By Philip Butterworth-Hayes
There is a wide disparity between market forecasters on the total market value for the global vertiport sector by 2030/2034 – with estimates ranging from USD10 billion to USD36 billion over the next ten years and compound annual growth rates (CAGR) of between 45% and 62%.
Most of these reports suggest North America will be the largest and fastest-growing vertiport geographic sector – all of them ignoring China’s multi-billion dollar “low altitude economy” as a key catalyst to growth in this sector.
| Forecaster | Timescale of forecast | CAGR | Value |
| GM Insights | 2023-2032 | 45.0% + | USD10 billion |
| MarketsandMarkets | 2023-2030 | 62.1% | USD10.7 billion |
| SNS Insider | 2022-2030 | 61.4% | USD11.05 billion |
| Prophesy Market Insights | 2024-2034 | 59.0% | USD36.76 billion |
| ASD Reports[1] | 2023-2033 | 20.29% | USD623.6 million |
The vertiports market was valued at USD 400 million in 2023 and is anticipated to grow at a CAGR of over 40% between 2024 and 2032, according to GM Insights and will reach USD10 billion by 2032. There’s a growing trend of private investors and venture capital firms pouring money into vertiport development.
“Based on the location, the vertiports market is segmented into ground-based, rooftop/elevated, and floating,” according to GM Insights. “The rooftop/elevated segment represents the fastest growing segment, with a CAGR of over 45% between 2024 and 2032. Rooftop and elevated vertiports are increasingly being integrated into existing urban infrastructure, such as commercial buildings, parking garages, and high-rise structures. This strategic approach maximizes the use of available space in densely populated cities and minimizes the need for new land development….Based on solution, the market is segmented into landing pads, terminal gates, ground support equipment, charging stations, ground control stations, and others. The landing pads segment dominated the market in 2023 and is expected to reach over USD4 billion by 2032….
“The vertiports market is experiencing unprecedented growth in North America and is expected to reach USD 3.5 billion by 2032. North America is poised to become a leader in the market, driven by rapid urbanization and advancements in urban air mobility (UAM). In the U.S., the demand for vertiports is escalating, particularly in urban centers with high population densities and significant commuter traffic. Cities are increasingly seeking solutions to reduce road congestion and enhance connectivity through air mobility.”
The conclusion that the rooftop/elevated section of the market will be initially the fastest growing is somewhat at odds with all the plans by major eVTOL manufacturers to start operations from existing aeronautical facilities such as airports and heliports. The Federal Aviation Administration is quite clear on this….”initial AAM operations will leverage existing infrastructure like airports and heliports (with modifications”). Certainly the engineering, design and certification requirements, along with the changes needed to local authority and national building regulations (including fire hazard regulations) for rooftop AAM operations would suggest these structures are still many years away.
There are also some unconventional figures in most of the other major forecasts – with one analyst suggesting USD400 million was spent on vertiport development last year and another suggesting expenditure on vertiports will be USD500 million this year. Given that there are only a handful of operational vertiports in place around the world and only one country (Dubai) with a full set of vertiport certification criteria (rather than guidance material) developed it is hard to see where these figures come from.
The 2024 Vertiports Market report from MarketsandMarkets forecasts the vertiports market will grow from USD 0.4 billion in 2023 to USD 10.7 billion by 2030, at a CAGR of 62.1% from 2023 to 2030. The report says that growing technological advancements and smart city initiatives are driving the growth of the vertiports market.
According to the report: “Based on solution, the charging stations segment is estimated to have the highest CAGR during the forecast period.”
“The charging stations segment is projected to grow at the highest CAGR in the vertiports market during the forecast period. The AAM infrastructure is experiencing significant expansion as numerous cities worldwide are dedicating resources to establish vertiports, designated areas for air taxis, and eVTOL aircraft to take off and land. This, in turn, is driving the need for specialised amenities like charging stations, landing pads, and passenger facilities.
MarketandMarkets is also adamant about the rooftop/elevated sector have the highest growth rate. “Based on location, the rooftop/elevated segment is estimated to have the highest CAGR in the forecasted period.
“The rooftop/elevated segment is projected to grow at the highest CAGR in the vertiports market during the forecast period. These vertiports offer an innovative solution for advanced air mobility by utilizing existing infrastructure in densely populated areas. They provide a convenient and space-efficient location for eVTOL operations, reducing the need for extensive ground space. The driving factors behind the rooftop/elevated vertiports segment are the increasing demand for efficient urban transportation, advancements in eVTOL technology, and the scarcity of available land for constructing traditional vertiports….Based on regions, the North America segment is estimated to have the largest share in 2023.
According to a July 2024 press release from Prophecy Market Insights the global vertiport market was valued at USD 0.54 billion in 2024 and is expected to reach USD36.76 billion by 2034, growing at a CAGR of 59.0%, by far and away the most optimistic of all forecasts analysed.
Market analyst SNS Insider In December 2023 suggested that the global vertiport market was worth USD 0.24 billion in 2022 “and is projected to surge to USD 11.05 billion by 2030, experiencing a robust compound annual growth rate of 61.4% from 2023 to 2030.”
“The rapid increase in global urbanization has led to unprecedented levels of traffic congestion in major cities. Vertiports present a scalable solution to alleviate ground transportation congestion by introducing a three-dimensional dimension to urban mobility. This addresses the growing need for efficient and time-saving transportation options in densely populated urban areas. The continuous advancements in VTOL technology, particularly in electric propulsion and autonomy, are instrumental in driving the adoption of vertiports. As VTOL aircraft become more sophisticated and attain higher levels of safety and reliability, the demand for dedicated infrastructure to support these vehicles is on the rise. Vertiports play a pivotal role in ensuring the seamless integration of these cutting-edge aircraft into urban airspace. With an increasing focus on environmental sustainability, vertiports contribute to the reduction of carbon emissions in urban transportation. Electrically powered VTOL vehicles are inherently cleaner and more environmentally friendly than traditional modes of transportation.”
The global UAM infrastructure market is anticipated to achieve remarkable growth, with an estimated value of USD623.6 million by 2033, according to a July 2023 study by ASD Reports. “The analysis further reveals that the market is poised to witness a robust compound annual growth rate (CAGR) of 20.29% during the forecast period from 2023 to 2033,” said a press release.
“The UAM infrastructure market is experiencing significant expansion propelled by the increasing advancements in eVTOL (electric Vertical Take-Off and Landing) aircraft and the urgent need for decongestion solutions in major cities worldwide. By capitalizing on emerging trends and leveraging available opportunities, businesses can tap into the substantial growth prospects presented by this thriving market.”
[1] This market report covers the overall global UAM (Urban Air Mobility) infrastructure market and the value figure represents the annual spend.
(Image: Volatus VIE)
