Global Unmanned Traffic Management (UTM) Market is projected to be valued at USD 4,921.44 Million by 2030, registering a CAGR of 20.21 % from 2020 to 2030.
The increasing adoption of drones in logistics & transportation and other commercial applications has significantly contributed to the expansion of the UTM market. Increasing initiatives undertaken by the aviation authorities of countries such as the US for developing advanced traffic management systems is also expected to drive the growth of the market. For example, in Feb 2019, the Federal Aviation Administration (FAA) and the National Aeronautics and Space Administration (NASA) partnered with private companies to develop a cloud-based traffic management system for handling unmanned aerial vehicles (UAV) operating within the national airspace.
free Sample Report @ https://www.marketresearchfuture.com/sample_request/10159
However, issues related to the vulnerabilities of UTM software modules and the slow certification process might hamper the growth of the market.
The growing usage of drones for various applications such as packaged delivery services, search & rescue operations, and infrastructure monitoring is expected to contribute to the growth of the UTM market.
Growth Opportunities in the Market
The Communication Infrastructure Segment to Lead the Market: The communication infrastructure segment is estimated to lead the UTM market during the forecast period. The growth of this segment is driven by the increasing adoption of Beyond Line of Sight Operations (BVLOS), which require accurate communication between UTM and drone operators.
The Logistics & Transportation Segment to Grow at the Highest CAGR During the Forecast Period from 2020 to 2030: The logistics & transportation segment is estimated to record the highest CAGR during the forecast period. The growth of this segment can be attributed to the increase in the adoption of small drones (below 25 kg in weight) by retail companies and e-commerce companies for delivering goods.
The Services Segment to Grow at the Highest CAGR: The services segment is expected to register the highest CAGR during the forecast period from 2020 to 2030. The major focus of unmanned traffic management will be on service providers for providing flight services, information, and security to drone operators.
The Persistent Segment to Register the Higher CAGR: The persistent segment of the UTM market is projected to exhibit a higher CAGR during the forecast period from 2020 to 2030. The growth can be attributed to the rising adoption of drones by the medical and e-commerce industries, and the increasing use of drones in logistics & transportation applications to monitor wide geographic areas.
Access Report Details @ https://www.marketresearchfuture.com/reports/unmanned-traffic-management-market-10159