Global Unmanned Traffic Management Market is Expected to Witness Speedy Growth of USD 28.35 billion by 2027 : Fior Markets

·4 min read
Fior Market Research LLP
Fior Market Research LLP

Unmanned Traffic Management Market by Component (Hardware, Software, Service), Type (Persistent, Non-Persistent), Solution (Communication, Navigation, Surveillance), End Use (Agriculture, Logistic, Surveillance), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast to 2027

Newark, NJ, May 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global unmanned traffic management market is anticipated to grow from USD 6.47 billion in 2019 to USD 28.35 billion by 2027, at a CAGR of 20.28% during the forecast period 2020-2027. North America is expected to dominate the market share of UTM system which can be attributed to rising investments by the government and private sector into the usage of drones. Canada and the USA are the major countries that contribute to the market share in the region. The presence of large players like Harris Corporation, AirMap Inc. and, Lockheed Martin contribute to the dominant position of the region. The market is expected to expand in the Asia-Pacific region at a rapid growth rate.

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Some of the notable players in the unmanned traffic management market include Management Frequentis, AirMap, Leonardo, Thales Group, Altitude Angel, Skyward IO, Harris Corporation, Nova Systems, Lockheed Martin, PrecisionHawk and, Unifly. The increasing investments in research and development of advanced technological innovations and launching of new products across the globe are the major strategies adopted by the players. PrecisionHawk, a drone and data company, has estimated that Beyond Visual Line of Sight (BVLOS) will reduce the data acquisition costs by more than10 times. The drones with BVLOS will be helpful for tree crops and will be able to provide deep insights for the agricultural sector.

This study delivers a comprehensive analysis of components, types, end-use, solution, and regions. The components segment can be divided into software, hardware, and service components. The segment is dominated by service components to supply flight information to the UTM and drone operators. On the basis of type, UTM can be divided into persistent and non-persistent unmanned traffic management system. Persistent management system will grow faster because of the increasing use of drones in the industrial sector in searching operations and delivery services, and improvement in the use of logistics and transportation services in the developed markets. Based on end-use, the segment is divided into agriculture, surveillance, and logistics. The logistics and transportation segment will dominate the market due to increasing adoption of drones and rise and logistics activities in the developed countries like the UK, and the USA. On the basis of solution, the market can be divided into communication, navigation and, surveillance. The communication segment is expected to dominate the market due to rising adoption of beyond line of sight operation (BVLOS) and increase the visual line of sight to ensure hassle less communication between the operators.

The use of drones in the logistics and transportation applications is increasing at a rapid pace that will fuel the growth of this market. The rising use of unmanned aircraft system in the private sector and governmental operations will contribute to the growth of the market. The expensive process and strict government regulations could be possible restraints for the growth of the market. Across the globe, many manufacturing companies are trying to enter the market; however, high capital requirement is acting as a barrier to their entry.

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About the report:

The global unmanned traffic management market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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About Fior Markets

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others.

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