ArcMap Merge Road-This segment is merged into a complete road

#1: Management tools\generalization\dissolve tool with Arctoolbox\data
#2: Options:dissolve field Item Select merge fields to merge by those fields, which is the last reserved field.

Assuming that the other fields also want to bring the results, you can select in the Statistics field, set the rules "can set the rules are limited, that is, sum, average, maximum, minimum and so on."
#3: Special tips: Here's a Create multipart features option. Tick the words. Merge attributes are also merged in the same location, and are not checked if you want to merge the same attributes adjacent to each other.

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ArcMap Merge Road-This segment is merged into a complete road