Unmanned Traffic Management (UTM) Market Set to Skyrocket, Reaching $1.1 Billion by 2030

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Unmanned Traffic Management (UTM)
Market Set to Skyrocket, Reaching 1.1 Billion
by 2030 The Unmanned Traffic Management (UTM)
Market is poised for exponential growth, with
projections indicating it will reach a staggering
USD 1.1 billion by 2030. This market, which was
valued at USD 106 million in 2022, is expected
to expand at an impressive compound annual
growth rate (CAGR) of 33.9. These findings are
part of a comprehensive report titled "Unmanned
Traffic Management (UTM) Market by Component
(Solutions, Software, Services), Type
(Persistent, Non-Persistent), End-User,
Application (Aviation, Homeland Security,
Agriculture, Logistics Transportation), and
Region - Global Forecast to 2030." Key Market
Players Key market players, including Altitude
Angel, Thales Group, AirMap, Inc., Airbus, and
ANRA Technologies, have primarily relied on
government funding and substantial research and
development expenditures to fuel their growth.
These industry leaders have also expanded their
market presence by introducing technologically
advanced, cost-effective software solutions and
services, further propelling the Unmanned
Traffic Management market's growth. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfd
ownloadNew.asp?id169968151 The goal of UTM is
to revolutionize the way unmanned aerial vehicles
(UAVs) operate in low-altitude airspace, making
their operations safe and efficient. Key services
provided by UTM include airspace design and
dynamic configuration, dynamic geo- fencing,
severe weather and wind avoidance, congestion
management, terrain avoidance, route planning
and re-routing, separation management,
sequencing, and spacing, and contingency
management. In managing small unmanned aircraft
systems (UAS), Unmanned Traffic Management
offers essential functionalities like
authentication, airspace design, airspace
corridors, dynamic geo-fencing, weather
integration, congestion prediction, sequencing
and spacing, trajectory adjustments for safety,
contingency management, separation management,
transition locations within the National
Airspace (NAS), and dynamic geo-fencing design.
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The aviation segment is projected to dominate the
Unmanned Traffic Management market between 2022
and 2030. UTM systems play a pivotal role in
ensuring the safe and efficient operation of
drones in proximity to airports, preventing
collisions with other aircraft, and ensuring
compliance with regulatory standards. Breaking
down the market by component, the software
segment is expected to lead the Unmanned Traffic
Management market between 2022 and 2030.
Effective UTM systems heavily rely on the
integration of sensors, equipment, and software
modules. Various companies operating in the UTM
market are actively developing cost-effective
and efficient software solutions crucial for
managing drone fleets, conducting automated
beyond visual line of sight (BVLOS) flights, and
maintaining essential flight data logs for
regulatory compliance. Geographically, North
America is poised to maintain its dominance in
the UTM market, having held the largest market
share in 2022. The concentration of the
commercial drone industry in North America,
coupled with significant investments in UTM
solutions by private companies and government
organizations in the United States and Canada,
is expected to drive substantial growth in the
region. The increasing deployment of drones
across various sectors, including atmospheric
research, emergency monitoring, cartography,
agriculture, and advertising, is contributing to
North America's robust presence in the Unmanned
Traffic Management market. Ask for Sample
Report _at_ https//www.marketsandmarkets.com/request
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