Increasing investments in airports are one of the major drivers of the Air Traffic Management Market.
The air traffic management market is projected to grow from an estimated USD 9.7 billion in 2020 to USD 17.6 billion by 2025, at a CAGR of 12.6% during the forecast period. The recommencement of global economic growth, an increase in number of passenger traffic, need of airspace management and modernization of air traffic management infrastructure are expected to drive the growth of the market.
The COVID-19 outbreak has impacted the aviation industry adversely due to air travel restrictions on domestic as well as international flights across countries, resulting in the sudden decrease in the air traffic.This is expected to negatively impact the air traffic management market in the short term; slow recovery is expected in Q1 of 2021.
The aviation industry could take 2-3 years to recover from the financial effects of COVID-19, leading to lower air travels and passenger traffic compared to previous estimates.
Based on airspace, air traffic services segment projected to lead air traffic management market during the forecast period Based on airspace, the Air Traffic Services (ATS) segment is estimated to dominate the air traffic management market in 2020 with a largest share. Increasing air traffic and airspace congestion and the need for advanced capabilities of the existing airspace are major factors that are expected to contribute to the growth of the ATS segment of the market during the forecast period.
Based on offering, hardware segment projected to lead air traffic management market during the forecast period Based on the offering, the market has been segmented into hardware and software and solutions.Hardware is also used to provide positioning of aircraft, send alerts & weather data, communicate via voice & text, and facilitate safe landing & take-off, among others.
Software is an essential component of ATM as it is responsible for processing all the data and information collected and exchanged between various hardware described above. It also helps in automating some of the ATM procedures.
Based on application, automation segment is projected to grow at the highest CAGR during the forecast period Based on the application, the market has been segmented into communication, navigation, surveillance and automation.The automation segment accounts for the largest market size during the forecast period.
The OEM segment is the fastest-growing market during the forecast period. The automation segment is growing substantially as airports and air traffic controllers are investing in simulators, and increased adoption of remote towers is fueling the market.
Asia Pacific is estimated to account for the largest share of the air traffic management market in 2020 Asia Pacific region is expected to account for the largest share of the global market in 2020.The market is growing at a significant pace in the Asia Pacific region, majorly driven by the increasing air passenger traffic.
The market in Asia Pacific is projected to grow significantly owing to high investments in the modernization of airport and construction of new regional airports.The Civil Aviation Administration of China (CAAC) is expected to build 66 new airports during the forecast period.
This expansion, which will increase the number of airports in Mainland China from 206 to 272, and is expected to fuel the growth of the market during the next five years.
Break-up of profile of primary participants in the Air Traffic Management Market: • By Company Type: Tier 1 – 77%, Tier 2 – 15%, and Tier 3 – 8% • By Designation: Others – 79%, C Level – 16%, and Director Level – 5% • By Region: North America – 51%, Europe – 16%, Asia Pacific – 15%, and Rest of the World – 18%
Raytheon Company (US), Indra Sistemas S.A. (Spain), Harris Corporation (US), Thales Group (France), Honeywell International Inc. (US), Northrop Grumman Corporation (US), Advanced Navigation and Positioning Corporation (US), and Saab AB (Sweden) are the key manufacturers of ATM systems in the North American and European regions. These companies have well-equipped manufacturing facilities as well as strong distribution networks across the North American, European, Asia Pacific, Middle East, Latin America and Africa region. .
Research Coverage: The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Air Traffic Management Market.A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the air traffic management market.
Competitive analysis of upcoming startups in Air Traffic Management Market ecosystem is covered in this report.
Reasons to buy this report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall air traffic management market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers: • Market Penetration: Comprehensive information on air traffic management offered by top players in the market • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the air traffic management • Market Development: Comprehensive information about lucrative markets – the report analyzes the Air Traffic Management Market across varied regions • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Air Traffic Management Market • Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in Air Traffic Management Market
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