Home Press Releases Unmanned Traffic Management (UTM) Market Worth $1,098 million by 2030

Unmanned Traffic Management (UTM) Market Worth $1,098 million by 2030

by Press Room

(EMAILWIRE.COM, February 17, 2023 ) The report on the Unmanned Traffic Management Market provides a detailed trend analysis from 2019 to 2030. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.

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The unmanned traffic management market is anticipated to reach USD 1,098 million by 2030, growing at a CAGR of 33.9% from USD 106 million in 2022. UTM systems are designed to provide real-time information about the location and status of drones, as well as to monitor and regulate their movements to ensure safety and avoid conflicts with other aircraft. UTM also enables governments to manage the use of airspace by drones, including the allocation of specific areas for drone operation and the imposition of temporary flight restrictions (TFRs) in areas where there may be safety or security concerns. In addition, UTM plays a key role in the development of drone-based services, such as delivery and inspection, which require a high level of safety, security, and reliability. Governments are working with industry partners to develop UTM systems that can support these services by providing real-time monitoring, control, and autonomy capabilities, which will facilitate the integration of drones into the national airspace.

Based on end-user, the unmanned traffic management market has been classified into commercial and government & law. The acceptance of drones has steadily been increasing across the world for use in government & law enforcement and commercial applications. Drones are witnessing increased demand owing to their cost-effectiveness and advancements in them over the last couple of years.

Based on type, the unmanned traffic management market has been segmented into persistent UTM and non-persistent UTM. Unmanned traffic management (UTM) systems enable safe and efficient low-altitude airspace operations by providing services that include airspace design, dynamic geofencing, severe weather and wind avoidance, congestion management, terrain avoidance, route planning and re-routing, separation management, sequencing and spacing, and contingency management. These systems also help air traffic controllers develop airspace integration plans. Unmanned traffic management systems provide data for strategic decisions related to initiation, continuation, and termination of airspace operations, in addition to the proper authentication of unmanned aircraft systems in the airspace. The characteristics of UTM systems include self-configuration, self-optimization, and self-protection.

Based on region, North America is expected to lead the unmanned traffic management market from 2022 to 2030. North America accounted for the largest share of the total market in 2022. With the increased use of

UTM in commercial and military applications, drone procurement is expected to contribute to the growth of the UTM market in this region. The US and Canada are increasingly investing in the development of drones owing to their surging demand.

News Also Covered: https://www.prnewswire.com/news-releases/unmanned-traffic-management-utm-market-worth-1-098-million-by-2030—exclusive-report-by-marketsandmarkets-301747432.html

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