Unmanned Traffic Management Market
Unmanned Traffic Management Market is projected to reach USD 6.903 Billion by 2032 and register a CAGR of 22.64% Forecast 2023-2032.
Unmanned traffic management is a digital air traffic management solution that enables new aerial vehicles such as delivery drones and air taxis to safely access and share future airspace. This adaptive and sophisticated air traffic management technology is anticipated to allow the safe deployment of unmanned aerial vehicles for leisure and commercial uses. The Unmanned Traffic Management Market Report is gaining traction owing to the drone industry’s promising growth rate, recent collaborations, increased demand for enhanced surveillance, product launches, and other advancements in the unmanned traffic management arena.
Another factor influencing the growth of this Unmanned Traffic Management market is the growing need for Unmanned Traffic Management solutions to coordinate independent elevated vehicles in commercial airspace. Due to increasing demand in this industry, Unmanned Traffic Management is predicted to expand effectively in the forecasted period. The primary reason for the rise in global market revenue is the need for UTM Solutions to integrate autonomous aerial vehicles into commercial airspace and increase traffic congestion. These factors aid the leading players in their expansion and development in the Unmanned Traffic Management market.
The COVID-19 epidemic had little impact on the Unmanned Traffic Management sector. Based on all areas, the United States was the least affected by the epidemic, while Asia-Pacific and South America faced challenges such as production network disruptions and functional imperatives. Furthermore, the pandemic’s temporary reduction in safeguard expenditure was another effect of the pandemic on the global economy. However, the Global Unmanned Traffic Management Market revealed a growing interest in drones for transporting clinical supplies and lab testing. Furthermore, these robots cleansed polluted areas with flying splashes and examined public areas in isolation. However, the Global Market is predicted to develop faster in the coming years. Increased governmental and private sector expenditures in developing autonomous traffic management systems are expected to fuel market expansion during the projected period. For example, Terra Drone Corporation obtained a $70 million B-series capital in March 2022 to speed the development of Unmanned Traffic Management, or UTM, an air traffic management system for unmanned aircraft.
Furthermore, advances in unmanned traffic systems and partnerships between private and public market participants to improve the performance and efficiency of UTM are projected to drive the unmanned traffic management market forward. As a result, more advancements and investments in UTM by private and public sector participants will likely move the unmanned traffic management industry forward.
Following of Unmanned Traffic Management Market Players Leonardo S.p.A. (Italy), Frequentis (Austria), Altitude Angel (UK), L3Harris Technologies, Inc. (US), Skyward (US), Lockheed Martin Corporation (US), AirMap, Inc. (US), Nova Systems (Australia), Thales Group (France), Unifly (Belgium)
Other Prominent Players
Raytheon Technologies Corporation (US), PrecisionHawk (US), DJI (China), senseFly (Switzerland), ViaSat, Inc. (US), Analytical Graphics, Inc. (US), Nokia (Finland)
The Unmanned Traffic Management Market Research can be segmented on component, end-use, type, solution, and region. According to the end-use category, the market is further divided into Surveillance, Monitoring, Logistics and transportation, agriculture, and forestry. The solution category is subdivided into surveillance, communication, and navigation infrastructure. The component category is classified based on services, hardware, and software. The type category is divided based on persistent and non-persistent. The region category is further divided into North America, Europe, Asia-Pacific, and the rest of the world.
When each category of the unmanned traffic management market is studied, it is found that the communication infrastructure segment under the solution category dominates the market. In the end-use category, the logistics and transportation section contributes maximum market growth. According to the type category, the persistent section is expected to increase the market growth. The hardware, software, and services segments related to the component category contribute to market growth. The North American segment in the region category dominates the market.
The global analysis of the unmanned traffic management market is expected to reach 4921.44 million US dollars by the end of 2030 at a CAGR of 20.21%. There is an increase in the need for digital systems and scalable air traffic management systems due to the increased adoption of unmanned systems. As the economy of the developed countries is good and progressive, it can afford for research and development activities. The increase in investments also has increased the market growth. The appropriate usage of robots in businesses and common applications the increase in usage of drones by private organizations has resulted in driving the market. The excessive usage of beyond-the-line-of-sight operations results in unmanned traffic management market growth. However, the law restrictions for UAVs may disturb the market growth. The effect of statutory restriction applies to operations of private organizations also. If statutory restrictions are huge, the requirement of robots and traffic and unmanned traffic management would be affected and hamper the market growth.
Unmanned Traffic Management (UTM) Market Research Report: Information By Solution (Communication Infrastructure, Navigation Infrastructure Surveillance Infrastructure and Others), End-Use (Agriculture & Forestry, Logistics & Transportation, Surveillance & Monitoring and Others), Component (Hardware, Software and Services), Type (Persistent and Non-Persistent) and Region (North America, Europe, Asia-Pacific and the Rest of the World) – Forecast till 2030
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