An Outlook on the Growth of the Global Unmanned Traffic Management Market During the Forecast Period
According to MarkNtel Advisors' research report, the Global Unmanned Traffic Management (UTM) Market is likely to grow at a CAGR of 23.47% during the forecast period, i.e., 2021-26. An Unmanned Traffic Management system facilitates growth across the elevated mobility market, streamlines operations, and ensures public safety & security.
The development of UTM shall identify roles, responsibilities, information architecture, data exchange protocols, infrastructure, performance requirements, and software functions. This extensive utilization of the UTM system, owing to the increasing risks & technological advancements, makes it crucial for the prospect of drones & UAVs.
Additionally, commercial drones and their legal use are related to UTM systems for their reliability to efficiently detect & avoid uncontrolled flying and eliminate the risk of damage to people & property. These technologies are crucial for the integration of drones into the national airspace. Hence, various public & private organizations are investing significantly in the UTM to get their drones "airworthy" via BVLOS, thereby serving the overall market growth.
1. What are the current and future trends in the Global Unmanned Traffic Management (UTM) Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across various regions, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Unmanned Traffic Management (UTM) Market?
5. What are the customer orientation, purchase behavior, and expectations from the Unmanned Traffic Management (UTM) service providers across the globe?
Moreover, drones proved their indispensability amidst the Covid-19 pandemic, which resulted in their skyrocketing demand across different regions. Hence, it shall further make a direct impact on the Global UTM Market growth significantly, further states the research report, "Global Unmanned Traffic Management (UTM) Market Analysis, 2021."
Surveillance & Monitoring to Reign with the Largest Market Share
Based on the End-User, the Global Unmanned Traffic Management Market segments into Agriculture & Forestry, Logistics & Transportation, and Surveillance & Monitoring. Of them all, the Surveillance & Monitoring end-user shows maximum signs of dominating the market with the largest share in the forecast period. It primarily owes to the drone operations overcoming the limitations of the traditional methods for surveillance & monitoring due to their simplicity, mobility, and greater coverage area. With the growing application & adoption of drones, the demand for UTM is also surging significantly across several regions.
Additionally, the high resolution & real-time updates are efficient sources for the command & control center to assist with road monitoring, traffic guidance, identify & track vehicles, read license plates, traffic activity analysis, etc. Besides, drones can also be equipped with different payloads like HD & thermal cameras for day & night surveillance and awareness about on-ground situations during emergencies, thereby ensuring consumer safety on roads. Hence, with these facilities, the demand for drones is projected to boom for Surveillance & Monitoring and fuel the UTM market in the forecast period.
Security Services to Observe the Highest Demand During the Forecast Period
Based on the Component, the Global Unmanned Traffic Management Market bifurcates into Hardware, Software, and Services, where Services further segment into Security Services, Flight Services, and Information Services. Of them all, Security Services are more likely to display the highest demand in the forecast period. It owes to the growing accountability of the UTM to control the airspace and manage the traffic flows with tactical & strategic levels for emergence, coupled with the air traffic management mechanism, which is strategically responsible for the planning & segmentation of available airspace.
Besides, the increasing responsibility of the UTM to observe, monitor, and provide surveillance of the airspace is also propelling the need for security services. The UTM sends alerts to the aircraft providing situational awareness through the data of available geo-fencing & traffic information, & weather, thereby increasing the security significantly. Hence, the demand for security services is likely to propel in the coming years, reveals MarkNtel Advisors in their research report, "Global Unmanned Traffic Management (UTM) Market Analysis, 2021."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Unmanned Traffic Management (UTM) Market are Requentis, Leonardo Finmeccanica, AirMap, Altitude Angel, Thales Group, Harris Corporation, Skyward IO, Lockheed Martin, Nova Systems, Unifly, PrecisionHawk, Taiwan Fluoro Technology Co., Ltd.
1. By Component (Hardware, Software, Service, (Security Services, Flight Services, Information Services))
2. By Solution (Communication Infrastructure, Navigation Infrastructure, Surveillance Infrastructure)
3. By Type (Persistent UTM, Non-Persistent UTM)
4. By End-Users (Agriculture & Forestry, Logistics & Transportation, Surveillance & Monitoring)
5. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
6. By Countries (US, Canada, Mexico, Brazil, Argentina, UK, Germany, France, Spain, Italy, Netherlands, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Others)
7. By Competitors (Requentis, Leonardo Finmeccanica, AirMap, Altitude Angel, Thales Group, Harris Corporation, Skyward IO, Lockheed Martin, Nova Systems, Unifly, PrecisionHawk, Taiwan Fluoro Technology Co., Ltd.)