The global vertical mobility market is poised to witness a significant growth rate in the next eight years owing to the benefits such as faster mode of transport, saving time on traffic congestions, and flexibility, among others. Vertical mobility generally requires low infrastructure investment as air roads are almost cost-free. This is anticipated to be a key factor driving the growth of the vertical mobility market over the forecast period. Moreover, sitting in traffic is a universal occurrence that comes with serious negative consequences in terms of increased fuel consumption, time wasted, and higher emissions. For instance, the average resident of Los Angeles loses around 102 hours a year sitting in traffic jams. Additionally, ever growing traffic in several cities across the globe reached its limit or is about to, frequently owing to lack of available space or funding. Thus, creating a demand for vertical mobility in the coming years.
Smart & Innovative cities such as Dubai, Singapore, Dallas, China or Sao Paulo are expected to be the early adopters of eVTOL (electric vertical take-off and landing) aircraft as these regions have a quick decision-making process and are more open to the testing of new technology. Also, vertical mobility is considered as the fastest transportation and saves valuable time. For vertical mobility to become a reality, the ecosystem needs to satisfy requirements across four crucial areas, including aircraft systems, certification & law, social acceptance, and infrastructure. In urban transport, vertical mobility will only be a single piece as it has a limited range of applications and can generally beat other modes of transportation, such as taxis, at distances of 20 Kms or more. Vertical mobility will become an integral part of overall urban mobility if it is linked with first-and last-mile modes of transport. Passenger drones can play a significant role as they are fast and can be made available on demand. Drones generally require a low level of investment to build the infrastructure as they have fast landing and fast charging mode. Around a hundred landing places are adequate to provide broad service to a city of a million or more residents. Air taxi, also known as VTOL (vertical take-off and landing) aircraft can carry a pilot and up to four passengers. VTOL are generally powered by electric motors and is more quiet and reliable than helicopters. Key improvements in noise emissions and battery technology are expected to occur over the coming years, thereby driving the large-scale commercial adoption for vertical mobility.
For vertical mobility to be highly successful, access to other mobility modes such as ground mobility is necessary, which led to time-consuming. Furthermore, regulations pertaining to vertical mobility lack a robust framework which proves to be a hurdle and a factor restarting affect the market growth.
The vertical mobility market can be segmented on the basis of type and service type. Based on type, it is further segmented into air taxi, drones, and others. Among types, the Drones segment is anticipated to grow at a significant rate over the coming years owing to its wide range of applications in monitoring maintenance or construction work, Inspecting factories from above, shooting films, etc. Based on service type, the market is segmented into inspection, goods delivery, passenger, and support services, among others.
Based on the region, the vertical mobility market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The market in the Asia Pacific region is anticipated to hold significant share over the forecast period. Asia Pacific region is followed by the North America market and is also expected to be a significant market for vertical mobility owing to increasing demand for drones for inspection purposes. Some of the key players identified across the value chain of the global vertical mobility market include Ehang UAV, Volocopter GmbH, Airbus SE, SureFly, Vahana, among others. The vertical mobility market in consolidated with the presence of a few global and regional players. To succeed in the vertical mobility ecosystem, the players are focused on establishing strong partnerships between private and public entities.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.