Urban Air Mobility Market Projected to Reach USD 11.34 Billion by 2034, Growing at 20.10% CAGR

The global Urban Air Mobility (UAM) market was valued at USD 2.18 billion in 2025 and is forecast to reach USD 11.34 billion by 2034, expanding at a compound annual growth rate of 20.10% over the 2026–2034 period, according to Polaris Market Research. The 2026 market estimate stands at USD 2.62 billion.

North America led with a 39.84% revenue share in 2025, supported by eVTOL aircraft investment and collaboration with the FAA, while Asia Pacific is the fastest-growing region at a 23.93% CAGR, driven by government programs in China, Japan, and South Korea. Europe, Latin America, and the Middle East and Africa are also expanding, with Germany, France, the UK, Brazil, the UAE, and Saudi Arabia backing eVTOL development and vertiport infrastructure. By solution, the platform segment led with 75.12% share in 2025, while infrastructure is projected to grow at 24.58% CAGR. Piloted systems accounted for 77.86% of revenue in 2025, with autonomous operations forecast as the fastest-growing segment at 27.90% CAGR. Air taxis and personal air vehicles held 30.16% share in 2025, with cargo air vehicles projected to grow at 25.38% CAGR, and rotary-wing designs led platform architecture with 61.67% share.

Regulatory and industry developments cited include the FAA releasing operating specification templates for powered-lift operations in September 2025. Joby Aviation began flight testing its first FAA-conforming aircraft for Type Inspection Authorization in March 2026 and completed its SR3 FAA audit in May 2026, reporting in August 2026 progress in the fifth and final stage of its FAA type certification process with five electric air taxis in testing. In July 2026, Archer Aviation completed piloted city-to-city Midnight flights and unveiled an autonomous hybrid VTOL platform.