into airspace.

Methodology: The research methodology design adopted for this specific study includes a mix of data collected from primary and secondary data sources. Both primary resources (key players, market leaders, and in-house experts) and secondary research (a host of paid and unpaid databases), along with analytical tools, have been employed to build the predictive and forecast models.

Data and validation have been taken into consideration from both primary sources as well as secondary sources.

Key Considerations and Assumptions in Market Engineering and Validation

•    Detailed secondary research has been done to ensure maximum coverage of manufacturers/suppliers operational in a country.
•    Exact revenue information, up to a certain extent, has been extracted for each company from secondary sources and databases. Revenues specific to product/service/technology were then estimated based on fact-based proxy indicators as well as primary inputs.
•    Based on the classification, the average selling price (ASP) has been calculated using the weighted average method.
•    The currency conversion rate has been taken from the historical exchange rate of Oanda and/or other relevant websites.
•    Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.
•    The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year.
•    The term “product” in this document may refer to “service” or “technology” as and where relevant.
•    The term “manufacturers/suppliers” may refer to “service providers” or “technology providers” as and where relevant.

Primary Research

The primary sources involve industry experts from the global and Asia-Pacific advanced air mobility industry, including advanced air mobility product providers. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.

Secondary Research

This study involves the usage of extensive secondary research, company websites, directories, and annual reports. It also makes use of databases, such as Businessweek and others, to collect effective and useful information for a market-oriented, technical, commercial, and extensive study of the global market. In addition to the data sources, the study has been undertaken with the help of other data sources and websites.

Secondary research was done to obtain critical information about the industry’s value chain, the market’s monetary chain, revenue models, the total pool of key players, and the current and potential use cases and applications.

 

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Global and Asia-Pacific Advanced Air Mobility (AAM) Market

Focus on Design, Platform Development, Range, Energy Source, Component, and Country - Analysis and Forecast, 2023-2035

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Some Faq's

Frequently Asked Questions

The global and Asia-Pacific advanced air mobility market encompasses a range of products segmented into categories that include design, range, energy source, platform development, and component. These products are integral in industries for efficient aerial inspections of critical infrastructure, including power lines, pipelines, and communication towers. Various designs in advanced air mobility (AAM) encompass life and cruise, tiltrotor, multicopter, and ducted vector, featuring platforms such as delivery drones and electric vertical take-off and landing (eVTOL) aircraft, with a primary focus on safety and efficiency. AAM vehicles are designed for diverse operational ranges, serving short intra-city trips and longer inter-city travel needs. Additionally, components are continually innovated to boost performance and sustainability, emphasizing the use of lightweight and durable materials. The energy sources powering these vehicles range from electric and hybrid to hydrogen fuel cells, underscoring the industry's dedication to eco-friendly solutions. The AAM market is in a state of rapid evolution, propelled by technological advancements and growing demand for effective and sustainable air mobility solutions.

In the competitive landscape of the advanced air mobility market, players are increasingly adopting advanced technological strategies to enhance their market position. A significant trend is firms are committing substantial resources to research and development endeavors, aiming to advance current technologies and devise novel solutions in the advanced air mobility (AAM) sector. This strategic investment ensures they remain at the forefront of innovation, enhancing operational efficiency and effectively addressing emerging challenges. Simultaneously, companies are forging strategic alliances with crucial stakeholders such as technology partners and regulatory bodies, fostering collaborative ecosystems to comprehensively develop AAM solutions. Active engagement with regulatory authorities is a priority, enabling companies to play a proactive role in shaping industry standards and influencing regulatory frameworks for seamless integration of AAM solutions into existing airspace.

For a new company entering the global and Acia-Pacific advanced air mobility market, a strategic focus on several key areas is essential for staying ahead of the competition. Dedicate substantial resources to research and development efforts aimed at crafting cutting-edge and dependable advanced air mobility (AAM) technologies. Emphasize the creation of aerial mobility solutions that are not only efficient but also adhere to stringent regulatory standards, prioritizing safety and sustainability. Engage in meticulous prototype testing to assess the viability, safety, and performance of the developed technologies. Rigorously conduct test flights to not only validate the capabilities of the prototypes but also to establish credibility within the industry and secure necessary regulatory approvals.

The following can be seen as some of the USPs of the report:

  • A dedicated section on growth opportunities and recommendations
  • A qualitative and quantitative analysis of the global and Asia-Pacific advanced air mobility market based on product
  • Trend and challenge analysis of different countries, which include:
    • China
    • Japan
    • South Korea
    • Thailand
    • Singapore
    • Indonesia
  • Regional and country-level forecast
  • A detailed company profile comprising established players and some start-ups that are capable of significant growth, along with an analyst view

Companies developing advanced air mobility products, eVTOLs, and delivery drones, equipment manufacturers, government and regulatory bodies, R&D institutions, and training providers should buy this report.