Global Unmanned Aerial System (UAS) Traffic Management System Market Anticipated to Reach $3.62 Billion by 2026, Reports BIS Research
EDINA, Minnesota, March 14, 2018 /PRNewswire/ --According to a new market intelligence report by BIS Research, titled "Global Unmanned Aerial System (UAS) Traffic Management System Market", the UAS Traffic Management System market is expected to reach $3.62 Billion by 2026.
UAS Traffic Management (UTM) system is a concept which is under development and will be used to control the drone traffic in the airspace. The UAS traffic management system is being developed to ensure that drones do not collide among each other and also with other flying objects in the same airspace. The system is primarily being developed for the small commercial drones that will operate in Beyond Visual Line of Sight (BVLOS) applications. One of such futuristic applications is the delivery of parcels through drones that will require the drones to fly over populated areas and to ensure complete safety of people beneath the drones, for which a UAS traffic management system will be mandatory.
Browse 33 market Data Tables and 81 Figures spread through 179 Pages and in-depth TOC on "Global Unmanned Aerial System (UAS) Traffic Management System Market"
The rise in the number of drones in the airspace is one of the prominent reasons which is pushing forward the need of UAS traffic management system. Furthermore, the vast opportunity for the drones is still untapped in beyond visual line of sight applications which have created an urgent requirement for the UAS traffic management system. At present, different government bodies of several countries across the globe are working alongside private companies to develop an architecture for UTM system and finalize the regulations for its operation in future. With the increased efforts from the governments, the uses of drones has considerably increased across commercial and personal applications. However, the rise in the usage of drones has also given a rise to several concerns such as, safety and privacy of public, which work as one of the prime restraining factors in the market. Despite these restraining factors, there are a number of potential growth opportunities for UTM system market such as the opportunities for key stakeholders involved in the system and the future opportunity for the UTM system to emerge as an alternative to Air Traffic Management (ATM) system in future are some of the major opportunities in the UTM system market. According to BIS Research analysis, the global UAS traffic management system market is estimated to reach $3.62 billion by 2026.
The UTM system will work with the help of several sub-systems that will cooperate with each other to provide an end-to-end service. These subsystems shall be controlled by different entities that will form a set of key stakeholders in the overall UTM system market. These stakeholders are UAS Service Supplier (USS), commercial drone operators, communication system provider, data service provider, law enforcement entities and Air Navigation Service Providers (ANSPs). The UAS Service Supplier (USS) is expected to emerge as one of the most prominent stakeholders in the market placed right at the center of the UAS traffic management system market. The government entities and private companies are working together to define the roles and responsibilities of USS. AirMap, Unifly, and Skyward.io, 3D Robotics, Airware, Altitude Angel, Analytical Graphics, Inc., and PrecisionHawk, are some of the key stakeholders that are collaborating with other companies for the development of a common UAS traffic management architecture.
According to Rahul Papney, lead analyst at BIS Research, "UAS Traffic Management (UTM) system is primarily expected to be a key enabler for integrating more drones in the airspace. At present, most of the technologies required for the UTM system are available, however, the biggest hurdle in its implementation is the lack and non-uniformity of the regulations for drone operation across the globe. Once, the regulations will be in place, the number of drones in airspace will increase manifold and the UTM system market will potentially become a billion dollar industry."
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The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The report also provides a detailed competitive analysis of all the stakeholders including their roles and responsibilities, current challenges and future opportunities. The report also includes a comprehensive section on the geographical analysis including the key developments in the prominent countries.
The report is a meticulous compilation of research on more than 50 players in the UAS traffic management ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies and market participants. The report also profiles around 15 companies which include AirMap, Unifly, and Skyward.io, 3D Robotics, Airware, Altitude Angel, Analytical Graphics, Inc., and PrecisionHawk.
Key questions answered in the report:
- What are the major market drivers, challenges and opportunities in the global UAS traffic management system market?
- How the UAS traffic management system market is evolving and what is its scope in the future?
- What was the total unit shipment in the global commercial drones market in 2016, and what is the forecast till 2026?
- Who are the different stakeholders and how are they contributing to the market?
- What are the current challenges and future opportunities for the key stakeholders?
- What will be the possible revenue model of the UAS traffic management system market?
- What are the key developmental strategies implemented by the key players to stand out in this market?
- What are the key developments taking places in the UAS traffic management system market in different geographies?
- What are the major challenges and future opportunities across different geographies for the key market players?
- Who are the key players in the global UAS traffic management system market?
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on Healthcare, Automotive, Aerospace and Agriculture and other key industries that are seeing rapid technological disruption.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
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