The market research report, entitled Unmanned Traffic Management Market shows good possibilities in the Unmanned Traffic Management Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.
Global Unmanned Traffic Management Market Forecast:
The unmanned traffic management market was estimated at USD 572.6 million in 2021 and is likely to grow at a CAGR of 20.46% during 2022-2028 to reach USD 2134.76 million in 2028.
Market Dynamics
The growth of the unmanned traffic management market is primarily driven by-
- The unprecedented growth is owing to the growing employment of drones in logistics transportation and other commercial applications,
- The escalating need for UTM solutions to assimilate self-governing aerial vehicles in commercial airspace.
Some linchpins in the market are:
- Airmap, Inc.
- Altitude Angel Limited
- Analytical Graphics
- SZ DJI Technology Co., Ltd.
- Frequentis
- Harris Corporation
- Lockheed Martin Corporation
- Nova Systems
- Nokia Corporation
- Precisionhawk
Unmanned Traffic Management Market Segmentation:
The report segments based on demographics, geographics, benefits, and volume, etc, have different driving factors and identify the most-attractive segments and sub-segments. Unmanned Traffic Management Market segmentation will not only help marketers to be more efficient in terms of time, money, and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Based on the end-use type, the market is segmented as agriculture forestry, logistics transportation, surveillance monitoring, and others. The logistics transportation segment dominated the market in 2021 and is likely to continue its leading position during the forecast period. The growth of this segment is owing to the growth in the application of small Unmanned Aerial Systems (below 25 kg in weight) by e-commerce and retail companies.
Based on the solution type, the market is segmented as communication infrastructure, navigation infrastructure, surveillance infrastructure, and others. The communication infrastructure segment is expected to remain dominant during the forecast period. The growth of this segment is driven by the growing acceptance of Beyond Line of Sight Operations (BVLOS), which demand precise communication between UTM and drone operators.
Based on the type, the market is segmented as non-persistent UTM and persistent UTM. The persistent UTM segment is estimated to register higher growth in the coming five years. This growth can be attributed to the increase in logistics and transportation activities in developed economies, such as the US, the UK, and Switzerland.
Based on the component type, the market is segmented as hardware equipment, software, and services. The services segment commanded the market in 2021 and is likely to remain dominant during the forecast period as well. The prime focus of unmanned traffic management will be on service providers delivering flight and security information to UTM as well as drone operators.
In terms of regions, North America dominated the market in 2021 and is estimated to maintain its dominance in the coming five years, driven by the growth in drone activities, the rise in investments by various government agencies on drone BVLOS operations, and the regional presence of major global giants, such as AirMap, Lockheed Martin Corporation, and Harris Corporation. The North American region is expected to witness the highest growth during the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
For inquiries, Contact:
Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176
About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.
