[Research Report] The Advanced Air Mobility market was valued at US$ 547.07 million in 2022 and is projected to reach US$ 12,730.44 million by 2030; it is expected to grow at a CAGR of 48.2% from 2022 to 2030.Analyst Perspective:Geographic diversification across different North American countries and the presence of major aircraft manufacturers, such as Bell Textron Inc., Joby Aviation, and Kitty Hawk, are the major factors driving the sales of eVTOL aircraft in North America. The US Air Force had officially introduced its Agility Prime initiative to accelerate the growth of eVTOL technology. The growing competition in the advanced air mobility market is mainly focusing on to achieve the US Federal Aviation Administration aircraft certification and enter commercial service. In April 2022, Jaunt Air Mobility attracted two new private investors to help fund its plans to bring a four-passenger eVTOL aircraft to commercialize in 2026. Thus, such developments in eVTOL aircraft are fueling the advanced air mobility market growth in North America.In Europe, Germany and France are investing heavily in the development and procurement of advanced air mobility vehicles for commercialization. Advancements in the manufacturing capability of emerging economies in this region will drive the advanced air mobility market. Additionally, the need to increase operational efficiency, reduce human intervention for intercity and intracity transportation using eVTOLs and air taxis and a rise in investment for air taxis, unmanned drones and eVTOL development by several vendors worldwide is another prominent factor expected to strengthen the advanced air mobility market growth. For instance, in March 2022, Volocopter, the pioneer of urban air mobility, raised US$ 170 million in the locking of its Series E financing round led by WP Investment, a South Korean investor, at a pre-money valuation of US$ 1.7 billion. In addition, Volocopter is developing new and sustainable mobility options for various cities in European countries. With its family of aircraft, such as the VoloCity, VoloConnect, and VoloDrone, the company is taking a distinctive approach by advancing urban air mobility as a complete ecosystem. In May 2022, BLADE Urban Air Mobility, Inc. planned to expand its new European division headquartered in Paris. According to the European Union Aviation Safety Agency, Europe could witness the first flying taxis enter service as early as 2024. The growing development and adoption of eVTOL aircraft and cargo drones are further fueling the advanced air mobility market size across the region.The evolution of the advanced air mobility market in Asia Pacific is attributed to the highly urbanized nature of many major Asia Pacific cities that have made the region a natural area of concentration for eVTOL and air taxi innovation. The region has become the epicenter of the new air transport business model, with Singapore being the early adopter. Cities in countries such as China, India, Australia, South Korea, and Japan have all engaged in work with eVTOL aircraft and air taxi manufacturers and companies looking to provide advanced air mobility services and infrastructure. The manufacturers in the Asia Pacific region are poised to deliver a revolution in public transportation using eVTOL aircraft to operate air taxi services in and around cities for cargo deliveries and emergency medical missions. For instance, Skyports Ltd. operates in providing infrastructure for flying taxis and other urban aviation devices, and it is planning to expand into Japan and Australia to build terminals for eVTOL aircraft. As per the study conducted by Rolls Royce, Asia Pacific holds huge potential for the advanced air mobility industry. Thus, the developments from the key players in the eVTOL industry in the Asia Pacific region are likely to provide new opportunity for advanced air mobility market vendors across the Asia Pacific region.The growing demand for advanced air mobility vehicles from the rest of the world is primarily attributed to the rise in demand for zero-emission aircraft, the increase in demand for last-mile delivery, and the rise in the trend of adopting eVTOL aircraft, air taxis and unmanned small cargo drones. Thus, such factors are holding potential demand for urban air mobility, which will further propel the advanced air mobility market growth.Strategic InsightsMarket Driver:Embracing Air Taxis Owing to the Advancement of Urban Air Mobility Boosting the Advanced Air Mobility Market GrowthTechnological advancements, UAMs usage in different civil and commercial applications, and considerable investments in emerging nations fuel the urban air mobility industry. The air taxis used for urban air mobility are mostly electric-powered. Hence, they do not cause atmospheric pollution. The urban air mobility industry is at an early stage, which is expected to drive the adoption of air taxis in the coming years. In addition, in Q1 2020, Toyota invested US$ 394 million in Joby Aviation eVTOL Aircraft. Similarly, in March 2022, Airbus and The Helicopter Company (THC) signed an agreement to introduce urban air mobility and continue expanding helicopter activities in Saudi Arabia. This comes as an additional step toward co-creating an urban air mobility ecosystem in the country. In January 2022, Boeing made an investment worth US$ 450 million in Wisk Aero to support the development of future pilotless flying taxis. Further, Joby Aviation is planning to achieve certification for its aircraft from the Federal Aviation Administration (FAA) along with its plan to launch commercial operations and passenger service by 2024. Asia-Pacific is one of the key markets for urban air mobility and premium transportation as various countries such as China, India, Singapore, and South Korea have significant investments and heavy road traffic. Such advanced air mobility market initiatives are liley to catalyze the growth of advanced air mobility market size in the coming years.Segmental Analysis:By operation mode, the advanced air mobility market is segmented into piloted and autonomous. Piloted aircraft are one of the most common prototypes that are being developed and tested across the advanced air mobility industry. On the other hand, autonomous aircraft fly by utilizing the control of automatic systems and require no intervention from a human pilot. The growing technological advancement in the advanced air mobility market is anticipated to boost the application of autonomous aircraft in the near future. In 2022, piloted segment dominated the advanced air mobility market and is likely to hold its dominant position during the forecast period as well.Regional Analysis:Global advanced air mobility market is segmented by region into North America, Europe, Asia Pacific, and Rest of the World. In 2022, Europe dominated the market with a largest advanced air mobility market share and is likely to capture second largest position in the market by the end of 2030. North America is likely to surpass European advanced air mobility market size in 2028 which is further shows future opportunities for advanced air mobility market players during the forecast period for the North America region. Key Player Analysis:Airbus, Bell Textron, EVE Mobility, Boeing, Ehang, Lilium GmbH, Volocopter, Joby Aviation, Archer Aviation, and Heart Aerospace are among the key advanced air mobility market players operating in the market.Recent Developments: Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the global advanced air mobility market. A few recent developments by key advanced air mobility market players are listed below: In 2023, Eve Air Mobility and Blade Air Mobility, Inc. announced a significant extension of their long-standing partnership through a memorandum of understanding (“MoU”). This collaboration aims to transform air transportation in Europe, starting with France, by laying the foundation to integrate Eve’s state-of-the-art electric vertical take-off and landing aircraft (“eVTOL”) or electric vertical aircraft (“EVA”) into Blade’s European route network.In 2023, Bristow Group Inc and Volocopter signed an agreement to explore and develop passenger and cargo services for electric vertical takeoff and landing (eVTOL) aircraft in the US and UK.