Dublin, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The "Drone Traffic Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global drone traffic management market is predicted to proliferate substantially during the forecast period, thanks to the rapid growth in digitalization and increasing adoption of advanced technologies by enterprises to meet the need for growing business along with the increase in adoption of drones in commercial & government applications. As traffic congestion has become a major problem nowadays.
The increasing traffic jams have severely impacted the lives of citizens globally. Traffic management allows businesses to improve air quality by reducing air pollution generated by slow-moving traffic, helps in maintaining traffic speed control, and reduces delays to public transport.
Additionally, the rise in demand for real-time traffic information to drivers and passengers is increasing the demand for traffic management globally. To maintain traffic flow and safety management, businesses are increasingly utilizing smart traffic management solutions to control traffic and monitor performance to reduce infrastructure damage. Numerous innovations carried out in cloud computing, and 5G infrastructure technologies are expected to enhance the features of drone traffic management. This, in turn, is expected to drive the market growth during the forecast period.
A drone or unmanned traffic management system (UTM) is referred to as the traffic operating system of an unmanned ariel vehicle (UAV), which is required to integrate communication effectively & efficiently and control multiple UAS fleets into existing airspace. UTM can provide a more digital, interoperable, and scalable approach to drone tracking and real-time transmission of videos, images, and sensor data.
A drone or unmanned traffic management system (UTM) is a key enabler for the future of unmanned aircraft system (UAS)/remotely piloted aircraft system (RPAS), autonomous passenger drones, and verticals take-off and landing (VTOL) air systems. Though the market is growing fast, new applications continue to grow value for customers.
As drones have proven to be an important tool, new unmanned aircraft systems (UAS) are being demonstrated across the world daily with enhanced technical capabilities to push the boundaries of the unmanned aviation industry. These technological advancements have enabled UAS to conduct various complex operations, including but not limited to surveillance, surveying, spraying, mapping, inspections, and deliveries, especially in low-level airspaces.
Such use cases have empowered stakeholders and businesses across different industries, such as agriculture, construction, disaster management, energy, GIS, healthcare, insurance, security, mining, oil and gas, and telecom, to improve their efficiency and deliver enhanced services. It is natural that progressively the density of UA in the airspace is going to increase the range of potential airborne drones.
Increase in Uptake of Drones in Commercial & Government Applications
The major factor driving the drone traffic management market is the increase of UAVs and drones in commercial appliances primarily logistics & transportation, greater demand for drone surveillance in military and armed forces, and drone monitoring in agriculture and forestry.
Companies find ever more innovative ways to gather information and improve logistics. With this growth comes a tremendous responsibility to put a globally harmonized traffic management system in place. Despite all these potential benefits and as skies become the next frontier, there will be a need for more advanced and successful UTM systems to facilitate growth in the elevated mobility market, streamline operations and ensure public safety and security.
Increasing Focus on Existing Traffic Upgradation
The current surge in traffic, thanks to the high uptake of vehicles, has increased the demand for effective traffic management with security and safety, which has caused businesses to reevaluate their traffic control systems. An effective traffic management system is becoming increasingly popular among countries that are eager to embrace congestion-free traffic.
Enterprises are enabling smart traffic management systems to centralize the control function to moderate traffic conditions by analyzing real-time traffic situations, improvising traditional ticketing with an automated E-bill payment system and congestion-free traffic, and helping in eradicating pollution. This has provided an edge to several applications' performance and offered a high-quality user experience, contributing to the growth in business productivity, agility, and control of the infrastructure costs.
Digitalization and Increasing Adoption of Advanced Technologies Driving Market
The rising uptake of advanced technologies and growing digitalization are propelling the growth of the traffic management market globally. The involvement of enterprises in adopting artificial intelligence (AI), machine learning (ML), and virtual reality (VR) applications during the IT process requires enhanced network capacity. In many companies, improving the efficiency of platforms and apps used by businesses for marketing, social media, and e-commerce initiatives is one of the main goals of digital transformation.
Increase Number of Cloud-based Solutions to Propel Market
With the growing benefits of integrating cloud services, enterprises are rapidly adopting cloud-based solutions into their infrastructure. This technology is helping in delivering an effective cloud connection to the network. Traffic Management simplifies secure site-to-cloud connections helping to meet the bandwidth demand.
Competitive Landscape
- 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
Report Scope:
Global Drone Traffic Management Market, By Type:
- Persistence
- Non-Persistence
Global Drone Traffic Management Market, By Component:
- Hardware
- Software
- Service
Global Drone Traffic Management Market, By Solution:
- Communication Infrastructure
- Surveillance Infrastructure
- Navigation Infrastructure
- Others
Global Drone Traffic Management Market, By End-User:
- Transportation & Logistics
- Surveillance & Monitoring
- Agriculture & Forestry
- Defense & Space
- Others
Global Drone Traffic Management Market, By Region:
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Austria
- Norway
- Middle East & Africa
- Israel
- Qatar
- Saudi Arabia
- UAE
- South America
- Brazil
- Argentina
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/fs3v4o
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