India’s Urban Air Mobility Infrastructure Market To Reach $6.2 Million By 2033: Report
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The Indian Urban Air Mobility (UAM) infrastructure market is projected to reach $6.2 million by 2033, at a CAGR of 22.38%, a new report said on Tuesday. According to a BIS Research report, the UAM infrastructure market, particularly in passenger and cargo gate-to-gate operations, is projected to experience steady growth from 2023 to 2033 in the country.
Moreover, as per the report, 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.
“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,” said Faisal Ahmad, co-founder and CEO, BIS Research.
Urban Air Mobility (UAM) envisions the integration of aerial transportation services into urban transportation systems, providing efficient and swift mobility solutions. The report further stated that the UAM market in India is currently in its nascent stage, it holds immense potential for growth.
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, it added.
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future.
