(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 26, 2021, 04:06 /Comserve / -- An Unmanned Traffic Management (UTM) is an ecosystem that manages the traffic of uncontrolled operations that are separate but complementary to the FAA's Air Traffic Management (ATM) system.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
An Unmanned Traffic Management (UTM) is an ecosystem that manages the traffic of uncontrolled operations that are separate but complementary to the FAA's Air Traffic Management (ATM) system. The Global Unmanned Traffic Management (UTM) Market is likely to grow at a CAGR of around 23.47% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. It principally owes to the collaboration between Federal Aviation Administration (FAA), NASA, other federal partner agencies & industries to explore the concepts of operation, data exchange requirements, and support framework, enabling multiple BVLOS drone operations at lower altitudes.
Moreover, the growing number of conventional aircraft owing to the changing preferences & increasing disposable income of people shall also increase the air traffic and the demand for UTM in the forecast period. Besides, end-users like Agriculture & Forestry, Logistics & Transportation, and Surveillance & Monitoring extensively using UAVs & drones shall multiply the air traffic and surge the demand for efficient & safe traffic management systems through UTM during 2021-26.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Global Unmanned Traffic Management (UTM) Market Future Growth, and Revenue Forecast, (2021-2026)
Covid-19 Severely Impacted the Global Unmanned Traffic Management (UTM) Market
The Covid-19 pandemic minimally affected the Global Unmanned Traffic Management (UTM) Market. Of all the regions, the US was the least affected by the pandemic, while Asia-Pacific & South America faced vulnerabilities like supply chain disruptions & operational constraints. Besides, the slightly reduced defense spending on a short-term basis was another effect of the pandemic on the global market.
On the other hand, the Global Unmanned Traffic Management Market displayed an increasing demand for drones for purposes like transportation of medical supplies & lab samples. Additionally, these drones also helped disinfect contaminated areas through aerial sprays and monitored public places during quarantine.
UTM to Display the Highest Demand in the Forecast Period
Based on the Type, the Global Unmanned Traffic Management (UTM) Market segments into Persistent UTM & Non-Persistent UTM. Of both, the Persistent UTM type shows more signs of observing the highest demand rate in the forecast period. It owes to the surging requirements of UAVs & drones, along with their increasing penetration across end-users like agriculture, surveillance & security, and e-Commerce for their high efficiency.
Moreover, the demand for drones across the commercial sector & industrial sector for vehicle traffic monitoring & searching operations & delivery services, respectively, is also propelling the segment growth significantly. Additionally, the rising logistics & transportation activities in developed countries shall further drive the segment to observe its highest demand in the forecast period.
Fill This Form and get the Sample Copy of This Report:
The Final Report will cover the impact analysis of COVID-19 on this industry: Global Unmanned Traffic Management (UTM) Market Future Growth, and Revenue Forecast, (2021-2026)
Logistic & Transportation to Witness the Fastest Growth in the Global Unmanned Traffic Management (UTM) Market
Based on the End-User, the Global Unmanned Traffic Management market segments into Agriculture & Forestry, Logistics & Transportation, and Surveillance & Monitoring. Of them all, the Logistics & Transportation end-user is projected to display the fastest market growth in the forecast period. It owes to the growing utilization of drones by several companies to deliver products or people across places.
Transportation through ambulance drones carrying first aid and other medical equipment at the sight of the accident is expanding significantly. Furthermore, the rising adoption of small UAVs weighing less than 25 kgs, especially across e-commerce & retail companies, for delivering goods shall also fuel the segment growth in the forecast period, states MarkNtel Advisors in their research report,“Global Unmanned Traffic Management (UTM) Market Analysis, 2021.”
Market Driver
The prime factors likely to drive the Global Unmanned Traffic Management (UTM) Market growth in the forecast period include the rising deployment of drones across commercial & civil applications, coupled with the surging focus of unmanned industries on BVLOS operations with an economic value greater than VLOS missions.
Additionally, the market shall present potential growth opportunities for stakeholders like Air Navigation Service providers, Law Enforcement, Communication System Providers, Data Service Providers, Commercial Drone Operators, and UAS Service Suppliers.
Furthermore, the changing regulatory framework for drone operations, coupled with rising participation by private companies, shall also fuel the Global Unmanned Traffic Management (UTM) Market growth in the years to come.
Market Restraints
The most prominent factor restraining the market growth includes the vast government regulations & certifications for UAVs & flying drones to regulate their air traffic & flying zones, thereby hampering the demand for UTMs. This factor shall further reduce the need for UAVs, drones, and air traffic and, in turn, would hinder the UTM market growth.
Regional Landscape
North America to Display the Fastest Market Growth, While Asia-Pacific to Dominate the Market During 2021-26
Geographically, the Global Unmanned Traffic Management (UTM) Market expands across North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Of all the regions, North America accounted for the highest demand for UTM, particularly in the US recently, owing to the rising penetration of Autonomous Aerial Vehicles (AAV) & Unmanned Aerial Vehicles (UAV) across the country.
TABLE OF CONTENT
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Assumptions
1.4. Market Definition
2. Executive Summary
3. Impact of COVID-19 on Global Unmanned Traffic Management (UTM) Market
4. Global Unmanned Traffic Management (UTM) Market Regulations & Policy
5. Global Unmanned Traffic Management (UTM) Market Trends & Insights
6. Global Unmanned Traffic Management (UTM) Market Dynamics
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