Published Date: 30-Jun-2022
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According to a new report, published by KBV research, The Global Unmanned Traffic Management Market size is expected to reach $2.4 billion by 2028, rising at a market growth of 21.1% CAGR during the forecast period.
The Hardware segment is showcasing a CAGR of 24.1% during (2022 - 2028). It is due to the increasing investments by the authorities on the establishment of unmanned traffic infrastructure. Remote radars and sensors, buildings, communication systems, and a backhaul network are all part of the physical infrastructure. These types of equipment make the deployment of UTM systems possible.
The Surveillance & Monitoring segment acquired maximum revenue share in the Global Unmanned Traffic Management Market by Application in 2021, thereby, achieving a market value of $1.35 billion by 2028. It is owing to the increasing criminal activities across the world like robbery, which is creating more requirements for strict surveillance. Drones are increasingly being used by police departments and border security forces in various countries to monitor any suspicious activities.
The Emergency Service & Local Authorities segment has shown growth rate of 21.4% during (2022 - 2028). This is because the use of drones by the local government authorities is increasing. Drones have a wide range of potential applications in disasters. Drones are employed for a multitude of functions in the event of a natural or man-made disaster, including mapping, disaster management, search and rescue, transportation, and training, to name a few.
The North America market dominated the Global Unmanned Traffic Management Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.36 billion by 2028. The Asia Pacific market is estimated to witness a CAGR of 22.2% during (2022 - 2028). Additionally, The Europe market would experience a CAGR of 20.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/unmanned-traffic-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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Unique Offerings from KBV Research
North America Unmanned Traffic Management Market Size & Opportunities 2022-2028
Europe Unmanned Traffic Management Market & Growth Forecast 2022-2028
Asia Pacific Unmanned Traffic Management Market Share & Industry Outlook to 2028
LAMEA Unmanned Traffic Management Market Growth, Trends & Forecasts 2022-2028