Global UAS Traffic Management (UTM) System Market Anticipated to Reach $3.62 Billion by 2026
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