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Gasping for Air
With investors largely choosing to stay away from the
advanced air mobility (AAM) sector, eVTOL
manufacturers face an uncertain future
By Arun Sivasankaran
he advanced air mobil- has shifted toward finding new but the United States
ity (AAM) industry has a funding sources and developing
T serious cash problem. the complex ecosystem that is is shaping up to be the
required to support advanced air epicentre of the AAM
Funding for AAM, which flowed mobility (AAM) flights. industry. In 2022, 60% of
in 2021, is now barely a trickle.
Companies are running out of all AAM patents originated from
the U.S., a figure that jumped to
cash, and with funding being The Nerve Centre
scarce, industry experts predict 71% by 2023. Challenging eco-
nomic conditions in Europe and
consolidation within the industry, The Asia Pacific region
as well as several companies is seeing plenty of China have affected investment
in AAM; China’s share of patent
being unable to meet their orig-
inal timelines for commercial activity in the sector filings dropped from 16% in 2022
to 8% last year while just 7% of
operations. with several projects the total patents filed in 2023
Even as various electric vertical currently underway were from Europe.
take-off and landing (eVTOL) in countries such as
aircraft manufacturers compete China, Singapore, Topping the list of
to achieve type certification and
wrest early control of the market, Australia, Indonesia, AAM companies with
the nascent industry’s focus India and South Korea, the highest number of
ASIAN AIRLINES & AEROSPACE MARCH - APRIL 2024 | 29
