Advanced Air Mobility (AAM) is an overarching term that combines both Urban Air Mobility (UAM), which involves transporting persons and cargo above the traffic within a city, and Regional Air Mobility (RAM) which is focused more on connecting suburbs, villages and small towns in the countryside as well as islands or communities separated by mountainous regions and rivers. Some of the key components and new technologies that make up advanced air mobility include:
- eVTOLs / Air Taxis / Passenger Drones;
- [Small] Drone Delivery;
- [Heavy] Cargo Delivery;
- UTM (Unmanned Traffic Management)
Although in some way it is still relatively young and a lot of products have yet to enter the market, the Advanced Air Mobility industry is set to grow to US$20.8 billion by 2035 at a CAGR (compound annual growth rate) of 22.1%. Its components (i.e. eVTOLs, drone delivery, cargo delivery, vertiports and UTM) will all grow at their own pace, with some expanding their markets faster than others. Naturally, the excitement around eVTOLs (air taxis, passenger drones) has pushed for a lot of activity in the urban air mobility segment of AAM.