Unmanned Traffic Management Market Rapid Growth, Expected to Worth $3.1 Billion | Forecast 2031

The global unmanned traffic management market grows due to rising drone demand, enhanced surveillance needs, and more product launches and partnerships.

WILMINGTON, DE, UNITED STATES, November 7, 2024 /EINPresswire.com/ -- As per the report, the global unmanned traffic management market size was accounted for $0.78 billion in 2021, and is expected to reach $3.1 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.

Unmanned Traffic Management (UTM), developed by NASA, the FAA, and other federal agencies along with industry partners, is an air traffic management system designed to autonomously oversee unmanned aerial systems (UAS) operations. UTM offers services, software functionalities, data exchange protocols, and infrastructure to manage low-altitude, uncontrolled UAV activities. This digital air traffic solution is designed to enable safe integration of new aerial vehicles like delivery drones and air taxis into the airspace. UTM is expected to drive the widespread use of unmanned aerial vehicles for both recreational and commercial purposes securely.

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With the rapid technological advancements in unmanned vehicles, policy initiatives, and the emergence of new user applications, the number of unmanned aircraft in global airspace is expected to surge, driving the demand for unmanned traffic management systems. Many countries are also taking steps toward enabling advanced use cases, such as cargo delivery by unmanned aircraft, allowing them to operate alongside manned planes. Ensuring the safety of both manned and unmanned aircraft in global airspace is crucial, requiring a combination of procedures, regulations, technology, and real-time data transmission. Current air traffic management (ATM) systems were not designed to accommodate unmanned vehicles or drone traffic, highlighting the need for the development of unmanned traffic management solutions.

Furthermore, the unmanned traffic management market is set to experience significant growth as market players increasingly collaborate with national agencies and organizations. For example, in February 2020, Airbus partnered with the Civil Aviation Authority of Singapore (CAAS) to enable urban air mobility (UAM) in Singapore. As part of this collaboration, Airbus was selected to implement the Unmanned Traffic Management (UTM) system and services to support initial use cases in the region.

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Growth of the drone market, surge in demand for improved surveillance, and increase in product launches and partnerships drive the growth of the global unmanned traffic management market. However, strict drone regulations, technological challenges in implementation of UTM hinder the market growth. On the contrary, rise in demand for drones in commercial applications and support of government would unlock new opportunities in the future.

Covid-19 scenario:

1. The Covid-19 pandemic forced governments to implement strict lockdown and ban on import-export of raw material items. This led to sudden fall in the availability of important component for manufacturing unmanned traffic management component.

2. The prolonged lockdown forced manufacturing facilities to completely shut their operations. Moreover, this resulted in delays in initiatives and activities regarding development of advanced unmanned traffic management services.

By application, the surveillance and monitoring segment held the lion's share in 2021, contributing to nearly three-fourths of the global unmanned traffic management market, due to high demand for systems that can ensure accurate surveillance and monitoring of UAVs. However, the agriculture and forestry segment is estimated to manifest the highest CAGR of 18.9% from 2022 to 2031, due to rise in demand for the UAVs to be deployed in agriculture sector globally.

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By component, the software segment held the largest share in 2021, accounting for more than 90% of the global unmanned traffic management market, due to high demand for unmanned traffic management software that can enable the development of future-centric unmanned traffic management system across the globe. However, the hardware segment is expected to register the highest CAGR of 17.4% during the forecast period, owing to rise in demand for the installment of superior sensing, communication, and data transfer devices in UAVs globally.

By region, the global unmanned traffic management market across North America dominated in 2021, holding nearly two-fifths of the market, due to increase in R&D activities; technological developments by key players; and increase in government support. However, the market across Asia-Pacific is projected to portray the highest CAGR of 17.9% during the forecast period, owing to rise in adoption of unmanned aerial vehicles or drones across several Asian nations, for instance, China, India, Japan, South Korea, and Australia, among others.

Major market players

Airbus
Altitude Angle
Droniq GmbH.
Intelligent Automation (IAI)
Leonardo S.p.A.
One sky
PrecisionHawk Inc.
Thales Group
Terra Drone
Unifly NV

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