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Rapid deployment of drones for commercial and civil applications is a key factor driving market revenue growth

VANCOUVER, BC, CANADA, November 9, 2022 /EINPresswire.com/ -- The global UAS Traffic Management (UTM) system market size is expected to reach USD 5,053.1 Million in 2030 and register a revenue CAGR of 20.3% over the forecast period, according to the latest report by Emergen. Rapid deployment of drones for commercial and civil applications, coupled with major investment by government as well as private companies to develop and deploy advanced and safe UAS traffic management systems is a key factor driving market revenue growth.

UTM is a traffic management ecosystem, which is specially used for managing small drone traffic in lower-level airspace. It consists of several subsystems, designed to provide end-to-end service. UTM system is an accumulation of various information using different data service providers. Information comprises weather conditions, airspace traffic, drone registration, and operator’s credentials, which help UAS manage traffic. It utilizes various technologies, which are inspired by aviation traffic management systems.  For instance, in October 2021, India made ‘national UAS traffic management policy framework’ to mandate safety management of aircraft at low-level airspace, owing to increasing number of drone applications. This policy framework is expected to allow heavy deployment of automated, algorithm-driven software services to manage drone traffic in the country.

Rapid application of UAS for civil as well as commercial use is expected to boost revenue growth of the UAS traffic management system market during the forecast period. Moreover, rapid development in UTM systems, changes in administrative structure, and rising support from governments and privately owned businesses is expected to create major revenue opportunities for players in the market.

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However, issues related to vulnerability of UTM software modules, costly and time-consuming certification process, vulnerability of cyber-attacks, and reducing demand for UAS are impacting revenue growth of the UTM system market currently. UTM system requires substantial amount  of technological support and continuous research and development for product innovation and advancement. Hence, sustaining in this market requires large amount of capital investment. Furthermore, concerns related to data security and stringent government regulations are impacting revenue growth of the UTM system market to some extent.

Some Key Highlights From the Report
Services segment accounted for a significantly large revenue share in 2021. UTM systems transmit important data to drone operators regarding flight and security. This helps in enhance service quality of drones and UAS. UTM solutions provide three types of services, which are security services, information services, and combat services.

Persistent segment accounted for largest revenue share in 2021 owing to rapid improvement of transportation activities across the globe, which is driving inclining demand for drones and UTM systems. Persistent UTM is mainly important for low-altitude operations in an authorized flying area, and provides aerial vehicles with continuous automated coverage.

Transportation and logistics segment revenue is expected to increase at a steady rate over the forecast period due to increasing adoption of small UAS systems by logistic industries. Adoption of drones for delivering medicine and emergency supplies, which was crucial due to lockdowns and curfews during COVID-19 pandemic, has served to raise awareness regarding the reliability of drones, and demand for UTM systems has been increasing as a result. In addition, rapid expansion of e-Commerce across the globe is driving significantly high demand for drones as well as UTM systems, and is expected to continue to support revenue growth of this segment.

The market in North America accounted for largest revenue share in 2021 owing to rapid adoption of UTM system in developed countries such as the U.S. and Canada. Various factors including government support, increase in investment by public and private companies, increasing drone activity and initiatives by key players are driving revenue growth of the market in the region.

On 25 May 2022, U.K. based lifting and handling equipment manufacturing company Host UK collaborated with aerospace and defense company Lockheed Martin to develop a bespoke lifting and handling system for the vertical launch space programs for U.K. processing within a Satellite Integration Laboratory (SIL) in Harwell, Oxfordshire.

The leading market contenders listed in the report are:

Airbus SE, Lockheed Martin, Leonardo S.p.A., SZ DJI Technology Co., Ltd., Altitude Angel, Harris Corporation, Kitty Hawk Corporation, Precision Hawk, Frequentis Group, and Collins Aerospace

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Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global UAS Traffic Management System market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the UAS Traffic Management System market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global UAS Traffic Management System market.

Competitive Terrain:

The global UAS Traffic Management System industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

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Emergen Research has segmented the global UTM system market on the basis of solutions, component, type, end use, and region:

Solutions Outlook (Revenue, USD Million, 2019-2030)
Communication

Navigation

Surveillance

Others

Component Outlook (Revenue, USD Million, 2019-2030)
Hardware

Software

Services

Security Services

Fight Services

Information Services

Type Outlook (Revenue, USD Million, 2019-2030)
Persistent

Non-Persistent

End Use Outlook (Revenue, USD Million, 2019-2030)
Agriculture and Forestry

Surveillance and Monitoring

Transportation and Logistics

Others

Regional Outlook (Revenue, USD Million, 2019-2030)
North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Spain

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

Israel

Rest Of MEA

Key reasons to buy the Global UAS Traffic Management System Market report:

The latest report comprehensively studies the global UAS Traffic Management System market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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