The urban air mobility market size was USD 2.90 billion in 2020. The market is projected to grow from USD 3.01 billion in 2023 to USD 8.91 billion in 2028. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. Based on vehicle type, the market is segmented into air taxis, air metro, air ambulance, last-mile delivery, and others.
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The eVTOL aircraft market value is expected to increase from USD 5.41 billion in 2023 to USD 23.21 billion in 2028 at a CAGR of 23.13% during 2023-2028. Growing urbanization, increasing traffic congestion, and the need for smarter transportation solutions are some of the major factors propelling the market forward.
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The market stood at USD 168.56 billion in 2020. It is projected to grow from USD 170.75 billion in 2023 to USD 188.57 billion in 2028 at a CAGR of 1.43% during the forecast period. The marine vessel market growth is set to occur on account of the surging seaborne trade across the globe. Maritime Publications, for instance, stated that more than 70% of the global trade by value and around 80% by volume is controlled by ports and carried out by sea globally.
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The global 5G in aviation market size was USD 0.35 billion in 2020. The market is projected to grow from USD 0.54 billion in 2023 to USD 9.92 billion in 2028. Based on platform, the 5G in aviation market is segregated into 5G airports and 5G aircraft. The 5G airport segment holds the maximum market share in the 5G in aviation market. The growth of this section is anticipated to rise owing to the rising demand for improved Wi-Fi connectivity for customers.
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The global air ambulance services market size was USD 5.84 billion in 2022. The market is estimated to surge from USD 6.45 billion in 2023 to USD 9.83 billion by 2030. On the basis of aircraft type, the market is fragmented into rotary wing and fixed wing. The rotary wing segment holds a key market share and is slated to grow at the fastest pace over the study period. The rise is propelled by the surging demand for helicopter emergency medical services.
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