The Drone Traffic Management Market Size is valued at 110.12 Mn in 2022 and is predicted to reach 1317.72 Mn by the year 2031 at a 32.1 % CAGR during the forecast period for 2023-2031.
Drone traffic management is the term used to describe the infrastructure and mechanisms set up to safely and effectively manage the rising number of drones operating in the airspace. The demand for drone traffic management solutions was fueled by the rapid adoption of drones for a variety of uses, including aerial photography, surveillance, logistics, agriculture, and surveying.
Effective traffic management systems became increasingly necessary as more drones were in the air. Drone traffic management solutions have evolved due to the advancement of cutting-edge technology, including artificial intelligence (AI), machine learning, and sensor systems. These technologies made better real-time data processing, traffic monitoring, and decision-making skills possible. The service providers have formed in response to the rising need for drone traffic management solutions, and they now provide specialized services, including airspace management, flight planning, and data analytics to assist drone operators and authorities.
However, the availability of hardware and software components for drone traffic management may have been impacted by the pandemic's interruptions to the global supply chains, which could have slowed down system installations or upgrades.
Competitive Landscape:
Some Major Key Players In The Drone Traffic Management Market:
- Inc
- Delair-Tech
- Altitude Angel Limited
- Analytical Graphics Inc
- SZ DJI Technology Co. Ltd
- Frequentis AG
- Harris Corporation
- Lockheed Martin Corporation
- Leonardo S.P.A
- Nova Systems
- Thales Group
- Nokia Corporation
- PrecisionHawk Inc
- Sensefly Innovations Private Limited
- DroneUp LLC
Market Segmentation:
The Drone Traffic Management market is segmented on the basis of type, component, solution and end-user. Based on type, the market is segmented as Persistence and Non-Persistence. The component segment includes Hardware, Software, and Services. By solution, the market is segmented into communication infrastructure, surveillance infrastructure, navigation infrastructure, and others. The end-user segment includes transportation & logistics, surveillance & monitoring, agriculture & forestry, defence & space, and others.
Based On The Solution, The Communication Infrastructure Segment Is Accounted As A Major Contributor To The Drone Traffic Management Market
The Communication Infrastructure category is expected to hold a major share of the global Drone Traffic Management Market in 2021. To ensure that the drone operators have direct control of the drone during all operations. Improved drone communication is crucial, especially if the drone is conducting BVLOS flight activities. Real-time tracking of registered drones is crucial for UTM software. Due to military and defence organizations' demand for UAVs for surveillance applications, the surveillance segment will be expected to grow over the projection period.
The Transportation & Logistics Segment Witnessed Growth At A Rapid Rate
The transportation & logistics segment is estimated to grow at a rapid rate in the global Drone Traffic Management Market due to an increase in the use of drones for transportation in wealthy nations. Additionally, the use of small drones to deliver food, emergency medical supplies, and other necessities is growing. For instance, the Federal Aviation Administration (FAA) granted Amazon permission to use its drone fleet for prime air delivery in August 2020. Amazon will be able to deliver packages effectively and securely thanks to the approval. Within 30 minutes or the same day, the organization aims to deliver urgent packages. Because of the increasing need for UAVs to conduct homeland surveillance, border patrolling & security, and border management, the surveillance & monitoring segment is anticipated to experience substantial expansion.
In The Region, Europe's Drone Traffic Management Market Holds A Significant Revenue Share
The growing demand for drones for various applications in the region is projected to lead to Europe's Drone Traffic Management Market having the greatest revenue share in the near future. Many European nations are concentrating on enhancing their defensive capabilities due to the unpredictable geopolitical environment in this region. In the next years, the drone traffic management market in Europe is anticipated to increase as a result of the current trend of drone purchases by emerging economies including the UK, Germany, and France.
North America is expected to grow at a significant rate. The country is projected to dominate the market as a result of the aggressive tactics used by significant American and Canadian stakeholders like Lockheed Martin and L3 Harris Group. Furthermore, the growth of the North American market is linked to the growing usage of UAVs for military, surveillance, and logistics purposes.
Drone Traffic Management Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 110.12 Mn |
|
Revenue Forecast In 2031 |
USD 1317.72 Mn |
|
Growth Rate CAGR |
CAGR of 32.1% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Component, By Solution, By End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Airmap. Inc, Delair-Tech, Altitude Angel Limited, Analytical Graphics Inc, SZ DJI Technology Co. Ltd, Frequentis AG, Harris Corporation, Lockheed Martin Corporation, Leonardo S.P.A, Nova Systems, Thales Group, Nokia Corporation, PrecisionHawk Inc, Sensefly Innovations Private Limited, AiRXOS, DroneUp LLC |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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