Advanced air mobility

The concept of flying cars keeps moving closer to reality. A variety of different electric vertical takeoff and landing vehicle (eVTOLs) prototypes are now being tested, and the global urban air mobility (UAM) market is projected to reachover $15 billionby 2030. Several companies, includingAlef Aeronautics,Archer,Volocopter, andJoby Aviation, have received FAA exemptions to operate in U.S. airspace for research and development and havebegun piloting test flightsin different cities. A Chinese eVTOL company recentlycompletedthe first passenger demonstration of its vehicle. This technology has attractedairlinesin particular, which are partnering with eVTOL companies to establish routes between airports and downtowns.