Urbanization has taken the world by storm, and while people living in cities are provided with as many facilities as possible, it cannot be said that there are no negative aspects of advancements. As the disposable income of people is increasing, the number of vehicles on roads in growing as well. This is further causing traffic congestion on roads, majorly in urban areas. For example, 90 hours are spend on an average by people in the U.S. in traffic jams every year, which further increased the transportation expenditure by more than $1,000. 

This problem can be solved by making use of aerial mobility, also known as urban air mobility (UAM). The term is utilized for referring to on-demand, automated cargo or passenger carrying air transportation services. According to a report by P&S Intelligence, the global urban air mobility market is expected to generate a revenue of $895.0 million in 2023 and $6,889.4 million by 2030, and is predicted to advance at a 33.9% CAGR during the forecast period (2023–2030). Between passenger and cargo, the demand for passenger aircraft is projected to be higher in the coming years. Air ambulance, air taxi, and airport shuttle are the different passenger aircraft types. 

This would increase the range of electric vertical take-off and landing (eVTOL) aircraft, thereby enabling them to travel to different cities. Aircrafts used for UAM can be piloted or autonomous, between which, the demand for autonomous aircrafts is predicted to be higher in the coming years. This is majorly due to the fact that autonomous aircrafts are being considered better for passenger and cargo transportation services as compared to piloted aircrafts. In addition to this, aircraft manufacturers, infrastructure providers, and airspace integration researchers are increasingly providing funds for autonomous UAM services.     

When geography is taken into consideration, North America is projected to emerge as the largest urban air mobility market in the years to come. This is because of the rapidly increasing traffic congestion on roads in the U.S., which will result in a larger number of people opting for air travel services. Furthermore, last-mile and cargo services, along with eVTOL aircraft, are predicted to be provided widely in the U.S. Apart from this, the demand for these services is also expected to grow substantially in Europe in the near future due to heavy investments for the development of this technology. 

Hence, the demand for urban air mobility services is predicted to increase in the coming years on account of surging congestion on roads in major cities.