Dublin, Oct. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Unmanned Traffic Management (UTM) Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Unmanned Traffic Management (UTM) Market is likely to grow at a CAGR of around 23.47% during the forecast period, i.e., 2021-26, says the author. It principally owes to the collaboration between Federal Aviation Administration (FAA), NASA, other federal partner agencies & industries to explore the concepts of operation, data exchange requirements, and support framework, enabling multiple BVLOS drone operations at lower altitudes.
Moreover, the growing number of conventional aircraft owing to the changing preferences & increasing disposable income of people shall also increase the air traffic and the demand for UTM in the forecast period.
Besides, end-users like Agriculture & Forestry, Logistics & Transportation, and Surveillance & Monitoring extensively using UAVs & drones shall multiply the air traffic and surge the demand for efficient & safe traffic management systems through UTM during 2021-26.
Companies Mentioned
- Requentis
- Leonardo Finmeccanica
- AirMap
- Altitude Angel
- Thales Group
- Harris Corporation
- Skyward IO
- Lockheed Martin
- Nova Systems
- Unifly
- PrecisionHawk
- Taiwan Fluoro Technology Co. Ltd.
Covid-19 Severely Impacted the Global Unmanned Traffic Management (UTM) Market
The Covid-19 pandemic minimally affected the Global Unmanned Traffic Management (UTM) Market. Of all the regions, the US was the least affected by the pandemic, while Asia-Pacific & South America faced vulnerabilities like supply chain disruptions & operational constraints. Besides, the slightly reduced defense spending on a short-term basis was another effect of the pandemic on the global market.
On the other hand, the Global Unmanned Traffic Management Market displayed an increasing demand for drones for purposes like transportation of medical supplies & lab samples. Additionally, these drones also helped disinfect contaminated areas through aerial sprays and monitored public places during quarantine.
UTM to Display the Highest Demand in the Forecast Period
Based on the Type, the Global Unmanned Traffic Management (UTM) Market segments into Persistent UTM & Non-Persistent UTM. Of both, the Persistent UTM type shows more signs of observing the highest demand rate in the forecast period. It owes to the surging requirements of UAVs & drones, along with their increasing penetration across end-users like agriculture, surveillance & security, and e-Commerce for their high efficiency.
Moreover, the demand for drones across the commercial sector & industrial sector for vehicle traffic monitoring & searching operations & delivery services, respectively, is also propelling the segment growth significantly. Additionally, the rising logistics & transportation activities in developed countries shall further drive the segment to observe its highest demand in the forecast period.
Logistic & Transportation to Witness the Fastest Growth in the Global Unmanned Traffic Management (UTM) Market
Based on the End-User, the Global Unmanned Traffic Management market segments into Agriculture & Forestry, Logistics & Transportation, and Surveillance & Monitoring. Of them all, the Logistics & Transportation end-user is projected to display the fastest market growth in the forecast period. It owes to the growing utilization of drones by several companies to deliver products or people across places.
Transportation through ambulance drones carrying first aid and other medical equipment at the sight of the accident is expanding significantly. Furthermore, the rising adoption of small UAVs weighing less than 25 kgs, especially across e-commerce & retail companies, for delivering goods shall also fuel the segment growth in the forecast period, states the author in their research report, "Global Unmanned Traffic Management (UTM) Market Analysis, 2021."
Market Drivers
The prime factors likely to drive the Global Unmanned Traffic Management (UTM) Market growth in the forecast period include the rising deployment of drones across commercial & civil applications, coupled with the surging focus of unmanned industries on BVLOS operations with an economic value greater than VLOS missions.
Additionally, the market shall present potential growth opportunities for stakeholders like Air Navigation Service providers, Law Enforcement, Communication System Providers, Data Service Providers, Commercial Drone Operators, and UAS Service Suppliers.
Furthermore, the changing regulatory framework for drone operations, coupled with rising participation by private companies, shall also fuel the Global Unmanned Traffic Management (UTM) Market growth in the years to come.
Market Restraints
The most prominent factor restraining the market growth includes the vast government regulations & certifications for UAVs & flying drones to regulate their air traffic & flying zones, thereby hampering the demand for UTMs. This factor shall further reduce the need for UAVs, drones, and air traffic and, in turn, would hinder the UTM market growth.
Regional Landscape
North America to Display the Fastest Market Growth, While Asia-Pacific to Dominate the Market During 2021-26
Geographically, the Global Unmanned Traffic Management (UTM) Market expands across North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Of all the regions, North America accounted for the highest demand for UTM, particularly in the US recently, owing to the rising penetration of Autonomous Aerial Vehicles (AAV) & Unmanned Aerial Vehicles (UAV) across the country.
Additionally, the support from the US defense department also provided incentives, enabling the region to dominate the market. In the coming years, with the mounting drone activities & investments by government agencies in drone BVLOS operations, the air traffic shall surge the demand for Unmanned Traffic Management systems across North America.
On the other hand, Europe is likely to emerge as a region producing remunerative growth opportunities for the market players in the forecast period. It critically owes to the deployment of UAVs and drones across various end-user sectors and the rising number of conventional aircraft. Besides, the supportive government regulations like the European Aviation Safety Agency (EASA) working on finalizing European Union rules for all kinds of unmanned aircraft shall also propel the demand for UTMs in the region. Here, Germany is imposing several regulations permitting BVLO flights when the operator verifies a safe flight record, coupled with drones weighing below 25 kg to fly under 100 meters.
On the other hand, the Asia Pacific region is projected to dominate the market with the largest share in the forecast period. Here, China shall be a prominent player pushing the demand for UTM systems due to its rapid technological advancements and constant infrastructural developments to give an upper edge to the country.
Besides, Australia shall emerge as a competing sector owing to the Civil Aviation Safety Authority (CASA) allowing the employment of drones. Additionally, the country is also allowing drones weighing less than 2kg and can fly within 400ft above unpopulated areas for VLOS operations without a permit.
For more information about this report visit https://www.researchandmarkets.com/r/hcka8k
