unmanned traffic management Market

The unmanned traffic management market is expected to grow from US$ 867.99 million in 2022 to US$ 3,217.40 million by 2030; it is estimated to grow at a CAGR of 17.8% from 2022 to 2030.

The demand for unmanned traffic management systems is expected to rise in the near future due to the increasing use of drones in commercial, logistics, and aviation sectors. With the significant adoption of autonomous aerial vehicles, electric aircraft, flying taxis, and delivery drones, there are significant growth prospects in air mobility, which further fuels the need for unmanned traffic management systems to efficiently manage the fleet. The FAA is collaborating with industry and stakeholders, including NASA, to develop a drone traffic management system and establish rules for operating drones. The FAA predicts that the number of small unmanned aircraft systems used for commercial purposes will rise by over 60% from approximately 488,000 in 2016 to around 784,000 in 2024. Additionally, more than 1.5 million small unmanned aircraft systems are expected to be used for recreational purposes by 2024, emphasizing the need for traffic management systems during the forecast period.

Rules and regulations surrounding the recreational and commercial use of UAVs and UASs are still in development, which is creating uncertainty in the industry. A report by the Government Accountability Office (GAO) published in January 2021 indicated that the FAA's unmanned traffic management (UTM) system lacked communication with stakeholders and lacked information on measuring progress. The FAA acknowledges that the UTM ecosystem involves various stakeholders, and developing rules of operation will take time. Obtaining a Special Flight Operations Certificate (SPOC) for BVLOS (beyond-visual-line-of-sight) missions is challenging for flight operators due to the uncertainties associated with operations. In addition, concerns about drone crashes have led to stricter drone-related regulations. For instance, in June 2021, an Amazon Prime delivery drone prototype (model MK27) crashed and caused a fire that spread over 23 acres of land. These factors collectively act as constraints on the growth of the unmanned traffic management market.

The unmanned traffic management market is segmented into four major regions-North America, Europe, Asia Pacific (APAC), and Rest of the world. In 2021, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively.

The key players profiled in the unmanned traffic management market study are Lockheed Martin Corp, Leonardo SpA, Thales SA, Raytheon Technologies Corp, Altitude Angel Ltd, Frequentis AG, AirMap Inc, Unify NV, OneSky Systems Inc, and Thales SA. The unmanned traffic management market report provides detailed market insights, which helps the key players strategize their growth in the coming years. Slingshot Aerospace, AirMap, Unifly nv, Frequentis AG, OneSky, L3Harris Technologies, Inc., and PrecisionHawk, Inc. are among the major vendors contributing to the growth of the market in North America. To meet the changing market requirements, vendors in the region are concentrating on launching novel unmanned traffic management systems and forging strategic alliances. In August 2022, IN-FLIGHT Data, a seasoned operator of advanced drones, in collaboration with AirMatrix, a top remote traffic management software provider, successfully performed one of the initial "SAIL 4" urban drone operations, including BVLOS operations, over urban neighborhoods.

The unmanned traffic management market is segmented on the basis of type, component, application, and end use. Based on type, the market is bifurcated into persistent UTM and non-persistent UTM. Based on component, the market is bifurcated into persistent hardware and software. In terms of application, the unmanned traffic management market is segmented into communications, navigation, surveillance and monitoring, and others. The market, by end use, is segmented into agriculture and forestry, logistics and transportation, surveillance, and others.

The unmanned traffic management market's overall size has been determined through a combination of primary and secondary research. The research process began with extensive secondary research utilizing internal and external sources to gather qualitative and quantitative data related to the market. This approach provided an overview and forecast of the unmanned traffic management market in terms of all its segments. Additionally, several primary interviews were conducted with industry experts and commentators to validate the data and gain further analytical insights into the topic. The interviewees included VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, who specialize in the unmanned traffic management market.