FREMONT, California, April 9, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled "Global UAS Traffic Management (UTM) System Market – Analysis and Forecast, 2019-2030", the global UAS management system market is expected to reach $2.83 Billion by 2030. Owing to the several factors such as increased proliferation of drones in the airspace, emerging regulations for the UAS traffic management system, the unmanned aircraft system (UAS) traffic management system, or the UTM, market is expected to witness a robust growth rate.
In the current era, drones largely encompass a broad scope of application areas, ranging from agriculture, public safety, delivery of goods, photography, and surveillance. As the need for drones continues to rise, there is an urgent requirement of establishing a system for safely managing the unmanned aerial vehicles (UAVs) in the airspace.
Since 2015, National Aeronautics and Space Administration (NASA) has partnered with Federal Aviation Administration (FAA) and other unmanned aircraft systems (UAS) industry stakeholders to develop a research platform, commonly known as unmanned traffic management system, for safe integration of small UAS into low-altitude airspace. UAS traffic management system or UTM system is an upcoming phenomenon for managing drone traffic in lower airspace and is primarily being developed for small unmanned aerial systems.
UTM systems are expected to be connected to different data providers to accumulate real-time information on weather, airspace traffic, drone registration, and credentials of drone operators, among others. The basic functionalities and operations in the UAS traffic management systems are inspired from the current manned aviation traffic management system.
The key stakeholders involved in the UAS traffic management system market include UAS Service Suppliers, Commercial Drone Operators, Communication System Providers, Data Service Providers, Law Enforcement, and Air Navigation Service Providers (ANSP).
Highlights of the BIS Research Report:
UAS Service Suppliers (USS) is the biggest opportunity to invest for companies in the UAS traffic management ecosystem. Companies are likely to invest a substantial amount in order to set up a robust traffic management system in order to safely incorporate drones in the airspace. UAS service suppliers are expected to support drone operations in different environments such as urban and remote areas.
The UTM platform is designed to make full-use of live and virtual capabilities. External data sources are expected to provide all forms of data such as terrain maps, obstacle data, weather data and impact models, and airspace information. They also provide operational data, such as surveillance data and notice to airmen (NOTAM) information.
At present, fully-developed UAS traffic management systems are not commercially available. However, due to constant developments undertaken by both public and private stakeholders, the UTM system market has the potential to generate over a billion-dollar revenue in the next decade.
According to Sudheer Uniyal, Analyst at BIS Research, "The UAS traffic management market is growing tremendously around the world with the aim to incorporate drones safely into the low airspace. The system is expected to work under the regulations provided by federal agencies across the globe and is likely to benefit the commercial sector for various operations such as inspections of pipelines, disaster management services, medical emergency services, and many more."
The market research study offers a wide perspective of the unmanned traffic management system, its major types, key important elements in the ecosystem including communication infrastructure, UAS service suppliers, UAS operators, and key technologies for the unmanned traffic management system. The study also focuses on the global market for unmanned traffic management system, regulatory framework for unmanned traffic management, business opportunities for key stakeholders, and urban air mobility (UAM) concepts.
The study provides a detailed analysis of the market dynamics, applications, and region-wise segmentation of the global UTM market. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research, along with the analytical tools that have been used to build the forecast and the predictive models.
This report is a meticulous compilation of research on more than 40 players in the UAS traffic management ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 14 leading companies and market participants. The report also profiles around 14 companies such as AirMap, Unifly, Skyward, Airware, Altitude Angel, Analytical Graphics, Inc., AiRXOS, X (Project Wing), and PrecisionHawk.
Key questions answered in the report:
Which sub-segment among the technical infrastructure system and human interface components of the system segment is projected to drive the UAS Traffic Management (UTM)?
Which sub-segment among the portable unmanned traffic management system and persistent unmanned traffic management system of the type segment is projected to drive the UAS traffic management system?
What are the key enabling technologies that are supplementing the unmanned traffic management system?
What are the major business opportunities for the key stakeholders, such as drone operators, communication service providers, data service providers, law enforcement, and air navigation service providers in unmanned traffic management system market?
What is the expected impact of unmanned traffic management system on urban air mobility?
What is the regulatory framework for the unmanned traffic management system?
How can beyond the visual line of sight (BVLOS) be a game changer in the drone industry?
What are the global and regional emerging trends in unmanned traffic management system?
Which are the key companies that have made substantial funding in different start-ups in the unmanned traffic market space?
How is the industry expected to evolve during the forecast period?
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