The European urban air mobility market is estimated to grow at a CAGR of 11.7% during the forecast period. Europe is estimated to witness optimistic growth in the market during the forecast period, owing to the rapid urbanization and the initiatives led by the European government for urban air mobility. As per the United Nations (UN), 74% of the European population was living in urban areas in 2018. This growing urbanization has significantly increased the problems regarding road congestion and crowding, which makes transport using ground-bound vehicles highly difficult in urban settings. As per the European Innovation Partnership on Smart Cities and Communities (EIP-SCC), in the EU, traffic congestion currently costs nearly $110.9 billion a year.
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The European urban air mobility market is segmented on the basis of component and operation. Based on the component, the market is further segmented into infrastructure and platform. The infrastructure segment is further segmented into charging stations, traffic management, and others whereas, the platform segment is further classified into air taxi, personal air vehicle, air ambulance, and others. The platform segment dominated the global urban air mobility market.
The European urban air mobility market covers the analysis of five major regions including UK, Germany, Italy, Spain, and France. Apart from the major European economies, there are some other economies that show huge potential for the growth of the European urban air mobility market. Economies such as the Netherland, Belgium, and Iceland, among others. Netherlands ‘ urban air mobility sector has continuously improved itself over the last few years owing to the growing urbanization and traffic.
Volocopter is one of the German companies that has planned to conduct a trial flight in 2019 in Singapore with the support of the Singaporean government. The company further aims to commercialize the aircraft in the first half of the 2020s in the country. The government of the country is optimistic about the implementation of urban air mobility projects across the country and is providing full support in the development of urban air mobility infrastructure. For the pilot projects in the country, dedicated vertiports will be built on an experimental basis and the user-friendliness of the boarding process, along with other aspects, will be verified. The company is also focusing on market development and has partnered with the German airport management company Fraport in the development of eVTOL air taxi services based at airports.
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European Urban Air Mobility Market Segmentation
By Component
- Infrastructure
- Platform
By Operation
- Piloted
- Autonomous
Regional Analysis
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Company Profiles
- Airbus SE
- Bell Textron, Inc.
- Embraer SA
- Honeywell International, Inc.
- Kitty Hawk Corp.
- Neva Aerospace, Ltd.
- Safran S.A.
- Lilium GmbH
- Thales Group
- Volocopter GmbH
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