Over the past few years, our traditional ground-based transportation system has encountered various challenges, including overuse, traffic congestion, growing urban populations, high infrastructure costs, and disorganization. Unmanned aerial vehicles, commonly referred to as drones, have significantly impacted aerial communication in both the academic and industrial sectors. Therefore, researchers and scientists from the aviation and automotive industries have collaborated to create an innovative air transport system that solves traditional transport problems. In the coming years, urban air mobility (UAM) is expected to become an emerging air transportation system that enables on-demand air travel. UAM is also anticipated to offer more environmentally friendly, cost-effective, and faster modes of transportation than ground-based alternatives. Owing to the unique characteristics of personal air vehicles, ensuring reliable communication and maintaining proper safety and security, air traffic management, collision detection, path planning, and highly accurate localization and navigation have become increasingly complex. This article provides an extensive literature review of recent technologies to address the challenges UAM faces. First, we present UAM communication requirements in terms of coverage, data rate, latency, spectrum efficiency, networking, and computing capabilities. Subsequently, we identify the potential key technological enablers to meet these requirements and overcome their challenges. Finally, we discuss open research issues, challenges, and future research directions for UAM deployment.