Launching NJ’s Advanced Air Mobility Market

 

The NARTP is being positioned as a national leader in the emerging AAM market, which is projected to create more than 25,000 jobs and $152 million in annual state tax revenue for New Jersey over the next 15 years.

In February of 2022, the NARTP retained Deloitte Consulting to provide the NARTP with a comprehensive, step-by-step, strategic guide to launching and developing the Advanced Air Mobility (AAM) industry in New Jersey, with the goal of positioning the park as a national leader in the emerging AAM market. Deloitte delivered this Strategic Roadmap in August of 2022, putting the NARTP on a clear path forward in furthering the research and development that our tenants have already begun into the launch of a dynamic and lucrative AAM industry right here in the NARTP.

“This is a once-in-a-generation opportunity for economic development that is starting in Atlantic County as New Jersey reestablishes itself as a leader in technology and innovation,” said NARTP President, Howard Kyle.

According to the AAM Strategic Roadmap, “New Jersey and Atlantic County have an opportunity to develop and grow the emerging AAM market through the advancement of R&D and operational capabilities for commercial passenger and cargo operations.” Private AAM companies will be recruited as tenants of the NARTP where they will work alongside the FAA and NASA to nurture and develop AAM capabilities while developing the required physical and regulatory infrastructure for the industry to grow and thrive.

AAM offers the potential for safe, sustainable, affordable, and accessible mobility for both passengers and cargo. It integrates air travel as part of day-to-day transportation, whether through delivery of goods or transportation of passengers in air taxis within cities and throughout regions. AAM aircraft are designed to be quieter than current aircraft and run on electric or hybrid-electric power, offering a “green” alternative to traditional transportation methods, and reducing the impact of noise pollution and emissions on the environment.

The AAM Strategic Roadmap from Deloitte asserts that New Jersey’s proximity to New York and Philadelphia, make it “an economically viable location for the early adoption of AAM.” The report also cites the “unique combination of aviation assets and accelerators” located within the New Jersey Aviation Innovation Hub in Atlantic County as additional factors that position the Garden State to become a leader in the U.S. AAM market. The NJ Aviation Innovation Hub is home to the FAA William J. Hughes Technical Center, a designated Smart Airport Test Bed Facility at Atlantic City International Airport, and the 58-acre NARTP.

“We’ve known for some time that the aviation sector in Atlantic County is ripe for investment, growth, and innovation, and represents a key factor in the diversification of the southern New Jersey economy,” said NARTP Chairman Mark Loeben. “This strategy guide now gives the NARTP more leverage, tools, and direction to implement a multi-phased approach to enabling AAM in New Jersey. This is just one of the numerous aviation-related opportunities we are pursuing at the NARTP, and it is certainly one of the most exciting.”

Deloitte has conducted several studies regarding AAM and is recognized as an expert in this area. Deloitte’s Emerging Infrastructure Technology Services group has helped state, federal, and commercial clients define their AAM strategies and roadmaps based on their unique opportunities, challenges, and needs. Deloitte combines innovative and world-class capabilities to assess the impacts, benefits and opportunities resulting from emerging technology ecosystems.

Deloitte’s research indicates that U.S. aerospace and defense companies are poised to lead the nascent global industry, which is predicted to become mainstream in the 2030s. Deloitte considers AAM to be “the next inflection point in the aerospace industry’s ongoing evolution,” and is estimated to reach $115 billion annually by 2035, employing more than 280,000 workers in high-paying jobs.

Click on the image/link below to view/download the NARTP AAM Strategic Roadmap file.

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