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Newark, NJ, May 23, 2022 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, The global unmanned traffic management market is anticipated to grow from USD 6.47 billion in 2019 to USD 28.35 billion by 2027, at a CAGR of 20.28% during the forecast period 2020-2027. North America is expected to dominate the market share of UTM system which can be attributed to rising investments by the government and private sector into the usage of drones. Canada and the USA are the major countries that contribute to the market share in the region. The presence of large players like Harris Corporation, AirMap Inc. and, Lockheed Martin contribute to the dominant position of the region. The market is expected to expand in the Asia-Pacific region at a rapid growth rate.
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Some of the notable players in the unmanned traffic management market include Management Frequentis, AirMap, Leonardo, Thales Group, Altitude Angel, Skyward IO, Harris Corporation, Nova Systems, Lockheed Martin, PrecisionHawk and, Unifly. The increasing investments in research and development of advanced technological innovations and launching of new products across the globe are the major strategies adopted by the players. PrecisionHawk, a drone and data company, has estimated that Beyond Visual Line of Sight (BVLOS) will reduce the data acquisition costs by more than10 times. The drones with BVLOS will be helpful for tree crops and will be able to provide deep insights for the agricultural sector.
This study delivers a comprehensive analysis of components, types, end-use, solution, and regions. The components segment can be divided into software, hardware, and service components. The segment is dominated by service components to supply flight information to the UTM and drone operators. On the basis of type, UTM can be divided into persistent and non-persistent unmanned traffic management system. Persistent management…
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