Advanced Air Mobility Market: Industry Expert View on Future Growth and Market Trends
The major stakeholders in the advanced air mobility market includes raw material & component suppliers, battery manufacturers, and end users. As the market for eVTOL aircraft has not been commercialized yet and still in its testing and development phase, the battery & other component manufacturers for AAM aircraft companies are also focusing on the development of new and innovative battery technologies in order to have an early mover advantage in the market as many companies are trying to enter the AAM industry.
The battery/fuel cell is one of the most critical technology in an eVTOL aircraft. Currently the eVTOL aircraft companies are focusing on the development of prototype aircraft models with state of art battery pack with an energy density of around 180 Wh/kg, air taxi range, endurance, and operational flexibility would be massively enhanced by battery improvement to energy densities greater than 400 Wh/kg. Currently the eVTOL aircraft battery manufacturers are majorly focusing on the development of battery packs based on a contract or agreement basis. For instance, in 2021, Lithium has signed an agreement with Customcells for the manufacturing of high-performance silicon-anode batteries for its seven-seat eVTOL Lilium Jet. In addition, some of the aircraft engine manufacturers are also taking sheer interest in entering the eVTOL propulsion system market. For instance, in 2021, Rolls Royce announced that it has been developing electric propulsion system for eVTOL air taxis.
One of the major challenges that the battery manufacturers face is lifecycle of a battery that is required to be in lined with the eVTOL requirements. Moreover, some other challenges such as higher weight and large heat releasing capacity of battery packs are also likely to hamper the growth of eVTOL battery development. To overcome this challenge the vendors are partnering with several eVTOL and component manufacturers in order to understand their requirements and cater to the market demand through product innovation. Moreover, the eVTOL aircraft manufacturers (end users of eVTOL battery) are also focusing on the development of charging infrastructure across the world in order to offer lower needs for maintenance compared to traditional aircraft types. Thus, the demand for high power, high energy density, and high cycle life requirements are opening up the doors for hybrid powertrain options. Most of the eVTOL model manufacturers are preferring lithium-metal batteries in order to achieve higher operational efficiency and meet their customer’s requirements.
The advanced air mobility market is segmented on the basis of component, operation mode, propulsion type, end user, and geography. In terms of component, the market is bifurcated into hardware and software. Based on operation mode, the advanced air mobility market is sub-segmented into piloted and autonomous. In terms of propulsion type, the market is categorized into fully electric and hybrid. Based on end user, the market is segmented into passenger and cargo. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). Airbus, Bell Textron, EVE Mobility, Boeing, Ehang, Lilium GmbH, Volocopter, Joby Aviation, Archer Aviation, and Heart Aerospace are among the key market players profiled during the market study. In addition to these players, several other important companies were studied and analyzed during this market research study to get a holistic overview of the global advanced air mobility market. Most of the market initiatives were observed in Europe and North America region, which have a high potential of market-related products, solutions, and services.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
The battery/fuel cell is one of the most critical technology in an eVTOL aircraft. Currently the eVTOL aircraft companies are focusing on the development of prototype aircraft models with state of art battery pack with an energy density of around 180 Wh/kg, air taxi range, endurance, and operational flexibility would be massively enhanced by battery improvement to energy densities greater than 400 Wh/kg. Currently the eVTOL aircraft battery manufacturers are majorly focusing on the development of battery packs based on a contract or agreement basis. For instance, in 2021, Lithium has signed an agreement with Customcells for the manufacturing of high-performance silicon-anode batteries for its seven-seat eVTOL Lilium Jet. In addition, some of the aircraft engine manufacturers are also taking sheer interest in entering the eVTOL propulsion system market. For instance, in 2021, Rolls Royce announced that it has been developing electric propulsion system for eVTOL air taxis.
One of the major challenges that the battery manufacturers face is lifecycle of a battery that is required to be in lined with the eVTOL requirements. Moreover, some other challenges such as higher weight and large heat releasing capacity of battery packs are also likely to hamper the growth of eVTOL battery development. To overcome this challenge the vendors are partnering with several eVTOL and component manufacturers in order to understand their requirements and cater to the market demand through product innovation. Moreover, the eVTOL aircraft manufacturers (end users of eVTOL battery) are also focusing on the development of charging infrastructure across the world in order to offer lower needs for maintenance compared to traditional aircraft types. Thus, the demand for high power, high energy density, and high cycle life requirements are opening up the doors for hybrid powertrain options. Most of the eVTOL model manufacturers are preferring lithium-metal batteries in order to achieve higher operational efficiency and meet their customer’s requirements.
The advanced air mobility market is segmented on the basis of component, operation mode, propulsion type, end user, and geography. In terms of component, the market is bifurcated into hardware and software. Based on operation mode, the advanced air mobility market is sub-segmented into piloted and autonomous. In terms of propulsion type, the market is categorized into fully electric and hybrid. Based on end user, the market is segmented into passenger and cargo. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). Airbus, Bell Textron, EVE Mobility, Boeing, Ehang, Lilium GmbH, Volocopter, Joby Aviation, Archer Aviation, and Heart Aerospace are among the key market players profiled during the market study. In addition to these players, several other important companies were studied and analyzed during this market research study to get a holistic overview of the global advanced air mobility market. Most of the market initiatives were observed in Europe and North America region, which have a high potential of market-related products, solutions, and services.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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