Unmanned Traffic Management Market is Estimated to Reach USD 1.9Billion by 2024
The Global Unmanned Traffic Management Market is estimated to reach USD 1.9 Billion by 2024 at a CAGR of 19.9 %.
The unmanned traffic management system (UTM) is a traffic management system designed to view, access and manage air traffic. UTM help to prevent possible crashes that may occur due to moving drones and aerial vehicles. These are mainly used to monitor, surveillance, and navigate the aircrafts and drones, where communications are a key element between operator and system. And thus, it plays vital role in increasing the visual line of sight (VLOS) and beyond the line of sight operation (BVLOS) to provide error-free communication.
Unmanned Traffic Management (UTM) Market: Drivers & Restraints
Growth in Global Air Traffic
The unmanned traffic management market is growing on account of rise in iteration of the domestic and international flights owing to increasing number of air travelers. According to World Bank, the number of passengers carried by aircraft was 4.2 million in 2018, and International Air Transport Association (IATA) has predicted that the passenger number may double to 8.2 billion in 2037. This was attributed to some of the factors such as an increase in tourism, an increase in disposable income, the long-term decline in real air travel costs, and amongst others. Steady growth in air transport has a lead increase in the drones, which communication plays an import role and ensures safe operation. This communication is being carried by unmanned traffic management which is expected to drive the unmanned traffic management market growth.
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Increasing Investment by Government Agencies
Government bodies such as NASA, Federal Aviation Administration (FAA), along with other regulatory authorities are working together in order to explore the concept of operation in air space. Unmanned traffic management is an ecosystem for uncontrolled operations. For instance, in Feb 2019, the Federal Aviation Administration (FAA) and the National Aeronautics and Space Administration (NASA) have partnered with private companies to develop a cloud-based traffic management system that would handle unmanned aerial vehicles (UAV) operating in the national airspace. The Unmanned Aircraft Systems Traffic Management platform enables drone users to coordinate airspace use through a UAS Service Supplier provided they have been registered with the FAA. This, investments by government agencies may drive the unmanned traffic management market.
Strict Regulation by Aviation Authorities
The drone industry is experiencing steady growth with the use of unmanned traffic management in various sectors such as mining, construction, agriculture, surveying, and exploration of resources. Different manufactures may have different specification of manufacturing the unmanned traffic management (UTM). However, stringent regulation imposed by the FAA for UAS operation may hamper the growth of unmanned traffic management market.
Unmanned Traffic Management (UTM) Market: Key Segments
- By Solution: Navigation Infrastructure, Communication Infrastructure, and Surveillance Infrastructure
- Based on Type: Persistent, and Non-persistent
- By End-Use segment: Logistics & Forestry, Logistics & Transportation, and Surveillance & Monitory
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis
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List of the leading companies operating in the Unmanned Traffic Management (UTM) market include:
- PrecisionHawk (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Harris Corporation
- Lockheed Martin Corporation
- Nova System
- Thales Group
- Leonardo S.p.A
- Frequentis AG
- AirMap, Inc.
- Skyward IO, Inc.
- Altitude Angel Limited
- Other Key Companies
Unmanned Traffic Management (UTM) Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Unmanned Traffic Management (UTM) Market, by Solution
Unmanned Traffic Management (UTM) Market, by Type
Unmanned Traffic Management (UTM) Market, by Application
- Agriculture & Forestry
- Logistics & Transportation
- Surveillance & Monitory
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Unmanned Traffic Management (UTM) Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- UNMANNED TRAFFIC MANAGEMENT MARKET BY SOLUTION, Market Size in USD Million (2017–2024)
- UNMANNED TRAFFIC MANAGEMENT MARKET BY TYPE, Market Size in USD Million (2017–2024)
- UNMANNED TRAFFIC MANAGEMENT MARKET BY APPLICATION, Market Size in USD Million (2017–2024)
- UNMANNED TRAFFIC MANAGEMENT MARKET BY REGION, Market Size in USD Million (2017–2024)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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