Unmanned Traffic Management Market Worth $3.59 Billion by 2028 | Strong Demand from Defense Sector to Underpin Growth Prospect

Companies Covered in Unmanned Traffic Management Market are Frequentis (Austria), Leonardo S.p.A. (Italy), Thales Group (France), L3Harris Technologies Inc (U.S.), Lockheed Martin Corporation (U.S.), Airbus SE (France), Raytheon Technologies Corporation (U.S.), Nova Systems (Australia), Unifly (Belgium), PrecisionHawk (U.S.), Altitude Angel Limited (U.K.) and other key players


Pune, India, May 16, 2022 (GLOBE NEWSWIRE) -- The unmanned traffic management market size was valued at 0.79 billion in 2020. The market is expected to rise 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 Insights™ has deep-dived into these insights in its latest research report, titled, “Unmanned Traffic Management Market, 2021-2028.”

According to the study, unmanned traffic management (UTM) services have set the trend to streamline services, data exchange protocols, information architecture and software functions. Prominently, NASA has upped its efforts on research to explore UTM capabilities; other organizations are likely to follow suit. Stakeholders expect logistic transportation, oil & gas industry, defense sector and disaster management to seek UTM solutions.

COVID-19 Impact

Bullish Demand from Health Sector to Underpin Industry Forecast

At the time when the COVID-19 pandemic had a massive toll on various business verticals, the outbreak had a mixed impact on unmanned traffic management service providers. Governments and other stakeholders infused funds into the healthcare sector, auguring well for the adoption of UAVs and drones. To illustrate, in June 2021, Zipline claimed it delivered around 2.6 million COVID-19 vaccine doses in Ghana. Leading companies are expected to bolster their portfolios to expand their presence across untapped areas.

Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/sample/unmanned-traffic-management-market-106651

Major Players Profiled in the Report:

  • Frequentis (Austria)
  • Leonardo S.p.A. (Italy)
  • Thales Group (France)
  • L3Harris Technologies Inc (U.S.)
  • Lockheed Martin Corporation (U.S.)
  • Airbus SE (France)
  • Raytheon Technologies Corporation (U.S.)
  • Nova Systems (Australia)
  • Unifly (Belgium)
  • PrecisionHawk (U.S.)
  • Altitude Angel Limited (U.K.)

Segments

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

In terms of component, the market is segregated into software, hardware, and services.

On the basis of solution, the market includes navigation infrastructure, communication infrastructure, surveillance infrastructure, and others.

With respect to end-use, the market is segmented into surveillance & monitoring, logistics & transportation, agriculture & forestry, and others.

On the basis of geography, the market is segmented into North America, Asia Pacific, Europe, and the Rest of the World.

Report Coverage

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

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/unmanned-traffic-management-market-106651

Drivers and Restraints

Strong Demand from Defense Sector to Underpin Growth Prospect

Industry participants are likely to bank on the defense sector to foster the unmanned traffic management market growth. Exponential demand for UTM services will be pronounced across Russia, China, Saudi Arabia, and India. Besides, developments in air traffic management will expedite the penetration of next-gen military drones. To illustrate, in September 2021, the Indian Army inked a contract of approximately USD 13.7 million with Alpha Design for the procurement of more than 100 strike drones. The drones would be made and supplied by Alpha Design in a joint venture with Elbit Security Systems.

Stakeholders envisage media, advertisement, entertainment, and precision agriculture sectors to exhibit strong demand for technology. However, rigorous government regulations may challenge industry players gearing to expand their penetration.

Regional Insights

Rising Footfall of Drone Manufacturers to Propel Asia Pacific Market

Leading companies are poised to infuse funds into emerging and advanced economies in the Asia Pacific on the back of the growing penetration of drone manufacturers. So much so that the trend for crop monitoring and aerial photography has instilled confidence among stakeholders. The Asia Pacific unmanned traffic management market share will witness an upward growth trajectory due to increased demand for precision farming.

Major players project the U.S. and Canada to provide lucrative opportunities against the backdrop of investments in the defense landscape. The North America market size accounted for USD 0.30 billion in 2020 and will grow with the increasing penetration of drones across surveillance and logistic applications. Leading companies, such as Lockheed Martin and L3 Harris, are likely to expand their portfolios to gain a competitive edge.

The Europe market forecast will be strong owing to the rising penetration of navigation infrastructure, communication, and surveillance systems. End-users are likely to augment their investments across the U.K., France, and Germany following the demand for advanced agriculture solutions and surveillance systems.

Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/unmanned-traffic-management-market-106651

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights-Impact of COVID-19 Pandemic on Global Unmanned Traffic Management Market
      • Impact of COVID-19 Pandemic on Global Unmanned Traffic Management Market
      • Steps Taken by Industry/Companies/Government to Overcome the Impact
      • Key Development in the industry in Response to COVID-19 Pandemic
      • Potential Opportunities due to COVID-19 Outbreak

TOC Continued…!

Speak to Our Expert:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/unmanned-traffic-management-market-106651

Competitive Landscape

Leading Companies to Emphasize Strategic Approaches to Expand Footprint

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

Key Industry Developments

  • January 2021- The National Oceanic and Atmospheric Administration (NOAA) selected Black Swift Technologies to develop commercially viable technology enabling GPS-denied navigation of UAS to leverage long distance, Beyond Visual Line of Sight (BVLOS) flights.
  • November 2021- Thales Group presented EagleSHIELD to protect and secure sensitive sites and large-scale events in urban areas.

Have a Look at Related Research Insights:

Unmanned Aerial Vehicle (UAV) Market Size, Share & COVID-19 Impact Analysis, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027

Unmanned Ground Vehicle Market Size, Share & COVID-19 Impact Analysis, By Mobility (Wheeled, Tracked, Legged, and Hybrid), By Size (Small, Medium, Large, Very Large, and Extremely Large) By Mode of Operation (Tethered, Teleoperated, and Autonomous), By System (Payload, Controller System, Navigation System, Power System, and Others), By Application (Military, Commercial, Law Enforcement, and Federal Law Enforcement), and Regional Forecast, 2021-2028

Unmanned Helicopter Market Size, Share & COVID-19 Impact Analysis, By Product (Small (0-20 lbs), and Medium (21-55 lbs)), By Application (Military [ISR, Combat, Search & Rescue, Transportation, Naval Support, and Border Support], Government Agency [Planning, Inspection, Surveying, Public Safety, and Search & Rescue], Industrial [Planning, Inspection, Surveying]), and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn Facebook Twitter