Europe Advanced Air Mobility Market
No. of Pages: 96 | Report Code: BMIRE00029845 | Category: Aerospace and Defense
No. of Pages: 96 | Report Code: BMIRE00029845 | Category: Aerospace and Defense
The Europe advanced air mobility market was valued at US$ 204.87 million in 2022 and is expected to reach US$ 4,850.22 million by 2030; it is estimated to grow at a CAGR of 48.5% from 2022 to 2030.
The aviation industry is one of the fastest-growing sources of greenhouse gas emissions, driving global climate change. On January 11, 2021, the Environmental Protection Agency (EPA) issued a greenhouse gas (GHG) emissions standard for aircraft operating worldwide to control their carbon emissions. In addition, in November 2021, the EPA filed a litigation that formulated the commercial aircraft greenhouse gas (GHG) emission standards, which the EPA promoted in early 2021. The development of electric propulsion-based eVTOL aircraft helps mitigate the environmental impact in terms of noise and pollutant emissions. Thus, government regulations and policies for reducing emissions drive the demand for electric propulsion-based eVTOL aircraft.
Initiatives from key players and startups are increasing across the world. For instance, in May 2022, Volocopter, a German startup, announced that it is partnering with Jetex, an aircraft ground handling company, to deploy and operate permanent vertiport infrastructure for passenger services. The startup will launch operations in 2024. As battery technology has improved over the years, eVTOL is becoming sustainable. eVTOL aircraft can fly for longer ranges and at higher speeds. Electric propulsion-based eVTOL can move into intra-city and inter-city aviation. The investments from key players are also growing. For instance, in January 2022, Jetson AB, a Swedish eVTOL company, completed the sale of the entire production of its eVTOL aircraft in 2022 and has an order of 100 units with delivery from 2023, along with over 3,000 pre-orders for further deliveries. Moreover, the increasing developments in electric propulsion-based UAVs are also expected to boost the eVTOL aircraft during the forecast period. Also, the vendors across this market are initially focusing on the development of fully electric propulsion-based eVTOL aircraft, which is acting as one of the major drivers of the advanced air mobility market.
Germany, France, Italy, the UK, Russia, and the Rest of Europe are some of the major countries for the advanced air mobility market. The Rest of Europe consists of countries such as Sweden and the Netherlands. The growing demand for last-mile delivery and rising demand for urban air mobility aircraft accelerate the market growth.
Exceptional hurdles and shifting consumer demands have led the European countries to invest in new services such as Pick Up Drop Off, last mile delivery, and new innovations including real-time delivery changes. The augmented importance of last-mile delivery has become evident in advanced mobility-based transportation activities. The long-standing freight shippers are incorporating or updating technology to improve the last-mile delivery support. The major focus is on enhancing reliability, improving customer experience, and increasing the competitiveness of the transport ecosystem. Thus, the demand for small unmanned drones and eVTOL aircrafts is increasing across Europe.
The advanced air mobility market is in development phase in Europe; however, the leading companies are strategically working upon to leverage the market dynamics. For instance, in 2023, Bristow Group and Volocopter collaborated and signed an agreement to develop passenger and cargo services for eVTOL aircraft in the US and the UK. In 2023, Eve and Blade Air Mobility collaborated to integrate flying car into Europe. Through this agreement, Blade aims at emphasizing on the advancement of air mobility across the European countries.
In 2022, ITA Airways and Airbus collaborated to develop urban air mobility services in Italy. Through this agreement, both the companies will collaborate with local mobility service providers to sustainably launch the operations with CityAirbus advanced eVTOL aircraft.
Volocopter GmbH, a German aircraft manufacturer and a leading pioneer of urban air mobility (UAM), has planned to launch the world’s first-ever eVTOL suite of services with the help of passenger air taxis and heavy-lift cargo drones. Also, in March 2022, Jetex and Volocopter signed a strategic alliance to define a safe and sustainable model of urban air mobility. The partnership was established to deploy and operate permanent, economically sustainable, and integrated UAM taxi take-off and landing infrastructure and services for passenger transportation. In addition, in October 2021, Volocopter GmbH successfully performed the first public flight demonstration of its eVTOL VoloDrone.
In March 2021, Lilium revealed its latest 7-Seater Lilium Jet (eVTOL) aircraft, as an advanced fourth generations of technology. The company has also planned to merge with Qell Acquisition Corp. making the eVTOL maker a publicly listed company. Honeywell, Rolls-Royce, and other large aerospace players have already formed specialist units for urban air mobility to discover technologies, including hybrid and electric systems, along with other prospects, such as autonomous and actuation flight systems.
Thus, rising developments in advancing the eVTOL aircraft and small unmanned drones and growing initiatives for improving the advanced air mobility in European countries bolster the advanced air mobility market growth in Europe.
The Europe advanced air mobility market is segmented based on component, operation mode, propulsion type, end-use, and country.
Based on component, the Europe advanced air mobility market is bifurcated into hardware and software. The hardware segment held a larger Europe advanced air mobility market share in 2022.
In terms of operation mode, the Europe advanced air mobility market is bifurcated into piloted and autonomous. The piloted segment held a larger Europe advanced air mobility market share in 2022.
By end-use, the Europe advanced air mobility market is segmented into passenger and cargo. The cargo segment held a larger Europe advanced air mobility market share in 2022.
By propulsion type, the Europe advanced air mobility market is segmented into fully electric and hybrid. The fully electric segment held a larger Europe advanced air mobility market share in 2022.
Based on country, the Europe advanced air mobility market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the Europe advanced air mobility market in 2022.
Airbus SE, EHang Holdings Ltd, The Boeing Co, Embraer SA, Elbit Systems Ltd, Volocopter GmbH, and Lilium GmbH are some of the leading companies operating in the Europe advanced air mobility market.
Strategic insights for the Europe 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.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 204.87 Million |
| Market Size by 2030 | US$ 4,850.22 Million |
| Global CAGR (2022 - 2030) | 48.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe 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.
1. Airbus SE
2. EHang Holdings Ltd
3. The Boeing Co
4. Embraer SA
5. Elbit Systems Ltd
6. Volocopter GmbH
7. Lilium GmbH
The Europe Advanced Air Mobility Market is valued at US$ 204.87 Million in 2022, it is projected to reach US$ 4,850.22 Million by 2030.
As per our report Europe Advanced Air Mobility Market, the market size is valued at US$ 204.87 Million in 2022, projecting it to reach US$ 4,850.22 Million by 2030. This translates to a CAGR of approximately 48.5% during the forecast period.
The Europe Advanced Air Mobility Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Advanced Air Mobility Market report:
The Europe Advanced Air Mobility Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Advanced Air Mobility Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Advanced Air Mobility Market value chain can benefit from the information contained in a comprehensive market report.
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