(IT-NEWSWIRE.COM, May 04, 2021 ) The report analyzes the Unmanned Traffic Management Market on the basis of component, (hardware equipment, software tools, and services) wherein services is further divided into security services, flight services, and information services; solution (communication infrastructure, navigation infrastructure, surveillance infrastructure); end-use (agriculture & forestry, logistics & transportation, surveillance & monitoring); type (persistent, non-persistent) and region (North America, Europe, Asia Pacific, and the Rest of the World). The unmanned traffic management market is estimated to be USD 538.2 Million in 2018 and is projected to reach USD 1,960.6 Million by 2025, at a CAGR of 20.28% from 2018 to 2025.
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The report provides in-depth market intelligence regarding the market dynamics and major factors influencing the growth of the unmanned traffic management market (drivers, opportunities, and industry-specific challenges), along with an analysis of micromarkets, with respect to individual growth trends, prospects, and their contribution to the overall market. The report also covers competitive developments, such as partnerships, expansions, new product launches, agreements, and research & development activities in the unmanned traffic management market, in addition to the business and corporate strategies adopted by key market players.
Based on end use, the surveillance & monitoring segment of the UTM market is projected to be the fastest-growing end-use segment during the forecast period. The growth of this segment can be attributed to the rise in the need for continuous surveillance and monitoring by small unmanned aerial vehicles in developed countries.
Based on component, the software segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing use of drones in a variety of tasks, such as search & rescue operations, infrastructure monitoring, and package delivery services.
Based on solution, the surveillance infrastructure segment of the market is projected to grow at the highest CAGR during the forecast period. Radar, Wide Area Multilateration (WAM), Multilateration (MLAT), ADS-B, mobile telecom networks, Internet of Things (IoT), Near Field Communication (NFC), and Long Range (LoRa) are some of the technologies that can be utilized in the construction of surveillance infrastructure.
Based on type, the persistent segment of the unmanned traffic management market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing adoption of drones by the e-commerce and medical industries along with the increasing use of drones in logistics and transportation applications to monitor wide geographic areas.
North America is estimated to lead the Unmanned Traffic Management Market in 2018 and is projected to continue its dominance during the forecast period owing to the rise in drone activity, increase in investments by government agencies on drone BVLOS operations, and the presence of key players such as AirMap, Lockheed Martin, and Harris Corporation in the region. It is projected to grow at the highest CAGR during the forecast period.
Key Market Players
Major players operating in the Unmanned Traffic Management market include Frequentis (Austria), Leonardo Finmeccania (Italy), AirMap (US), Altitude Angel (UK), Thales Group (France), Harris Corporation (US), Skyward IO (US), Lockheed Martin (US), Nova Systems (Australia), Unifly (Belgium), and PrecisionHawk (US). New product developments, partnerships, and contracts were the main strategies adopted by these players to retain their position in the market.
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