Drone Traffic Management Market Current Scenario with Future Trends Analysis to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Drone Traffic Management Market- (By Type (Persistence, Non-Persistence), By Component (Persistence, Non-Persistence), By Solution (Communication Infrastructure, Surveillance Infrastructure, Navigation Infrastructure), By End-User (Communication Infrastructure, Surveillance Infrastructure, Navigation Infrastructure)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Drone Traffic Management Market is valued at US$ 110.12 Mn in 2022, and it is expected to reach US$ 1317.72 Mn by 2031, with a CAGR of 32.1% during a forecast period of 2023-2031.

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The system, known as drone traffic management, consists of a coordinated set of services that cooperate according to established criteria. Unmanned traffic management does not require the use of integrated control. The framework may accommodate more specialized cooperatives that can adjust to the changing needs and the increasing economic sector thanks to its structures, which function on a global standard of distributed authority. The demand for drone traffic management solutions was fueled by the rapid adoption of drones for various uses, including aerial photography, surveillance, logistics, agriculture, and surveying. Effective traffic management systems became increasingly necessary as more drones were in the air. Drone traffic management solutions have evolved due to the advancement of cutting-edge technology, including artificial intelligence (AI), machine learning, and sensor systems. These technologies made better real-time data processing, traffic monitoring, and decision-making skills possible.

List of Prominent Players in the Drone Traffic Management Market:
• Airmap. Inc
• Delair-Tech
• Altitude Angel Limited
• Analytical Graphics Inc
• SZ DJI Technology Co. Ltd
• Frequentis AG
• Harris Corporation
• Lockheed Martin Corporation
• Leonardo S.P.A
• Nova Systems
• Thales Group
• Nokia Corporation
• PrecisionHawk Inc
• Sensefly Innovations Private Limited
• AiRXOS.
• DroneUp LLC

Market Dynamics:
Drivers-
Increased spending on drones has resulted from an increase in the threat of terrorism and security concerns around the world, which is encouraging the use of drones for industrial surveillance and is anticipated to increase demand for drone traffic management systems to carry out drone operations in a safer manner. Drones can operate in stealth, at night, from any position, and with ease of deployment. Drone use in law enforcement and commercial surveillance activities is rising due to these advantages. Increased investments in drone traffic management solutions result from the growing interest in the drone sector. Governments and businesses alike have realized how critical it is to provide effective traffic management systems to support the expansion of the drone sector.

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Challenges:
The biggest barrier to widespread drone use in most nations continues to be regulation, even though technological progress is necessary to support the UTM concept. Subject to FAA and local rules, drones may be used for both commercial and recreational purposes in the United States. Any new system, procedure, or operation that could impact the security of ATM operations must comply with international norms and standards, which demand that it undergo a risk assessment and mitigation process to enable a secure introduction and operation. The primary criteria for utilizing drones in the airspace of various countries are the consent of the relevant governments and the rules they establish to assure good air traffic management, adequate data support, effective controller training, and societal acceptance of drones by the people.

Regional Trends:
Europe's Drone Traffic Management Market is Likely to register a major market share and is projected to grow at a high CAGR in the near future. Drone use has been expanding throughout Europe in a number of industries, including aerial photography, delivery services, agriculture, infrastructure inspection, and public safety. Effective drone traffic control solutions are now more necessary than ever, thanks to this increase in drone usage. In order to enable the safe and effective operation of drones in the airspace, the region has witnessed considerable improvements in technology related to drone traffic management, including artificial intelligence, real-time data analytics, and communication systems.

Recent Developments:
• In June 2022, an MoU was inked by Frequentis Singapore Pte Ltd and CAELUM Co., Ltd, a developer in the South Korean aerospace and defence industry, to cooperate on Urban Air Mobility (UAM) and Unmanned Traffic Management (UTM) systems in that country.
• In Dec 2021, DroneUp announced the purchase of AirMap. Global airspace management was combined with Droneup's network, fleet, and infrastructure through the AirMap acquisition. A complete and open airspace traffic management ecosystem was promoted by DroneUp's acquisition of Airmap.

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Segmentation of Drone Traffic Management Market-
By Type-
• Persistence
• Non-Persistence
By Component-
• Persistence
• Non-Persistence
By Solution-
• Communication Infrastructure
• Surveillance Infrastructure
• Navigation Infrastructure
• Others
By End-User-
• Communication Infrastructure
• Surveillance Infrastructure
• Navigation Infrastructure
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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InsightAce Analytic Pvt. Ltd.
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This release was published on openPR.