Global Unmanned Traffic Management Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Unmanned traffic management (UTM) refers to a system designed to manage the integration of unmanned aircraft systems (UAS), commonly known as drones, into the airspace. These systems provide a framework that allows for drones’ safe and scalable integration into existing airspace while accommodating diverse operations and applications.

Sizing and Forecast
The unmanned traffic management market size has grown exponentially in recent years. It will grow from $1.32 billion in 2023 to $1.6 billion in 2024 at a compound annual growth rate (CAGR) of 21.5%.  The  growth in the historic period can be attributed to rise in uav (unmanned aerial vehicle) adoption, growth in commercial drone applications, expansion of e-commerce, expansion of drone delivery services, rise in drone swarming application.

The unmanned traffic management market size is expected to see exponential growth in the next few years. It will grow to $3.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%.  The growth in the forecast period can be attributed to increase in bvlos (beyond visual line of sight) operations, rise in emergency response applications,  surge in urban air mobility initiatives, implementation of remote id technologies, expansion of utm for agricultural applications. Major trends in the forecast period include technological innovations in communication systems, integration of ai and machine learning in utm, advances in drone technology, collaboration with telecom and tech companies, robotics advancements in unmanned aerial vehicle.

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Segmentation & Regional Insights
The unmanned traffic management market covered in this report is segmented –
1) By Type: Persistent, Non-Persistent
2) By Component: Hardware, Software, Services
3) By Application: Aviation, Homeland Security, Agriculture, Logistics And Transportation, Other Applications

North America was the largest region in the unmanned traffic management market in 2023. The regions covered in the unmanned traffic management  market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Increasing drone activities are expected to propel the growth of the unmanned traffic management market going forward. Drones are remotely piloted aircraft or autonomous systems that can fly without a human onboard. The increasing number of drone activities increases air traffic, which can be managed using unmanned traffic management systems. For instance, in March 2023, according to Flytrex, an Israel-based drone delivery start-up, Flytrex completed over 21,350 drone deliveries, which was a seven-fold increase as compared to 2021, resulting drone service user base increased by 765% during 2021–2022. Therefore, increased drone activity is driving the unmanned traffic management market.

Key Industry Players
Major companies operating in the unmanned traffic management  market report are Droniq GmbH, Raytheon Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., DJI Technology Co. Ltd., Thales Group, L3 Harris Technologies, Harris Corporation, Leonardo S.P.A., Collins Aerospace, Saab AB, Indra Sistemas S.A., Cubic Corporation, Frequentis AG, Skye Air Limited, DroneUP LLC, Nova Systems LLC, General Electric Company, Airbus SE, Intelligent Automation (IAI), Dedrone, Terra Drone Corporation, PrecisionHawk Inc., Altitude Angle Limited, Unifly NV, Aeronyde Corporation, AirMap Inc., Airware

The unmanned traffic management market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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