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Air Traffic Management Market in Software Segment is Expected to Grow Significantly Over 2025| Key Players are ADACEL, Harris Corporation, Inmarsat Aviation, Frequentis, Indra Sistemas, NATS, Northrop Grumman, and Park Air Systems
Air Traffic Management Market
The air traffic management market share based on component is segmented into hardware and software. The software segment is expected to grow significantly on account of the requirement for advanced software solutions for carrying out appropriate integration with hardware. Moreover, the advancements in software for improving user experience along with enhancing compatibility with modern hardware are further expanding the segment share.
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Industry players are continuously investing in R&D for developing advanced and efficient communication technologies for improving their market share. For instance, in February 2019, the U.S. Air Force awarded USD 59 million contract to Northrop Grumman for carrying out the engineering & manufacturing development (EMD) of embedded GPS and inertial navigation systems.
Air Traffic Management Market is poised to retain substantial gains over the forecast timeframe on account of requirement for safe, reliable, efficient, and integrated movement of air traffic. Increasing airplane movements owing to rising air passenger traffic along with expanded network of air routes are expanding the industry share. The increasing number of airborne flights owing to significant increase in the low-cost carriers are positively influencing the market growth.
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The growth in the North America air traffic management market can be attributed to the increasing investments by government agencies in the defense and military sector. Additionally, the defense operations require precise and efficient air traffic management for carrying out specialized missions. For instance, the U.S. Defense budget for 2019 amounted to around USD 690 billion.
Europe will account for a significant share in the air traffic management market. This can be credited to the proliferation of low-cost carriers across the region. The region also witnesses significant growth in air passenger travel on account of improving sector along with improving disposable income. Additionally, the aviation governing bodies are continuously engaged in forming new policies and enacting certain recommendation for ensuring smoother airlines operations, thereby expanding the regional share.
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Based on application, the air traffic management market share is segmented into navigation, surveillance, communication, flight data processing systems (FDPS), and aerodrome operations management. The communication segment is expected to grow at a significant rate to felicitates communication between the pilot and the air traffic controller. The proliferation of Voice over Internet Protocol (VoIP) services combining voice and data services along with improvements in transmission and communication systems are playing a major role in segment share expansion over the projected timeframe.
The air traffic management market based on airport is segmented into greenfield airport and brownfield airport. The growth in the brownfield airport can be credited to the increasing investments by government agencies and industry players for carrying out modernization of existing airports. For instance, in 2013, the Hawaii Department of Transportation announced its plans for modernizing its airport with a project worth at USD 1.6 billion.
Few players operating in the air traffic management market include ADACEL, Harris Corporation, Inmarsat Aviation, Frequentis, Indra Sistemas, NATS, Northrop Grumman, and Park Air Systems. Industry players are continuously engaged in R&D for developing new products for expanding the market share.
Browse Related Report:
Inertial Navigation System Market Size in Navigation Grade Segment is Anticipated to Observe Highest Growth By 2024 : https://www.marketwatch.com/press-release/inertial-navigation-system-market-size-in-navigation-grade-segment-is-anticipated-to-observe-highest-growth-by-2024-2019-05-29
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