Publication Month: Nov 2022 | Report Code: TIPAD00002268 | No. of Pages: 148 | Category: Aerospace and Defense | Status: Published
There is a rising popularity for unmanned aerial vehicles (UAVs) and unmanned aircraft systems (UASs), commonly referred to as drones, across the world. The number of modern UASs and UAVs is increasing in the airspace, supported by advancements in the underlying technology and ancillary functions. The Federal Aviation Administration (FAA) of the US government anticipates the registration of 1.6 million consumer drones and 835,000 small unmanned aircraft systems by 2023. With such exponential growth in the number of drones, especially for recreational and commercial purposes, companies in the UAV industry are striving to introduce technologically advanced products, contributing to the expansion of applications of autonomous aircraft. Chipmakers, such as Texas Instruments and Xilinx, and computing service providers, such as Amazon Web Services and Microsoft, have been contributing to the reinforcement of UAS technologies. In June 2021, Azur Drone, a leading drone-in-a-box solution provider for surveillance and inspection, integrated its Skeyetech system with Microsoft Azure through Azure IoT Hub. Skeyetech solution is operated on several highly sensitive sites worldwide, and its integration with Azure was intended to improve autonomous drone operations, followed by the better utilization of collected data.
The COVID-19 pandemic has shaken several industries in the world due to strict restrictions on the movement of vehicles and humans during the first half of 2020. Air travel bans compelled players in the aviation industry to seize operations, which hampered their revenues. The airport sector also witnessed a stiff decline in passenger count, aircraft movement, and revenue generation. The significant loss in revenues resulted in limited investments by airline operators in traffic management solutions, which hampered the growth of the unmanned traffic management market
|Market Size Value in||US$ 867.99 Million in 2022|
|Market Size Value by||US$ 3,217.40 Million by 2030|
|Growth rate||CAGR of 17.8% from 2022 to 2030|
|No. of Pages||148|
|No. of Tables||115|
|No. of Charts & Figures||92|
|Historical data available||Yes|
|Segments covered||Type, Component, Application, and End Use|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Drones are being used for various commercial applications, such as communications, navigation, surveillance, and monitoring, in North America. Their demand is also rising for last-mile delivery solutions in the e-commerce industry, food delivery services, and medical emergency services, which indicates high growth prospects for unmanned traffic management solution providers in drone-based logistics. Companies engaged in the last-mile and small package deliveries are deploying drones to cut costs and improve operational efficiencies. For instance, Prime Air delivery drones are capable of shipping parcels directly from warehouses to customers within shorter time comparing to other delivery modes. Hence, the growing deployment of drones in the logistics applications is necessitating the demand for unmanned traffic management systems, thereby bolstering the unmanned traffic management market growth.
Based on component, the unmanned traffic management market has been segmented into hardware and software. The hardware segment accounted for the largest share in 2021. The rising integration of advanced sensors and telematics in unmanned aerial systems (UAS) contributes to the growth of the market for this segment.
Based on end use, the unmanned traffic management market has been segmented into agriculture & forestry, logistics & transportation, surveillance, and others. The logistics and transportation segment dominates the market in 2021.
Based on application, the unmanned traffic management market is segmented into communications, navigation, surveillance and monitoring, and others. The communications segment holds the largest share of the market in 2021.
The market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors.
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 market insights provided in the report are likely to help the key players strategize their growth in the coming years.