Unmanned Traffic Management Market Predicted to Grow at a CAGR of 15.7% 2031, Report

According to a new report published by Allied Market Research, The unmanned traffic management market was valued at $0.78 billion in 2021, and is estimated to reach $3.1 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.

Unmanned Traffic Management (UTM), also known as Unmanned Aircraft System Traffic Management, is an air traffic management system being developed by NASA, the Federal Aviation Administration (FAA), various federal agencies, and industry partners. Its goal is to autonomously manage the operations of Unmanned Aerial Systems (UAS). UTM provides essential services, information architecture, software capabilities, data exchange protocols, performance standards, and infrastructure to oversee low-altitude, uncontrolled UAS operations. As a digital air traffic management solution, UTM is designed to securely integrate new aerial vehicles, like delivery drones and air taxis, into future airspace. This flexible and advanced approach is expected to accelerate the safe and widespread use of unmanned aerial vehicles for both recreational and commercial purposes.

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North America dominates the market, in terms of revenue, followed by, Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global unmanned traffic management market share in North America in 2020, owing to increase in R&D activities; technological developments by key players; and increase in government support. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of unmanned aerial vehicles or drones across several Asian nations, for instance, China, India, Japan, South Korea, and Australia, among others.

Promising growth rate of the drone market and public and private developments and investments in UTM are expected to drive the unmanned traffic management market during the forecast period. However, privacy and security concerns related to data and technological challenges in implementation of UTM are anticipated to hamper the growth of the market. Moreover, increase demand for improved surveillance and improved government support are expected to offer lucrative opportunities for the market in future.

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By component, the unmanned traffic management market is segregated into hardware and software. The software segment accounted for the highest revenue in 2020, owing to high demand for unmanned traffic management software, that can enable the development of future-centric unmanned traffic management across the globe.

On the basis of application, the market is bifurcated into agriculture and forestry, logistics and transportation, and surveillance and monitoring. The logistics and transportation segment garnered the highest revenue in 2020, owing to high demand for making suitable ecosystem for the easy usage of drones for logistics and transportation applications.

Depending on end user, the unmanned traffic management market is fragmented into drone operators or pilots, recreational users, airports, and emergency service and local authorities. The drone operators or pilots segment was the highest revenue contributor in 2020, owing to increased demand for unmanned traffic management services by drone operators or pilots.

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KEY FINDINGS OF THE STUDY

1. By component, the hardware segment is expected to register significant growth during the forecast period.

2. On the basis of application, the agriculture and forestry segment is anticipated to exhibit significant growth in future.

3. Depending on end user, the emergency service and local authorities segment is projected to lead the global unmanned traffic management market.

4. Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

The key players operating in the global unmanned traffic management market include Airbus, Altitude Angle, Droniq GmbH, Intelligent Automation (IAI), Leonardo S.p.A., One sky, PrecisionHawk Inc., Thales Group, Terra Drone, and Unifly nv.

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