A Deep Dive into the Global and Asia-Pacific AAM Market Expected to Reach $20.37 Billion by 2035

28 May 2024

The emergence of Advanced Air Mobility (AAM) or Urban Air Mobility (UAM) promises transformative changes across various industries, notably transportation, logistics, and urban planning.

In transportation, AAM offers swift and efficient aerial mobility solutions to tackle issues like traffic congestion and enhance overall transportation efficiency, particularly in urban areas. The logistics and supply chain sectors stand to benefit significantly from AAM, enabling faster deliveries, optimizing goods flow, and reducing lead times.  

AAM also holds the potential to revolutionize emergency response and medical services by providing rapid aerial access to remote locations. In urban planning, AAM presents new opportunities for smart cities, influencing infrastructure development and redefining transportation hubs.

As AAM technology advances, its impact extends beyond aviation, driving innovation and sustainable growth across various sectors. 

Recently, BIS Research released the Global and Asia-Pacific Advanced Air Mobility (AAM) Market Report, which covers data from the base year 2022, indicating a market size of $2.31 billion in 2023. The forecast spans from 2023 to 2035, with an estimated market value of $20.37 billion by 2035, showing a CAGR of 19.88% during the forecast period. The report comprises 99 pages, including 65 tables and 24 figures, providing comprehensive insights into the AAM market globally and in the Asia-Pacific region. 

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Global and Asia-Pacific AAM Market Segments: Overview

Segmentation 1: by Design
•    Lift and Cruise 
•    Tiltrotor 
•    Multicopter 
•    Ducted Vector 

Segmentation 2: by Component
•    Hardware 
•    Software 

Segmentation 3: by Energy Source
•    Electric Propulsion 
•    Hybrid Propulsion 
•    Hydrogen Propulsion

Segmentation 4: by Range 
•    <20 Km 
•    21-100 Km 
•    101-400 Km 
•    >400 Km 

Segmentation 5: by Platform Development 
•    Delivery Drones 
•    eVTOLs 

Segmentation 6: by Region
•    North America, Europe, and Rest-of-the-World 
•    Asia-Pacific ?

Overview: In the global and Asia-Pacific Advanced Air Mobility (AAM) market, the multicopter design dominates, while hardware components lead in the component category. Electric propulsion holds sway in energy sources due to technological maturity and environmental alignment. The <20km range segment tops due to Urban Air Mobility initiatives. Delivery drones lead in platform development, revolutionizing last-mile logistics, especially in e-commerce and healthcare. Regionally, North America, Europe, and the rest of the world spearhead AAM adoption. These trends reflect a shift towards sustainable, efficient aerial transportation solutions, particularly in densely populated urban areas. 

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Key Players in the Global and Asia-Pacific AAM Market

•    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. 

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Analyst Note 

Rajat Srivastava, principal analyst at BIS Research:  "The global and Asia-Pacific advanced air mobility (AAM) market is on the brink of a transformative era, fueled by rapid technological advancements and growing commitment to sustainable transportation solutions. The market is driven by integrating electric propulsion systems, autonomous flight technologies, and innovative urban air mobility (UAM) concepts. Recent developments, such as the successful test flights of electric vertical take-off and landing (eVTOL) aircraft or unmanned aerial systems (UAS) and increasing investments from significant aerospace and transportation companies, underscore the market's momentum.

In the U.S., the Federal Aviation Administration's proactive approach to regulating and integrating AAM operations into national airspace fosters a conducive environment for growth. Additionally, strategic partnerships between technology start-ups, aviation giants, and government entities in the Asia-Pacific region are paving the way for advanced infrastructure and regulatory frameworks."

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