SAN FRANCISCO, Nov. 3, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Unmanned Traffic Management (UTM) – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: October 2021
Executive Pool: 6214
Companies: 43 – Players covered include AirMap; Delair; AiRXOS, a part of GE Aviation; Altitude Angel; Analytical Graphics, Inc.; DJI; Frequentis ; Harris Corporation; Leonardo S.p.A; Lockheed Martin; Nova Systems; PrecisionHawk; Sensefly SA; Skyward IO; Thales Group; Unifly and Others.
Coverage: All major geographies and key segments
Segments: Component (Services, Software, Hardware); Solution (Communication Infrastructure, Navigation Infrastructure, Surveillance Infrastructure); Type (Persistent, Non-Persistent); End-Use (Logistics & Transportation, Surveillance & Monitoring, Agriculture & Forestry)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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Global Unmanned Traffic Management (UTM) Market to Reach US$1.6 Billion by the Year 2026
Unmanned Traffic Management (UTM) is defined as an automated workflow infrastructure process encompassing flight, from flight planning, through in-flight monitoring, separation assurance and collision resolution. UTM is growing in popularity and importance as the only feasible technology solution to ensure safety of drones and aircraft. Growth in the global market is set to be driven by growing UAV traffic in commercial airspace. Unmanned Aerial Systems (UAS) have been growing rapidly in popularity in recent years with UAVs forecast to be the most dynamic growth sector of the global aerospace industry. Approval of commercial drones and their legal use is directly related to the development of workable and reliable UTM solutions, since uncontrolled flying puts infrastructure and lives in danger and increases the risk of damage to people and property. Continuous innovations in detect-and-avoid technology are vital to the successful development of UTM and also for the integration of drones into the national airspace. Public and private investments in UTM are growing as companies scramble to get their drones ‘airworthy’ via BVLOS. Successfully tested UTMs are eligible for waiver from the line-of-sight requirement imposed by the Federal Aviation Administration (FAA). As drones prove indispensable for timely and effective Covid-19 epidemic monitoring and response, demand for drones is fast tracking and UTM will also grow in prominence and urgency as the world anxiously awaits for safe drone operation.
Amid the COVID-19 crisis, the global market for Unmanned Traffic Management (UTM) estimated at US$603.6 Million in the year 2020, is projected to reach a revised size of US$1.6 Billion by 2026, growing at a CAGR of 18.1% over the analysis period. Services, one of the segments analyzed in the report, is projected to grow at a 17.9% CAGR to reach US$925.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 19% CAGR for the next 7-year period. This segment currently accounts for a 34.2% share of the global Unmanned Traffic Management (UTM) market. The future expansion of the UTM services market is anticipated to be favored by supportive standards and regulations that would allow for commercial, regular and automated BVLOS operations across Europe and North America. These developments are poised to create the requirement of sophisticated UTM services. The UTM software helps create a platform to perform multiple tasks to support drone operations, including real-time tracking of all drones in the air, showing restricted and non- restricted airspaces to help pilots avoid zones where flying is not allowed.
The U.S. Market is Estimated at $453.4 Million in 2021, While China is Forecast to Reach $79.1 Million by 2026
The Unmanned Traffic Management (UTM) market in the U.S. is estimated at US$453.4 Million in the year 2021. The country currently accounts for a 66.1% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$79.1 Million in the year 2026 trailing a CAGR of 23.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.5% and 16.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.4% CAGR while Rest of European market (as defined in the study) will reach US$98.3 Million by the end of the analysis period. Several UTM projects are underway the world over i.e. the EU’s SESAR initiative expected to roll out by 2020; the unmanned Aircraft Systems Service Suppliers initiative launched by NASA in the United States; Airbus UTM, the only FAA approved LAANC (Low Altitude Authorization and Navigation Capability) service provider in the United States. UTM is now poised to play a critical role in the emerging urban air mobility” ecosystem.
Hardware Segment to Reach $262.2 Million by 2026
Improvements in hardware is further simplifying the use of drones enabling greater autonomy in functions such as data collection, collision avoidance, pre-programmed flight routing, active tracking, and Bluetooth capability among others. In the global Hardware segment, USA, Canada, Japan, China and Europe will drive the 16.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$99.9 Million in the year 2020 will reach a projected size of US$290 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.2 Million by the year 2026. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Global Industry Analysts, Inc.
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