The global Advanced Air Mobility (AAM) market size was estimated at USD 8.6 billion in 2023 and is projected to reach USD 37.6 billion in 2030 at a CAGR of 23.5% during the forecast period 2024-2030.
The advanced air mobility (AAM) market represents a revolutionary shift in aviation, focused on developing electric or hybrid-electric Vertical Take-Off and Landing (eVTOL) aircraft for urban and regional transportation. AAM holds significant promise as a solution to air pollution, as electric and hybrid-electric aircraft can drastically reduce emissions compared to traditional aircraft. This environmental benefit is crucial, given that the aviation industry is responsible for approximately 2% of global greenhouse gas emissions. Governments worldwide are setting ambitious targets to reduce these emissions, thereby creating a demand for more sustainable aviation technologies.