India’s Urban Air Mobility (UAM) Infrastructure Market to Reach $6.2 Million by 2033: BIS Research Report
BIS Research, a market intelligence and advisory firm specializing in deep and emerging technologies, has launched its proprietary report on the India UAM (Urban Air Mobility) infrastructure market, according to which the market is projected to reach $6.2 million by 2033, at a CAGR of 22.38%.
Urban Air Mobility (UAM) envisions the integration of aerial transportation services into urban transportation systems, providing efficient and swift mobility solutions. UAM services, including electric Vertical Take-Off and Landing (eVTOL) aircraft, have the potential to alleviate congestion, reduce travel times, and enhance transportation connectivity within cities. Various homegrown companies and startups in India, such as Jaunt Air Mobility, The ePlane company, L&T Technology Services, and Aerpace, are actively involved in developing eVTOL aircraft and entering the UAM services market, as per the report.
The BIS Research report- UAM Infrastructure Market- A Global and Regional Analysis- indicates that the Indian UAM Infrastructure Market, particularly in passenger and cargo gate-to-gate operations, is projected to experience steady growth from 2023 to 2033. The compound annual growth rate (CAGR) for passenger gate-to-gate operations is estimated at 26.83% ($3.1 million), cargo gate-to-gate operations are expected to grow at a CAGR of 18.55% ($2.5 million), and hybrid passenger and cargo gate-to-gate operations will touch 29.81% ($0.6 million) by 2033.
While the UAM market in India is currently in its nascent stage, it holds immense potential for growth. Plans for launching air taxi operations in India are set to take flight as early as 2025, with the establishment of an eVTOL manufacturing plant. Both Tata and Uber have expressed interest in the Indian UAM infrastructure market, and the government is proactively exploring policies and regulations to support UAM developments in the country.
The report delves further into the physical infrastructure market for UAM. It states that the vertistops and vertiports segment is valued at $0.4 million in 2023, and this number is expected to reach $1.0 million by 2033. Other infrastructure segments like charging and refueling stations, MRO facility, and docking stations and hub spots, currently valued at $0.2 million, $0.1 million, and $0.1 million (2023) is expected to reach $0.4 million, $0.2 million, $0.3 million respectively (by 2033), registering a CAGR of around 9.37% during the forecast period.
The cities of Mumbai, Bangalore, Chennai, and Hyderabad have been identified by the report as potential hubs for the initial developments of UAM infrastructure in India leveraging their dynamic urban landscapes and progressive mindset towards innovative mobility solutions. However, constraints with respect to the efficient management of airspace, establishing robust air traffic management systems, and integrating UAM vehicles into existing airspace pose critical challenges for the sector. Investment in the development of vertiports, charging infrastructure, and maintenance facilities is imperative to support the growth of UAM operations.
Faisal Ahmad, Co-Founder & CEO of BIS Research, said, ” The complexities of urban congestion and transportation infrastructure in India has propelled a new era of possibilities with Urban Air Mobility (UAM) services at its epicenter, powered by the country’s dynamic startup ecosystem. Embracing a forward-looking vision, these innovative enterprises are propelling the potential of eVTOL aircraft, charting the course for the UAM infrastructure market, and carving a path towards a reimagined mobility landscape for the nation.”
