Global Unmanned Traffic Management (UTM) Market Analysis and Forecast, 2019-2028 - In-depth Market Report by RationalStat
Market Overview and Dynamics: Increasing adoption of drones for a variety of applications is augmenting the need for UTM
The global UTM market is expected to grow at a robust CAGR of around 16% during the forecast period of 2022-2028. The increasing need for drones in logistics & transportation and soaring usage for recreational activities are augmenting the demand for UTM solutions across the globe. Moreover, the rapid urbanization has led to increased road congestion which has surged the need for integrating Unmanned Aerial Vehicles (UAVs) into commercial spaces. This will accelerate the demand for the proper implementation and adoption of UTM solutions.
Further, the rise in terrorist activities and increasing security concerns are anticipated to surge the demand for drones in security & surveillance applications. Governments of major economies are investing heavily in their respective defense budgets for security concerns. Moreover, the governments of these economies are also engaged in designing appropriate regulatory frameworks and policies to oversee flying zones and air traffic activities to ensure that only the respective governments have access to data on drone activities in order to minimize security threats. This will entail improved coordination of capabilities between aviation agencies and countries.
• On the basis of Solution Type, Surveillance Infrastructure is anticipated to grow at a significant rate due to high demand from governments around the world for patrolling and early detection of potential terrorist activities.
• On the basis of End Users, demand for drone operators/pilots will continue to lead the market as it requires professionally trained pilots to operate Unmanned Aerial Vehicles (UAVs).
• Based on the Region, North America is expected to dominate the global UTM market due to the favorable investment by government bodies in various drone operations.
Competition Analysis: Significant market consolidation is expected in the near future
The global UTM market experiences intense competition on account of the presence of numerous established players in the market. As governments of several nations increase their spending on drones and UAVs, companies are coming up with new technologies and innovations to satisfy the requirements of the government. However, governments across the globe are firm on the regulations and policies to restrict the use of UAVs. Product innovations, launches, and partnerships are the identified industry trend in the global UTM market. For instance,
• In May 2022, OneSky entered into a partnership with ITGlobe, one of the leading providers of global aerospace engineering and design services. Through this partnership, OneSky's verified UTM systems solutions are expected to be made available in India exclusively through ITGlobe, which is devoted to guaranteeing the secure integration of UAS operations and Advanced Air Mobility (AAM) operations in the Indian national airspace for all stakeholders.
• In Mar 2021: Altitude Angel unveiled its airspace management solution GuardianUTM Enterprise. The product is aimed at offering a one-stop solution to empower the airport to start designing and providing UTM Services for drone companies and drone operators, using Altitude Angel's proven digital authorization and flight management technology.
Some of the leading players involved in the production and marketing of Gaming include Leonardo S.p.A, Altitude Angel Ltd., Qualcomm Inc., Thales Group, Lockheed Martin Corporation, Skyward, Frequentis, Unifly, L3Harris Technologies Inc., AirMap Inc., Nova Systems, Nokia Corporation, Analytical Graphics, Precision Hawk, Airbus SE, Droniq GmbH, One Sky Systems Inc., Terra Drone Corporation, and Raytheon Technologies Corporation among others.
RationalStat has segmented the Global UTM Market on the basis of component type, type, solution type, end user, and region
• By Component Type
• By Type
• By Solution Type
o Communication Infrastructure
o Navigation Infrastructure
o Surveillance Infrastructure
• By End User
o Emergency Service and Local Authorities
o Drone Operators or Pilots
o Recreational Users
• By Region
o North America
o Latin America
Rest of Latin America
o Western Europe
Rest of Western Europe
o Eastern Europe
Rest of Eastern Europe
o Asia Pacific
ASEAN (Indonesia, Vietnam, Malaysia, etc.)
Rest of Asia Pacific
o Middle East & Africa
Rest of the Middle East & Africa
For more information about this report: https://store.rationalstat.com/store/global-utm-market-investment-growth-opportunity-analysis/
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