(I-BusinessNews.Com, July 13, 2020 ) The Unmanned Traffic Management UTM Market is estimated to be $538.2 million in 2018 and is projected to reach $1,960.6 million by 2025, at a CAGR of 20.28% during the forecast period. This growth can be attributed to the increasing use of drones in the logistics & transportation and other commercial applications. The increasing requirement of UTM solutions to integrate autonomous aerial vehicles in the commercial airspace is another factor influencing the growth of this market.
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Based on end use, the logistics & transportation segment is estimated to lead the unmanned traffic management market in 2018. The growth of this segment can be attributed to the increase in the adoption of small Unmanned Aerial Systems (below 25 kg in weight) by e-commerce and retail companies.
Based on solution, the communication infrastructure segment is estimated to lead the unmanned traffic management market during the forecast period. The growth of this segment is driven by the increasing adoption of Beyond Line of Sight Operations (BVLOS), which require accurate communication between UTM and drone operators.
Based on component, the service segment is estimated to lead the UTM market in 2018. The major focus of unmanned traffic management will be on service providers supplying flight and security and information to UTM as well as drone operators.
Based on type, the persistent unmanned traffic management segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rise in the logistics and transportation activities in developed countries such as the US, the UK, and Switzerland.
North America is estimated to lead the Unmanned Traffic Management Market in 2018 and is projected to continue its dominance during the forecast period owing to the rise in drone activity, increase in investments by government agencies on drone BVLOS operations, and the presence of key players such as AirMap, Lockheed Martin, and Harris Corporation in the region. It is projected to grow at the highest CAGR during the forecast period.
Key Market Players
Major players operating in the Unmanned Traffic Management market include Frequentis (Austria), Leonardo Finmeccania (Italy), AirMap (US), Altitude Angel (UK), Thales Group (France), Harris Corporation (US), Skyward IO (US), Lockheed Martin (US), Nova Systems (Australia), Unifly (Belgium), and PrecisionHawk (US). New product developments, partnerships, and contracts were the main strategies adopted by these players to retain their position in the market.
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