The Unmanned Traffic Management Market is expected to grow at CAGR of 21.2% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Unmanned Traffic Management Market
Unmanned traffic management market is likely to witness an impressive CAGR of 21.2% during the forecast period. The unprecedented growth is owing to the growing employment of drones in logistics & transportation and other commercial applications. The escalating need for UTM solutions to assimilate self-governing aerial vehicles in commercial airspace is another factor significantly contributing to the growth of the global unmanned traffic management market.
In terms of regions, North America dominated the unmanned traffic management market in 2018, and is estimated to maintain its dominance in the coming five years, driven by the growth in drone activities, rise in investments by various government agencies on drone BVLOS operations, and the regional presence of major global giants, such as AirMap, Lockheed Martin Corporation, and Harris Corporation. The North American region is expected to witness the highest growth during the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Segmentation
Unmanned Traffic Management Market Share: By End-Use Type
Based on the end-use type, the market is segmented as agriculture & forestry, logistics & transportation, surveillance & monitoring, and others. The logistics & transportation segment dominated the market in 2018, and is likely to continue its leading position during the forecast period. The growth of this segment is owing to the growth in application of small Unmanned Aerial Systems (below 25 kg in weight) by e-commerce and retail companies.
Unmanned Traffic Management Market Share: By Solution Type
Based on the solution type, the market is segmented as communication infrastructure, navigation infrastructure, surveillance infrastructure, and others. The communication infrastructure segment is expected to remain dominant during the forecast period. The growth of this segment is driven by the growing acceptance of Beyond Line of Sight Operations (BVLOS), which demand precise communication between UTM and drone operators.
Unmanned Traffic Management Market Share: By Type
Based on the type, the market is segmented as non-persistent UTM and persistent UTM. The persistent UTM segment is estimated to register a higher growth in the coming five years. This growth can be attributed to the increase in logistics and transportation activities in the developed economies, such as the US, the UK, and Switzerland.
Unmanned Traffic Management Market Share: By Component Type
Based on the component type, the market is segmented as hardware equipment, software, and services. The services segment commanded the market in 2018, and is likely to remain dominant during the forecast period as well. The prime focus of unmanned traffic management will be on service providers delivering flight and security and information to UTM as well as drone operators.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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