UAM (Urban Air Mobility) refers to urban air traffic that utilizes the air at low altitudes, and is a generic term for aircraft, operation, and services. It is known that more than 100 UAM development projects are currently in progress. The reason for paying attention to the UAM industry is that it is expected to reduce the social and economic losses caused by urban concentration. The problem of urban concentration is already a global problem, and it is expected to get worse in the future.
To make UAM a reality, there are many problems that need to be solved. These include institutional arrangements for aircraft development and flight approval requirements, infrastructure construction, and social acceptance. This is a challenge that private companies cannot solve alone. Collaboration with the government as well as companies such as manufacturers, operators, and infrastructure suppliers is essential.
First of all, the development of new airframes is essential for the UAM industry to blossom. This is because it is difficult to implement UAM with existing aircraft. The key conditions that UAM airframes must meet are as follows. Vertical take-off and landing should be possible and noise and pollutant emissions should be low.
Fixed-wing aircraft are not suitable for UAM as they cannot take off and land vertically and require a runway for takeoff. Rotary wing aircraft are capable of vertical take-off and landing, but are not suitable for UAM due to their high noise. In particular, the aircraft we currently use uses an internal combustion engine, so it emits a lot of pollutants, which is basically unsuitable for UAM, the future transportation method.
The reason why the electric power dispersive vertical take-off and landing (eVTOL) is attracting attention is because it is most suitable for this condition. As eVTOLs can take off and land vertically, they do not require a runway unlike fixed-wing aircraft. It is quieter than a rotary wing aircraft and has no emissions because it uses electric power. In fact, most of the aircraft currently under development are eVTOLs, and 95 development projects are in progress. In the long term, eVTOL is expected to become an important means of movement within and between cities.
Autonomous flying will be essential for UAM to become fully popular. Fares are important for popularization of services, as autonomous flights are essential to achieve price competitiveness. The initial fare for commercialization is $5.73 per mile, about one-third cheaper than the existing helicopter fare, but it is expected to be slightly more expensive than a taxi.
Fares are expected to drop to US$1.86 per mile due to increased utilization and occupancy rates going forward, which is similar to that of taxis. Of course, considering the time value that can reduce what used to take 2 hours by car to 20 minutes by using UAM, even at this level, price competitiveness is sufficient. In particular, if autonomous flight becomes possible in the future, the fare is expected to drop to the level of $0.44 per mile, which is analyzed to be cheaper than the current cost of using a private car ($0.464 to $0.608 per mile).
The world's first commercial UAM service is likely to be launched in the United States in 2024 by Joby. Joby is preparing to be listed on the New York Stock Exchange (NYSE) through the merger of SPAC, with Toyota and Uber as major shareholders. Korea aims to implement commercial service in 2025, and it is highly likely that Hanwha Systems will be the first player. Hanwha Systems is developing eVTOL with its US subsidiary, Overair.
