According to Unmanned Airspace’s latest 2022-2026 edition of its bi-annual sector survey The market for UAV Traffic Management Services the global UAS traffic management (UTM)/U-space market will be worth USD 1,999 million in the next five years. This is a considerable rise over the December 2021 survey, which forecast a USD1.37 billion market for 2021-2025.
However, the report notes that only two nationwide UTM programmes were launched in the first six months of 2022. “This is surprising, given the January 2023 date for European Union U-space regulation to be in place,” said Butterworth-Hayes. “But a number of factors have slowed down the deployment of UTM technologies, including budgetary constraints following the Covid pandemic, a lack of clarity of granular detail in the proposed regulations and continuing confusion around the business case for UTM technology suppliers and service providers”.
Hence, the report urges the development and implementation of urban traffic management technology to ensure the growth of the urban air mobility market.