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The urban air mobility industry analysis projects the market to have a significant growth of CAGR 27.37% based on the values during the forecast period from 2023 to 2035. The Asia-Pacific region is expected to dominate the market by 2035 with a share of 39.27%. The Asia-Pacific region includes China, Japan, South Korea, and Singapore, but China is expected to acquire a major share in 2035 due to the increase in the population and traffic congestion in megacities in the country.
The urban air mobility market has gained huge importance in the past few years. This is due to the rising demand for an alternate mode of transportation that is quicker and more efficient than the current transportation services. Several government agencies and associations have started drafting policies and regulations to make sure that the airspace is managed to enable higher and safer operations of the aircraft and drones.