Europe Unmanned Traffic Management Market Size, Share & Industry Trends Analysis Report By Component, By Application (Surveillance & Monitoring, Logistics & Transportation, and Agriculture & Forestry), By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Unmanned Traffic Management Market would witness market growth of 20.8% CAGR during the forecast period (2022-2028).
Unmanned traffic management (UTM), also known as unmanned aircraft system traffic management (UASTM), is an air traffic management ecosystem being developed by NASA, the Federal Aviation Administration (FAA), other federal partner agencies, and industry players to autonomously manage the operations of unmanned aerial systems (UAS). For managing low-altitude uncontrolled unmanned aerial vehicle operations, unmanned traffic management offers services, information architecture, software features, data exchange protocols, performance requirements, and infrastructure. Unmanned traffic management (UTM) is a digital air traffic management solution that allows new aerial vehicles like delivery drones and air taxis to safely enter and share future airspace. This scalable and sophisticated air traffic management technology is expected to speed up the safe deployment of unmanned aerial vehicles for leisure and commercial purposes.
The rising drone business has a lot of potential, with European demand suggesting a value of more than EUR 10 billion per year in nominal terms by 2035, and more than EUR 15 billion per year by 2050. Civil missions' impact (whether for governments or commercial organizations) is estimated to produce the majority of this value, with related services expected to generate more than EUR 5 billion in yearly value by 2035, underscoring their relevance in the marketplace. Defense and leisure, the other major sectors, will continue to contribute to this market and will continue to be the leading sources of value in the near future. Over the long term, both represent almost EUR 2 billion in yearly product-related turnover in Europe.
The ability of drones to fly in various sections of the airspace, particularly at very low levels, which are currently defined as being below 150 meters, is critical to the development of the civil drone sector. In 2050, an estimated 7 million consumer recreational drones will be operating across Europe, with a fleet of 400 000 being deployed for business and government missions.
The Germany market dominated the Europe Unmanned Traffic Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $128.4 million by 2028, growing at a CAGR of 19.4 % during the forecast period. The UK market is expected to witness a CAGR of 19.8% during (2022 - 2028). Additionally, The France market is expected to witness a CAGR of 21.8% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Unmanned Traffic Management Market will Hit $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.
Scope of the Study
Market Segments Covered in the Report:
- Surveillance & Monitoring
- Logistics & Transportation
- Agriculture & Forestry
By End User
- Drone Operators or Pilots
- Emergency Service & Local Authorities
- Recreational Users
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- 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)
- Unifly NV
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