The unmanned traffic management market is worth $3.59 billion per

Pune, India, May 16, 2022 (GLOBE NEWSWIRE) — The unmanned traffic management market The size was valued at $0.79 billion in 2020. The market is expected to grow from $0.92 billion in 2021 to $3.59 billion by 2028 at a CAGR of 21.4% during the forecast period 2021-2028. Fortune Business Insight™ has furthered this knowledge in its latest research report, titled “Unmanned Traffic Management Market, 2021-2028.”

According to the study, unmanned traffic management (UTM) services started the trend of streamlining services, data exchange protocols, information architecture and software functions. In particular, NASA has intensified its research efforts to explore UTM capabilities; other organizations will likely follow. Stakeholders expect transportation logistics, oil and gas industry, defense sector and disaster management to seek UTM solutions.

Impact of COVID-19

Bullish Healthcare Demand to Support Industry Forecast

While the COVID-19 pandemic has had a huge impact on various industries, the outbreak has had a mixed impact on unmanned traffic management service providers. Governments and other stakeholders have injected funds into the health sector, boding well for the adoption of UAVs and drones. To illustrate, in June 2021, Zipline claimed to have delivered approximately 2.6 million doses of COVID-19 vaccine to Ghana. Leading companies should strengthen their portfolios to expand their presence into untapped areas.

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Key Players Featured in the Report:

  • Frequentis (Austria)
  • Leonardo SpA (Italy)
  • Thales Group (France)
  • L3Harris Technologies Inc (USA)
  • Lockheed Martin Corporation (USA)
  • Airbus SE (France)
  • Raytheon Technologies Corporation (USA)
  • Nova Systems (Australia)
  • Unifly (Belgium)
  • Precision Hawk (USA)
  • Altitude Angel Limited (UK)

segments

Based on type, the market is segmented into non-persistent and persistent.

In terms of components, the market is divided into software, hardware and services.

Based on the solution, the market includes navigation infrastructure, communication infrastructure, monitoring infrastructure and others.

Regarding end use, the market is segmented into monitoring & control, logistics & transportation, agriculture & forestry, and others.

Based on geography, the market is segmented into North America, Asia-Pacific, Europe and Rest of the World.

Report cover

The report includes quantitative and qualitative analysis to provide a comprehensive view of the global market. The report also delves into both top-down and bottom-up approaches to provide a strategic approach on product mapping of major players and new entrants. Primary sources, such as interviews with key stakeholders and opinion leaders, will validate the authenticity of the report. The report includes secondary sources including annual reports, press releases, SEC filings, and website reports to bolster the authenticity of the report.

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Drivers and Restrictions

Strong demand from the defense sector to support growth prospects

Industry players are likely to bet on the defense sector to drive the growth of the unmanned traffic management market. The exponential demand for UTM services will be pronounced in Russia, China, Saudi Arabia and India. Additionally, developments in air traffic management will accelerate the penetration of next-generation military drones. To illustrate, in September 2021, the Indian Army signed a contract worth around $13.7 million with Alpha Design for the purchase of more than 100 strike drones. The drones would be manufactured and supplied by Alpha Design in a joint venture with Elbit Security Systems.

Stakeholders see the media, advertising, entertainment, and precision agriculture sectors as having high demand for the technology. However, stringent government regulations can challenge industry players preparing to expand their penetration.

Regional outlook

Rising Footfall of Drone Manufacturers to Propel Asia-Pacific Market

Major corporations are poised to inject funds into emerging and advanced Asia-Pacific economies thanks to the growing penetration of drone manufacturers. So much so that the trend towards crop monitoring and aerial photography has instilled confidence among stakeholders. Asia-Pacific unmanned traffic management market share will witness an upward growth trajectory owing to increased demand for precision agriculture.

Major players predict that the United States and Canada will provide lucrative opportunities in the context of investments in the defense landscape. The North America market size was worth USD 0.30 billion in 2020 and will grow with the growing penetration of drones in surveillance and logistics applications. Large companies, such as Lockheed Martin and L3 Harris, are likely to expand their portfolios to gain competitive advantage.

The European market forecast will be strong due to the increasing penetration of navigation infrastructure, communications and surveillance systems. End users are likely to increase their investments in the UK, France and Germany following demand for agricultural solutions and advanced monitoring systems.

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Detailed Table of Contents:

  • Introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • key ideas
    • Major Industry Developments – Major Contracts and Agreements, Mergers, Acquisitions and Partnerships
    • Latest technological advances
    • Analysis of the five forces of carriers
    • Supply chain analysis
  • Quantitative Insights – Impact of COVID-19 Pandemic on Global Unmanned Traffic Management Market
      • Impact of COVID-19 Pandemic on the Global Unmanned Traffic Management Market
      • Measures taken by industry/business/government to overcome the impact
      • Key development in the industry in response to the COVID-19 pandemic
      • Potential opportunities due to the COVID-19 outbreak

TOC Continued…!

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Competitive landscape

Leading Companies Emphasize Strategic Approaches to Expanding Their Footprint

Industry players are likely to strengthen their portfolios, with mergers and acquisitions, product rollouts, R&D activities and technological advancements gaining traction. Current trends suggest that major players may invest in strategic expansion during the forecast period.

Key Industry Developments

  • January 2021– The National Oceanic and Atmospheric Administration (NOAA) has selected Black Swift Technologies to develop commercially viable technology enabling GPS-less navigation of UAS to take advantage of long-range beyond visual line of sight (BVLOS) flights.
  • November 2021– The Thales group presented EagleSHIELD to protect and secure sensitive sites and large-scale events in urban areas.

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