Global Unmanned Traffic Management Market is predicted to reach USD 5.46 billion at a CAGR of 22.64% during the forecast period:
Market Research Future (MRFR) has published a cooked research report on the “Global Unmanned Traffic Management Market” that contains information from 2022 to 2030. The Global Unmanned Traffic Management Market is estimated to register a CAGR of 22.64% during the forecast period of 2022 to 2030.
MRFR recognizes the following companies as the key players in the Global Unmanned Traffic Management Market— Leonardo S.p.A., Frequentis, Altitude Angel, L3Harris Technologies Inc, Skyward, Lockheed Martin Corporation, AirMap Inc, Nova Systems, Thales Group, Unifly.
Unmanned Traffic Management (UTM) Market Highlights
Global Unmanned Traffic Management Market is accounted to register a CAGR of 22.64% during the forecast period and is estimated to reach USD 5.46 Billion by 2030.
Unmanned Traffic Management (UTM) is a system that facilitates the safe integration of unmanned aircraft, or drones, into the airspace. It encompasses technologies, protocols, and procedures that enable the coordination, monitoring, and management of drone operations. UTM aims to ensure the safety and efficiency of both manned and unmanned aircraft by providing operators and authorities with situational awareness, airspace monitoring, and real-time tracking capabilities. This framework allows for the seamless integration of drones into the existing aviation ecosystem, promoting responsible and regulated drone operations across various sectors while minimizing the risk of conflicts and ensuring compliance with regulations.
Segment Analysis
The Global Unmanned Traffic Management Market has been segmented based on Component, Type, Technology, and Vertical.
Based on Components, the market is segmented into Hardware, Service, and Software. The Hardware category dominates the Unmanned Traffic Management market due to the critical role it plays in providing essential infrastructure, including sensors, communication devices, ground control stations, and other physical components necessary for managing and monitoring unmanned aircraft operations.
Based on Type, the market is segmented into Image Sensors, Motion Sensor, Proximity Sensor, Pressure Sensor, Magnetometer, Humidity Sensor, Temperature Sensor, Touch Sensor, Accelerometers, Gyroscope, Flow Sensor and others. The Image Sensors category dominates the Unmanned Traffic Management market due to its crucial role in providing real-time visual data for situational awareness, obstacle detection, and collision avoidance in drone operations.
Based on Technology, the market is segmented into Wi-Fi, Bluetooth, ZigBee, NFC, Z-Wave, RFID others. The RFID category dominates the Unmanned Traffic Management market, While RFID (Radio Frequency Identification) technology can be utilized in certain aspects of UTM, such as drone identification and tracking, it is not the sole dominant category in the UTM market.
Based on Vertical, the market is segmented into Industrial IoT, Consumer IoT, and Commercial IoT. The Industrial IoT category dominates the Unmanned Traffic Management market due to its integration of sensors, connectivity, and data analytics, enabling efficient management, coordination, and monitoring of unmanned aircraft operations for enhanced safety and productivity.
Regional Analysis
The Global Unmanned Traffic Management Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Unmanned Traffic Management Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Unmanned Traffic Management Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Unmanned Traffic Management Market comprises of Middle East, Africa, and Latin America.
The North American region holds the largest market share globally, dominating due to the presence of countries like the US, Canada, and Mexico, where health-conscious consumers drive market demand.
In 2021, North America captured the largest market share in the Unmanned Traffic Management (UTM) industry. This dominance can be attributed to the proactive strategies adopted by key stakeholders like Lockheed Martin and L3 Harris Group from the U.S. and Canada, indicating their potential to shape the market. Moreover, the increasing utilization of unmanned aerial vehicles (UAVs) for military, surveillance, and logistical purposes has contributed to the expansion of the North American market.
Meanwhile, Europe is projected to exhibit the highest growth rate in 2021. The presence of prominent players such as Thales Group and Leonardo Finmeccanica, known for their strong market tactics and global client base, is expected to drive Europe's growth at a significant compound annual growth rate (CAGR). As Europe's aviation industry aims to regain its position as a global leader, the development of new technologies becomes crucial and apparent.
Key Findings of the Study
- The Global Unmanned Traffic Management Market is expected to reach USD 5.46 Billion by 2030, at a CAGR of 22.64% during the forecast period.
- North America held the largest market share in the Unmanned Traffic Management (UTM) industry, primarily due to the proactive strategies implemented by key stakeholders such as Lockheed Martin and L3 Harris Group. With their aggressive practices, the region is expected to maintain dominance in the market.
- Based on the Type, the Market has been segmented into Image Sensors holding the largest market in 2022.
- Leonardo S.p.A., Frequentis, Altitude Angel, L3Harris Technologies Inc, Skyward, Lockheed Martin Corporation, AirMap Inc, Nova Systems, Thales Group, Unifly.
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Companies Covered | 15 |
Pages | 128 |
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