According to the new research report published by The Insight Partners, titled “Urban Air Mobility Market is expected to value at US$ 6,384.9 Million and is projected to reach US$ 23,250.3 Million by 2034. The Urban Air Mobility market is expected to grow at a CAGR of 17.5% during the forecast period of 2025 to 2034.

The region comprises a significantly large number of aircraft (commercial, military, and general aviation) manufacturers and major aircraft maintenance, repairing, and overhauling (MRO) services providers. The presence of both in the region, especially in the US, boosts the growth of the Urban Air Mobility market in the region. In the pre-COVID-19 pandemic period, the aircraft manufacturers in North America were experiencing large volumes of orders, which generated a huge requirement for Urban Air Mobility.

In addition, the region houses some of the major airline operators, which is propelling the demand for Urban Air Mobility, owing to new aircraft orders and retrofits of wheels in operating aircraft by MRO services. Thus, the above-mentioned factors are driving the North America Urban Air Mobility market and maintaining its dominance among all other regions.

With the introduction of carbon-fiber-reinforced composite, Urban Air Mobility manufacturers are extensively using the material to design and manufacture aircraft nose wheels. The material is known for its high stiffness and strength, which makes it suitable for aircraft nose wheels. In addition, the composite material is lighter in weight than aluminum and magnesium alloy. Hence, the carbon-fiber-reinforced plastic (CFRP) based wheel is expected to reduce the mass density of an aircraft.

This will result in lower fuel consumption, and the aircraft can be operated economically. Also, the range or payload can be increased. At present, Urban Air Mobility manufacturers are developing Urban Air Mobility made of CFRP composite. For instance, Fraunhofer LBF is using the CFRP composite to develop nose wheels for Airbus A320 aircraft. Hence, in the coming years, Urban Air Mobility manufacturers are expected to increasingly use CFRP material to manufacture aircraft nose wheels. Hence, the rise in the use of CFRP composite material for manufacturing aircraft nose wheels among Urban Air Mobility manufacturers is expected to become a future trend.

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The COVID-19 pandemic severely affected the market due to the shutdown of the global economy and subsequently lowered the productivity of aircraft manufacturing plants in the first two quarters of 2020. Continuous growth in the number of COVID-19 confirmed patients compelled governments and other authorities to impose complete or partial restrictions on cargo transportation, which has disrupted the supply chains of raw materials for Urban Air Mobility. These conditions hindered the overall business of Urban Air Mobility market players.

The Urban Air Mobility market is segmented based on Platform, Operation. Based on Platform, the market Air Taxi, Passenger Aerial Vehicle, Cargo Aerial Vehicle, Air Ambulance. In terms of Operation, the Urban Air Mobility market is segmented into Piloted, Autonomous Geographically, the global Urban Air Mobility market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

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