The Asia Pacific Unmanned Traffic Management Market would witness market growth of 22.2% CAGR during the forecast period (2022-2028).
The UAS Traffic Management (UTM) system is a new phenomenon that aims to manage drone traffic (mostly tiny drones) in lower-level airspace. The UAS traffic management system, often known as the UTM system, is envisioned as a collection of subsystems that will operate together to deliver an end-to-end service. The unmanned traffic management system will be connected to several data providers in order to collect real-time weather, airspace traffic, drone registration, and drone operator credentials, among other things. Although the unmanned traffic management system uses different technology than the air traffic management (ATM) system, the UAS traffic management system's main key features and operations are based on the current manned aviation traffic management system.
Drones, or unmanned aircraft systems, serve nearly every area of the economy, including but not limited to agriculture, healthcare, surveillance, geospatial mapping, disaster relief, transportation, media and entertainment, law enforcement, and national defense, among others. Drones automate dangerous and repetitive operations, allowing them to be completed in a transparent, efficient, and cost-effective way.
The Central Government has implemented a number of reform measures with the goal of making India a global hub for drones by 2030, as part of the Atmanirbhar Bharat Abhiyan. On August 25, 2021, it announced the liberalized Drone Rues, 2021, and on September 24, 2021, it published the drone airspace map. On September 30, 2021, it announced the Production Linked Incentive (PLI) scheme to encourage the manufacture of drones and drone components in India. The single-window digital sky platform is being created in accordance with the new Drone Rules, 2021, and will be completely operational by January 26, 2022.
The China market dominated the Asia Pacific Unmanned Traffic Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $133.7 million by 2028, growing at a CAGR of 20.2 % during the forecast period. The Japan market is expected to witness a CAGR of 21.5% during (2022 - 2028). Additionally, The India market is expected to witness a CAGR of 23% during (2022 - 2028).
Based on Component, the market is segmented into Software and Hardware. Based on Application, the market is segmented into Surveillance & Monitoring, Logistics & Transportation, and Agriculture & Forestry. Based on End User, the market is segmented into Drone Operators or Pilots, Emergency Service & Local Authorities, Airports, and Recreational Users. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Singapore, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Unmanned Traffic Management Market is Projected to reach USD 2.4 Billion by 2028, at a CAGR of 21.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L3Harris Technologies, Inc., Airbus SE, Thales Group S.A., Leonardo SpA, Altitude Angel Limited, Droniq GmbH, OneSky Systems, Inc., PrecisionHawk, Inc., Terra Drone Corporation (Terra Motors Corporation), and Unifly NV.
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