Press release
Unmanned Traffic Management Market Takes Flight with Insights into Size, Trends, and Opportunities for Airspace Control || Droniq GmbH, Raytheon Company, Lockheed Martin Corporation
Unmanned Traffic Management Market
The Business Research Company offers in-depth market insights through Unmanned Traffic Management Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The unmanned traffic management market size has grown exponentially in recent years. It will grow from $1.32 billion in 2023 to $1.6 billion in 2024 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to rise in uav (unmanned aerial vehicle) adoption, growth in commercial drone applications, expansion of e-commerce, expansion of drone delivery services, rise in drone swarming application.
The unmanned traffic management market size is expected to see exponential growth in the next few years. It will grow to $3.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to increase in bvlos (beyond visual line of sight) operations, rise in emergency response applications, surge in urban air mobility initiatives, implementation of remote id technologies, expansion of utm for agricultural applications. Major trends in the forecast period include technological innovations in communication systems, integration of ai and machine learning in utm, advances in drone technology, collaboration with telecom and tech companies, robotics advancements in unmanned aerial vehicle.
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Market Segmentation:
The unmanned traffic management market covered in this report is segmented -
1) By Type: Persistent, Non-Persistent
2) By Component: Hardware, Software, Services
3) By Application: Aviation, Homeland Security, Agriculture, Logistics And Transportation, Other Applications
Major Driver - Surge In Drone Activities Accelerates Growth Of Unmanned Traffic Management Market
Increasing drone activities are expected to propel the growth of the unmanned traffic management market going forward. Drones are remotely piloted aircraft or autonomous systems that can fly without a human onboard. The increasing number of drone activities increases air traffic, which can be managed using unmanned traffic management systems. For instance, in March 2023, according to Flytrex, an Israel-based drone delivery start-up, Flytrex completed over 21,350 drone deliveries, which was a seven-fold increase as compared to 2021, resulting drone service user base increased by 765% during 2021-2022. Therefore, increased drone activity is driving the unmanned traffic management market.
Competitive Landscape:
Major companies operating in the unmanned traffic management market report are Droniq GmbH, Raytheon Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., DJI Technology Co. Ltd., Thales Group, L3 Harris Technologies, Harris Corporation, Leonardo S.P.A., Collins Aerospace, Saab AB, Indra Sistemas S.A., Cubic Corporation, Frequentis AG, Skye Air Limited, DroneUP LLC, Nova Systems LLC, General Electric Company, Airbus SE, Intelligent Automation (IAI), Dedrone, Terra Drone Corporation, PrecisionHawk Inc., Altitude Angle Limited, Unifly NV, Aeronyde Corporation, AirMap Inc., Airware
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Top Trend - Product Innovations Transforming The Unmanned Traffic Management Market
Major companies operating in the unmanned traffic management market are developing new products such as cloud-based aerial traffic management systems to gain a competitive edge in the market. Cloud-based aerial traffic management systems refer to centralized and networked solutions that utilize cloud computing technology to manage and coordinate the airspace activities of unmanned aerial vehicles (UAVs) or drones. For instance, in February 2023, Skye Air Mobility Private Limited, an India-based autonomous logistics solutions company, launched an innovative unmanned air traffic management system named Skye UTM. The system is a cloud-based solution that integrates unmanned air traffic with manned aviation airspace. Skye UTM provides situational awareness, autonomous navigation, and risk assessment for drone and aerial mobility operators. The system digitally establishes communication with drones, enhancing safety and communication across the airspace. Skye UTM provides regulators and pilots with valuable situational awareness. The platform imports data from the government's Digital Sky platform, aiding drone operators in planning flights in Indian airspace.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Unmanned Traffic Management Market Characteristics
3. Unmanned Traffic Management Market Trends And Strategies
4. Unmanned Traffic Management Market - Macro Economic Scenario
5. Unmanned Traffic Management Market Size And Growth
…..
27. Unmanned Traffic Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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