North America 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 North America Unmanned Traffic Management Market would witness market growth of 20.7% CAGR during the forecast period (2022-2028).
In the past few years, the unmanned traffic management market is experiencing significant traction, which is driven by the promising growth rate of the drone market, an increase in demand for improved surveillance, and rise in product launches, recent partnerships and collaborations, and other developments in unmanned traffic management (UTM) space. Increasing demand for drones in commercial applications and greater government backing, on the other hand, are likely to augment the unmanned traffic management industry, resulting in a better opportunity for market growth throughout the forecast period.
A UTM system like this will inherit core ideas from large-scale air traffic control, but with a few critical modifications to allow for sUAS with different control methods, maneuverability, range, function, and operating limits. Finally, an expansion of UTM infrastructure, decentralization of regulating power over sUAS operations, and the creation of a web interface for pilots to submit flight plans and access critical data would allow sUAS operations to transition from science fantasy gimmick to everyday reality. Even if solely in Class-G airspace, a successful unmanned aircraft system traffic management (UTM) system must allow both humanly controlled and autonomous sUAS to fly BVLOS.
As US counterterrorism policy has pushed toward measures that are more clandestine, more destructive, and more remote from the battlefield, drones have quickly become one of the military's principal weapons. Both the US military and the CIA utilize drones in war zones to perform conventional combat as well as targeted murders of persons accused of terrorism, and they have done so both within and outside of battlegrounds.
The Department of Defense requested $9.39 billion for drones and related technology in the fiscal year 2019 budget, according to the Bard College Center for the Study of the Drone. The administration's request for drone acquisition, research, development, testing, and evaluation was valued at $3.4 billion by the Stimson Center. Thus, the US is expected to have a high demand for unmanned traffic management systems due to widespread drone use.
The US market dominated the North America Unmanned Traffic Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $982.5 million by 2028, growing at a CAGR of 19.9 % during the forecast period. The Canada market is expected to witness a CAGR of 23.5% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 22.4% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Unmanned Traffic Management Market is Estimated to reach $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 North America
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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