New York, Nov. 22, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Unmanned Traffic Management Market Size, Share, Report, Demand, Growth Strategy, Industry Trends and Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Component, Application, End User, and Geography," the unmanned traffic management market size is expected to grow from USD 0.86 billion in 2022 to USD 3.21 billion by 2030; it is expected to grow at a CAGR of 17.8% from 2022 to 2030.
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Global Unmanned Traffic Management Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 0.86 Billion in 2022 |
| Market Size Value by | USD 3.21 Billion by 2030 |
| Growth rate | CAGR of 17.8% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| No. of Pages | 148 |
| No. of Tables | 115 |
| No. of Charts & Figures | 92 |
| Historical data available | Yes |
| Segments covered | Type, Component, Application, and End Use |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends, and trends |
| Companies Covered | Lockheed Martin Corp, Leonardo SpA, Thales SA, Raytheon Technologies Corp, Altitude Angel Ltd, Frequentis AG, AirMap Inc, Unify NV, OneSky Systems Inc, and Thales SA. Technologies,Zipline |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Global Unmanned Traffic Management Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPAD00002268/ |
Global Unmanned Traffic Management Market: Competitive Landscape and Key Developments
Lockheed Martin Corp, Leonardo SpA, Thales SA, Raytheon Technologies Corp, Altitude Angel Ltd, Frequentis AG, AirMap Inc, Unify NV, OneSky Systems Inc, and Thales SA are a few of the key players operating in the unmanned traffic management market.
March 2022: ORKID partnered with Unifly, a leading Unmanned Traffic Management (UTM) technology provider, in a series of test operations.
February 2020: Civil Aviation Authority of Singapore (CAAS) and Airbus signed a Memorandum of Understanding (MOU) to promote urban air mobility (UAM) in Singapore. The partnership aims to bring UAM services and platforms into Singapore's urban environment, enhancing industrial productivity and the country's regional connectivity.
Global Unmanned Traffic Management Market: COVID-19 Impact Overview
The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on the movement of vehicles and humans. Air travel ban was one of the stringent rules set by governments across the globe during the first half of 2020. These bans led the aviation industry to halt operations and experience the lowest revenue generation during the period. The significant loss in revenues resulted in limited investments by airline operators in traffic management solutions. This factor showcased a fall in the demand for unmanned traffic management solutions, which hampered the growth of the unmanned traffic management market.
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Unmanned Traffic Management Market: End User Overview
Based on end use, the unmanned traffic management market is segmented into agriculture & forestry, logistics & transportation, surveillance, and others. The logistics and transportation segment dominated the market in 2021 due to high adoption of UASs in logistic services.
The North America unmanned traffic management market is segmented into three major countries—the US, Canada, and Mexico. In 2021, the US led the market with a substantial revenue share, followed by Canada. Further, Canada is expected to register the highest CAGR in the North America unmanned traffic management market from 2022 to 2030. The increasing demand for drones in North America for various commercial applications, such as communication, navigation, surveillance, and monitoring, is expected to drive the demand for unmanned traffic management systems. Also, the supportive government initiatives from Federal Aviation Administration (FAA), one of the largest transportation agency, regulating the civil aviation industry is anticipated to bolster the demand for unmanned traffic management systems across North America. Also, the rising demand for last-mile delivery solutions in eCommerce sector, food delivery services, and medical emergency services is pushing the demand for drone logistics, in turn, augmenting the demand for unmanned traffic management solutions. Companies engaged in the last mile and small package delivery are significantly deploying drones to cut costs and improve operational efficiency. For instance, Prime Air delivery drones are capable of shipping out parcels directly from warehouses to customers within 30 min. Hence the growing deployment of drones in transportation application is necessitating the need for unmanned traffic management system, which helps drive the market growth
The increasing demand for drones in commercial, logistics, and aviation industries is anticipated to drive the demand for unmanned traffic management system. Also, the growth prospects in air mobility with significant adoption in autonomous aerial vehicles, electric aircraft, flying taxis and delivery drones are driving the need for unmanned traffic management. The increased importance of last mile delivery has further become evident in transportation activities, augmenting the demand for delivery drones and electric aircrafts. The long-standing freight shippers are incorporating or upgrading technology to improve the last mile support. The primary focus is on improving reliability, enhancing customer experience, securing traffic, and increasing overall competitiveness in the mobility ecosystem. Thus, such factors are strengthening the demand for unmanned traffic management systems, which is further driving the market growth.
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Global Unmanned Traffic Management Market - Key Findings:
Based on application, the unmanned traffic management market is segmented into communication, navigation, surveillance & monitoring, and others. The communication segment held the largest share in the unmanned traffic management market in 2021. By end use, the unmanned traffic management market is segmented into agriculture and forestry, logistics & transportation, surveillance, and others. The logistics and transportation segment dominated the unmanned traffic management market due to major adoption of UASs in logistic services. The key players profiled in the unmanned traffic management market study are Lockheed Martin Corp, Leonardo SpA, Thales SA, Raytheon Technologies Corp, Altitude Angel Ltd, Frequentis AG, AirMap Inc, Unify NV, OneSky Systems Inc, and Thales SA. The unmanned traffic management market report provides detailed market insights, which helps the key players to strategize their growth in the coming years.
The growing initiatives from key players and governments for escalating the adoption of urban air mobility is aiding the unmanned traffic management market growth. In May 2022, Airbus partnered with new Italian flag carrier ITA to develop the unmanned air mobility market in Germany. The initiative was intended to bring together several factors to develop vehicles, infrastructure, and unmanned traffic management services. Also, in July 2022, the EU approved a European consortium coordinated by Future Mobility Campus Ireland (FMCI) in Shannon to develop aerial unmanned traffic management (UTM) systems. Thus, such developments are increasing air traffic and propelling the demand for unmanned traffic management systems in Europe. Also, in April 2021, the European Commission adopted the U-space package, three regulations that together create conditions necessary for both drones and manned aircraft. Therefore, European countries are on the fast track to implement the drone eco-systems across the region. Large aerospace players such as Honeywell and Rolls-Royce have already established specialist units for urban air mobility to explore technologies including electric and hybrid systems as well as other opportunities such as actuation and autonomous flight systems for unmanned aerial vehicles.
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In-vehicle Video Surveillance Market – In-vehicle video cameras are the latest technology developed for fleets. This technology is also known as onboard surveillance systems. It is incorporated into a vehicle to evade threatening scenarios in public places. It also helps in reducing crime rates and ensures greater security of users at crowded places.
Vehicle Navigation Systems Market – One of the most critical systems in an automobile for directing the driver when driving is the navigation system. It not only organises vehicle movement but also provides information on hotels, gas stations, route choices, traffic highlights, and commute time. The navigation system also includes Bluetooth and Wi-Fi networking, allowing drivers to use a variety of functions such as audio, hands-free calling and messaging, and more.
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