Unmanned Traffic Management Market Set for Rapid Growth During 2022–2028
Stratview Research, a global market intelligence firm, has launched a new research report on Unmanned Traffic Management Market by End-Use Type (Agriculture & Forestry, Logistics & Transportation, Surveillance & Monitoring, and Others), by Solution Type (Communication Infrastructure, Navigation Infrastructure, Surveillance Infrastructure, and Others), by Type (Non-Persistent UTM, Persistent UTM), by Component Type (Hardware Equipment, Software, and Services), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the analysis, 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.
What is unmanned traffic management?
Unmanned Traffic Management is referred to as a traffic management system that controls operations that are separate from the Air Traffic Management of the Federal Aviation Administration. The system has its used in areas of agriculture, surveillance, logistics, and others.
Unmanned Traffic Management is known to offer solutions for communication, navigation, and surveillance mainly along with many other activities depending upon the requirements. The system is available in persistent and non-persistent types and the hardware, software, and other components of the system are aimed at offering a smoother experience for the end users.
COVID-19 Impact
The global pandemic covid-19 shook the whole world, and the tremors were felt across every industry. Lockdowns and restrictions in the movement of vehicles and humans alike largely impacted the aviation industry. The huge loss in revenue was accompanied by lesser investment in traffic management by the airlines ultimately declining the growth of the unmanned traffic management market.
Companies profiled -
Below given is the list of key players mentioned in the report -
- Airmap, Inc.
- Altitude Angel Limited
- Analytical Graphics
- SZ DJI Technology Co., Ltd.
- Frequentis
- Harris Corporation
- Lockheed Martin Corporation
- Nova Systems
- Nokia Corporation
- Precisionhawk
Market evaluation -
The COVID-19 outbreak has adversely affected most of the end-use industries and is still spreading and taking major economies in its grip and has diminished the market conditions. Experts at Stratview Research stay in touch with the key players in the market to keep themselves updated with all the upcoming trends, challenges, market strategies which can be helpful for businesses to survive during this pandemic.
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.
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