PUNE, India, April 6, 2018 /PRNewswire/ --
According to the new market research report on the "Unmanned Traffic Management (UTM) Market by End Use (Agriculture, Logistic, Surveillance), Solution (Communication, Navigation, Surveillance), Component (Hardware, Software, Service), Type (Persistent, Non-Persistent), Region - Global Forecast to 2025", published by MarketsandMarkets', the market is estimated to be USD 538.2 Million in 2018 and is projected to reach USD 1,960.6 Million by 2025, at a CAGR of 20.28% from 2018 to 2025. The increasing demand for Internet of Things (IoT), augmented reality, and ADS-B control & tracking of UAS are some of the key technologies driving the unmanned traffic management market.
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Browse 72 market data Tables and 43 Figures spread through 157 Pages and in-depth TOC on"Unmanned Traffic Management (UTM) Market - Global Forecast to 2025"
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Based on end use, the surveillance & monitoring segment of the market is projected to grow at the highest CAGR during the forecast period.
The surveillance & monitoring segment of the UTM market is projected to be the fastest-growing end-use segment during the forecast period. The growth of this segment can be attributed to the rise in the need for continuous surveillance and monitoring by small unmanned aerial vehicles in developed countries.
Based on component, the software segment of the unmanned traffic management market is projected to grow at the highest CAGR during the forecast period.
Based on component, the software segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing use of drones in a variety of tasks, such as search & rescue operations, infrastructure monitoring, and package delivery services.
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Based on solution, the surveillance infrastructure segment of the market is projected to grow at the highest CAGR from 2018 to 2025.
Based on solution, the surveillance infrastructure segment of the market is projected to grow at the highest CAGR during the forecast period. Radar, Wide Area Multilateration (WAM), Multilateration (MLAT), ADS-B, mobile telecom networks, Internet of Things (IoT), Near Field Communication (NFC), and Long Range (LoRa) are some of the technologies that can be utilized in the construction of surveillance infrastructure.
Based on type, the persistent segment of the unmanned traffic management market is projected to grow at the highest CAGR during the forecast period.
Based on type, the persistent segment of the unmanned traffic management market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing adoption of drones by the e-commerce and medical industries along with the increasing use of drones in logistics and transportation applications to monitor wide geographic areas.
North America is expected to be the fastest-growing unmanned traffic management market during the forecast period.
North America is expected to be the fastest-growing market during the forecast period. The growth of the unmanned traffic management market in North America can be attributed to the increasing investments by governments to carry out UTM trails on various sites including airports and other urban sites.
Major companies in the unmanned traffic management market include Frequentis (Austria), Leonardo Finmeccania (Italy), AirMap (US), Altitude Angel (UK), Thales Group (France), Harris Corporation (US), Skyward IO (US), Lockheed Martin (US), Nova Systems (Australia), Unifly (Belgium), and PrecisionHawk (US). These players offer hardware and software solutions as well as services, such as flight information and security. New product development, partnerships, and contracts were the main strategies adopted by these players to retain their position in the market.
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