Selbyville, Delaware,, June 26, 2023 (GLOBE NEWSWIRE) --
The unmanned traffic management market valuation is expected to reach USD 5 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing safety and security concerns will complement the UTM industry dynamics. Safety is a critical aspect of unmanned aircraft system operations, especially when drones share the airspace with manned aircrafts. UTM systems manage and mitigate potential safety risks by providing real-time monitoring, collision avoidance, and airspace coordination. Additionally, supportive policies by the government and aviation authorities worldwide are increasing the number of drones in the airspace, creating a favorable environment for the UTM market to thrive.
With respect to component, the unmanned traffic management market is segmented into hardware, software, and services. The hardware segment will amass substantial gains by 2032 as a result of widespread usage of these components in the safe & efficient operation of unmanned aerial vehicles (UAVs) in the airspace. Hardware components include ground control stations, radars, sensors, communication equipment, and navigational aids. These devices provide real-time data, enable detection & tracking of UAVs, accurate positioning, and ensure seamless communication between UAVs, ground control stations, and other airspace users. These factors are favoring the product adoption.
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Considering application, the unmanned traffic management market is divided into communication infrastructure, navigation infrastructure, surveillance infrastructure, and others. The surveillance infrastructure segment is projected to observe a remarkable growth from 2023 to 2032 owing to burgeoning demand for efficient traffic monitoring and control mechanisms. The surveillance infrastructure aids in investigation and analysis in the event of accidents, incidents, or unauthorized activities involving unmanned aircraft. It offers recorded data and evidence that can be used to reconstruct events, determine the cause of accidents, and improve safety measures.
Europe unmanned traffic management market is primed to record high revenue share by 2032. The countries in the region have been proactive in developing regulatory frameworks for drone operations. The European Union Aviation Safety Agency has introduced regulations such as the European Union Aviation Safety Agency (EU) 2019/947 regulations, commonly known as the "EASA UAS Regulation," which provides guidelines for drone operations. These rules emphasize the importance of UTM systems to ensure safe integration of drones into the airspace.
Some of the key players profiled in the unmanned traffic management market report include AirMap Inc., Airbus SE, Altitude Angel Limited, Frequentis, Droniq GmbH, Intelligent Automation (IAI), Lockheed Martin Corporation, Leonardo S.P.A., L3Harris Technologies, Inc., OneSky Technology Pte. Ltd., Nova Systems, Precisionhawk Inc., Thales, Terra Drone Corporation, and Unifly NV. These companies engage in organic growth tactics such as partnerships and acquisitions of UTM specialized firms to stay ahead in the industry.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Unmanned Traffic Management Market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Type trends
2.6 Application trends
2.7 End-Use trends
Chapter 3 Unmanned Traffic Management Business Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls & challenges
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
