PUBLISHER: The Business Research Company | PRODUCT CODE: 1552453
PUBLISHER: The Business Research Company | PRODUCT CODE: 1552453
Unmanned Traffic Management (UTM) refers to systems and services designed to manage and monitor the air traffic of unmanned aerial vehicles (UAVs), commonly known as drones. UTM is a critical component in integrating UAVs into national airspace systems, ensuring safe and efficient operations.
The unmanned traffic management market consists of sales, by entities (such as organizations, sole traders or partnerships), of unmanned traffic management products and services that are utilized by various stakeholders, including government agencies, commercial enterprises and hobbyist drone operators. UTM systems are deployed during drone operations to facilitate flight planning, communication and real-time monitoring, helping prevent collisions and manage air traffic congestion.
The global unmanned traffic management market was valued at $277.53 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 34.0%.
Rising Investment In Infrastructure for Smart Cities
Rising investment in infrastructure for smart cities drove the growth of the unmanned traffic management market during the historic period. Smart cities refer to an administrative territory that uses information and communication technology (ICT) to improve its operational efficiency and provide better infrastructural facilities to its residents. Smart city initiatives integrate advanced technology to boost urban efficiency, sustainability and quality of life. Governments deploy drones for traffic management, surveillance and infrastructure monitoring. This boosts demand for sophisticated UTM systems, ensuring safe drone operations in urban areas and aligning with smart city goals. Thus, unmanned traffic management (UTM) solutions see increased demand, driven by evolving smart city strategies. For instance, in January 2022, the Indian Government disbursed INR 284.14 billion ($3.40 billion) for 100 smart cities, with INR 236.683 billion ($3.18 billion) already utilized. The Smart Cities Mission (SCM) was launched by the Government of India on June 25, 2015, aiming to enhance urban infrastructure and services across designated cities. Additionally, in November 2021, the federal government announced the Investment and Jobs Act in its annual bill, in which it allocated $500 million for accelerating its smart city initiative and increasing the number of smart cities in the country. Therefore, rising investment in infrastructure for smart cities contributed to the growth of the unmanned traffic management market.
Technological Advancements In Drone Traffic Management For Urban Airspace Management
Companies in the unmanned traffic management (UTM) market are focusing on the technological advancements for urban airspace management to meet the growing demands of urban air mobility (UAM) and unmanned aerial systems (UAS) operations. These technological advancements are pivotal in facilitating the safe, efficient and scalable integration of drones into urban airspace, supporting the growth of industries like delivery services, emergency response and infrastructure inspection. For instance, in November 2023, ANRA Technologies, a US-based international provider of end-to-end solutions for unmanned aircraft systems (UAS) operators, introduced its Vertiport Management System (VMS) at the Dubai Air Show, marking a milestone in urban air mobility (UAM) operations. Designed as a web-based platform, VMS addresses digital technology gaps by supporting diverse aircraft and vehicle needs. With autonomous vertical take-off and landing (VTOL) aircraft becoming more prevalent, the demand for efficient vertiport operations is rising. VMS facilitates safe and efficient operations by integrating real-time data exchanges among essential services, ensuring the smooth arrival and departure of UAM aircraft. Additionally, in February 2023, Skye Air Mobility Private Limited, an India-based autonomous logistics solution company, launched Skye UTM, a first-of-its-kind traffic management system for drones in India. The software enables drone operators to plan routes, create flight plans and assess risks prior to conducting drone operations. It integrates data from the government's Digital Sky platform, designed to facilitate flight planning for drones operating in Indian airspace.
The global unmanned traffic management market is highly concentrated, with large players in the market. The top ten competitors in the market made up to 71.75% of the total market in 2023.
Unmanned Traffic Management Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global unmanned traffic management market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for unmanned traffic management? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The unmanned traffic management market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider unmanned traffic management market; and compares it with other markets.