Report : Europe Unmanned Traffic Management Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Type (Persistent UTM and Non-Persistent UTM), Component (Hardware and Software), Application (Communications, Navigation, Surveillance & Monitoring, and Others), and End Use (Agriculture & Forestry, Logistics & Transportation, Surveillance, and Others)
At 18.3% CAGR, the Europe Unmanned Traffic Management Market is speculated to be worth US$ 988.75 million by 2030, says Business Market Insights
According to the Insight Partners’ research, the Europe unmanned traffic management market was valued at US$ 258.16 million in 2022 and is expected to reach US$ 988.75 million by 2030, registering an annual growth rate of 18.3% from 2022 to 2030. Application of blockchain in UTM and integration of AI and ML are the critical factors attributed to the Europe unmanned traffic management market expansion.
Blockchain, a distributed ledger technology, has been successfully deployed across many applications. It enables independent and secure interactions without requiring a trusted third party (TTP). Several researchers are undertaking research on integrating blockchain with UTM. While some focus on utilizing blockchain for allocating remote identification (RID), others have been focusing on securing the communications within the UTM and other aspects. Newer research is being conducted on deploying smart contracts for a fully distributed UTM system, which can allocate RIDs, plan and track missions and ensure operations with the regulatory framework. Smart contracts are computer algorithms that run on top of a blockchain and leverage its key features, such as log immutability and traceability. Further, since smart contracts are autonomous, accurate, and secure by design, deploying smart contracts on the blockchain offers additional advantages. The employment of smart contracts in the UTM can reduce the time needed to obtain authorization to fly and minimize fraudulent activities. This is because once a smart contract is deployed; it acts like a law that cannot be bypassed. Other research proposes utilization of UTM-chain, a lighter Blockchain based security solution that leverages Hyperledger fabric for UTM of low altitude UASs and UAVs. It can ensure secure and unalterable traffic data between the UAVs and their ground control stations, thus removing chances of untoward incidents. With further research, UTM evolution, and regulatory framework development, blockchain can be expected to play a critical role in the future of UAVs and UAS operations.
On the contrary, high cost of arthroscopy devices hurdles the growth of Europe unmanned traffic management market.
Based on type, the Europe unmanned traffic management market is bifurcated into persistent UTM and non-persistent UTM. The persistent UTM segment held 75.1% share of Europe unmanned traffic management market in 2022, amassing US$ 193.91 million. It is projected to garner US$ 818.18 million by 2030 to expand at 19.7% CAGR during 2022–2030.
Based on component, the Europe unmanned traffic management market is bifurcated into hardware and software. The hardware segment held 61.1% share of Europe unmanned traffic management market in 2022, amassing US$ 157.66 million. It is projected to garner US$ 573.16 million by 2030 to expand at 17.5% CAGR during 2022–2030.
Based on application, the Europe unmanned traffic management market is segmented into communications, navigation, surveillance & monitoring, and others. The communications segment held 40.7% share of Europe unmanned traffic management market in 2022, amassing US$ 104.97 million. It is projected to garner US$ 380.06 million by 2030 to expand at 17.4% CAGR during 2022–2030.
Based on end user, the Europe unmanned traffic management market is segmented into agriculture & forestry, logistics & transportation, surveillance, and others. The surveillance segment held 45.0% share of Europe unmanned traffic management market in 2022, amassing US$ 116.06 million. It is projected to garner US$ 426.09 million by 2030 to expand at 17.7% CAGR during 2022–2030.
Based on country, the Europe unmanned traffic management market has been categorized into France, Germany, the UK, Italy, and the Rest of Europe. Our regional analysis states that Germany captured 27.9% share of Europe unmanned traffic management market in 2022. It was assessed at US$ 72.11 million in 2022 and is likely to hit US$ 284.00 million by 2030, exhibiting a CAGR of 18.7% during the forecast period.
Key players profiles in the Europe unmanned traffic management market report are Airbus SE; Altitude Angel Ltd; Collins Aerospace; Frequentis AG; Leonardo SpA; Lockheed Martin Corp; Thales SA; and Unifly NV, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com