Global UAS Traffic Management (UTM) System Market Anticipated to Reach $3.62 Billion by 2026
LONDON, Jan. 23, 2018 /PRNewswire/ -- Global UAS Traffic Management (UTM) System Market Anticipated to Reach $3.62 Billion by 2026
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Presently, the UAS Traffic management (UTM) system market is in its development phase. There are number of factors that are pushing towards the need for a UTM architecture.
This includes increased adoption of drones, emerging regulations for the UTM system, and developments of the key stakeholders that are working together for developing a common UTM system. Furthermore, lucrative business opportunities are expected to emerge for different stakeholders with the UTM system replacing the existing air traffic management (ATM) for both manned and unmanned aviation.
Some of the key stakeholders involved in UAS traffic management system market are, UAS Service Supplier (USS), Commercial Drone Operator, Communication System Provider, Data Service Provider, Law Enforcement, and Air Navigation Service Provider (ANSP).
Among all the stakeholders, the role of USS will play the central part in the UTM systems market and it is also one of the biggest investable opportunities for companies in the overall UTM eco-system. By analysis, if becomes fully operational, the global UAS traffic management systems market has the potential to generate over $3 billion of revenue by the year 2026.
The following points provide a concrete description of the report content and the topics covered in the report:
• This report identifies the global UAS traffic management systems market for different stakeholders and geography
• The study includes the market analysis and forecast of the global commercial drones market from 2016 to 2026 in terms of volume
• The study talks about the prime factors affecting the growth along with the current and future trends in the UAS traffic management systems market
• The study also presents a detailed examination of the UAS traffic management systems market along with the market drivers, restraints, growth opportunities, and challenges
• The study provides detailed view of the UAS traffic management system industry dynamics through stakeholder analysis
• The report also provides a detailed patent analysis, and product mapping with key companies
• A detailed competitive analysis has been included in this report which focuses on the key market developments & strategies followed by the key players in the market
• The study provides a detailed view on the current regulations on drone operations in different geographies
• The study provides a holistic view on the future revenue potential of the UAS traffic management systems market
• The UAS traffic management systems market has been analyzed for all the geographies including North America, Europe, Asia-Pacific, and Rest of the World with further analysis of the key developments with respect to several major countries
The study provides detailed analysis of the 15 key players in the UAS Traffic Management System market including 3D Robotics, Inc., AirMap, Airware, Altitute Angel, Analytical Graphic, Inc., DeDrone, DJI Innovations, Gryphon Sensors, Kittyhawk.io, Microdrones, PrecisionHawk, SenseFly, Skyward.io, Unifly and vHive in the Company Profiles section. This section covers business financials, company snapshots, key products & services, major developments, future programs (if any), and finally, the individual SWOT analysis.
Executive Summary
The UAS Traffic Management (UTM) system is an upcoming phenomenon that is envisioned for managing drones (mainly small drones) traffic in the lower level of airspace. The UAS traffic management system or UTM system is envisaged to be a system of several subsystems which will work together to provide an end-to-end service.
The UTM system will be connected to different data providers to accumulate real-time information of weather, airspace traffic, drone registration and credentials of drone operators, among others. Although, UTM system uses different technologies than air traffic management (ATM) system, the basic key functionalities and the operations in the UAS traffic management systems are inspired from current manned aviation traffic management system.
The need of the UAS traffic management system is driven by a number of factors such as unprecedented increase in number of drones in the airspace, interest shown by different governments and emerging regulations, and collaboration of key stakeholders for the development of a working architecture.
However, security and safety concerns for public, privacy concerns, and vulnerability to cyber-attack are some of the major challenges for the UAS traffic management system. Moreover, potential business opportunities and its possibility of replacing the ATM system in the future are expected to make the UAS traffic management system market lucrative for different stakeholders involved in the UTM ecosystem.
The UTM system is envisaged to be a system of several subsystems . For the overall system to work properly it is necessary for each sub-system to work perfectly.
Some of the prominent stakeholders are UAS Service Supplier, Commercial Drone Operator, Communication System Provider, Data Service Provider, Law Enforcement, and Air Navigation Service Provider (ANSP). UAS Service Supplier (USS) is anticipated to be one of the core stakeholders in the UAS traffic management system market, and the USS will handle all the core functionality area in the overall market spectrum.
At present, companies do offer solutions but fully developed UTM systems are still not commercially available. However, because of constant developments by both the public and private sector stakeholders, the UTM system market has a potential to generate over a billion dollar revenue by the year 2026.
The UAS traffic management system market is segmented on the basis of geography such as North America, Europe, Asia Pacific and Rest of the World. North America and Europe are two prominent geographical regions which are working aggressively to develop the UAS traffic management system architecture.
The governments in the countries of these regions are collaborating with different stakeholders to draft rules and regulations for easier adoption of the system. Countries in the Asia-Pacific region are also taking proper measures to develop UTM system for incorporating more drones in the airspace.
Some of the key companies in the UAS traffic management system market include: AirMap, Unifly, and Skyward.io, 3D Robotics, Airware, Altitude Angel, Analytical Graphics, Inc., DeDrone, DJI Innovation, Gryphon Sensors, Kittyhawk.io, Microdrones, PrecisionHawk, SenseFly, and vHive.
Countries Covered
• North America
• Europe
• Asia-Pacific
• Rest of The World
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