Air Traffic Management Market Size,Share,Analysis,Growth,Trend, Opportunity, Key Findings -BAE Systems, Frequentis Comsoft GmbH, Honeywell International Inc., Saab AB Forecast till 2023
The global sir traffic management market is predicted to demonstrate a CAGR of 9% during the forecast period (2018-2023), Market Research Future (MRFR) reveals in a detailed analysis. Air traffic management (ATM) systems are extensively used to direct aircraft to land at specific locations, ensure the safety of the passengers, and maintain an optimal height while traveling. ATM includes navigation, communication, surveillance, simulation, and automation systems.
Air Traffic Management Market Potential and Pitfalls
The global air traffic management market has witnessed a tectonic surge over the past few years due to the growing airspace congestion, along with the demand for reliable air traffic infrastructure and modernization of airports. The rising focus on commercializing UAVs, new ATM infrastructure, and vertical take-off and landing aircraft are some of the major factors contributing to the growth of the air traffic management market globally. Factors like a continuous increase in the number of airports, especially in emerging economies like China and India is likely to impact the market positively.
The surging need for efficient airspace management and rising competition in the airport traveling services are estimated to contribute to the growth of the market in the coming years. Air traffic management systems are actively contributing to maintaining the balance between airport activities and changing the weather. Such factors are likely to promote the growth of the market across the globe.
On the contrary, the dearth of skilled workforce in order to operate modern ATC systems is likely to restrict the growth of the market. Moreover, with the increased cyber threats, the market is predicted to exhibit slow growth.
Air Traffic Management Market Competitive Dashboard
The players dominating the global air traffic management market include Harris Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), Indra Sistemas, SA (Spain), ANPC (US), and Thales Group (France).
Global Air Traffic Management Market: Segmental Analysis
The air traffic management market is segmented on the basis of type, component, airport type, and system.
By platform, the air traffic management market is segmented into air traffic flow management, air traffic control, and aeronautical information management. Of these, the air traffic control segment is likely to acquire the lion's share due to the increased focus to implement the latest ATC systems in order to cater to the booming airspace and air-traffic congestion.
By component, the air traffic management market is segmented into hardware and software. Of these, the hardware segment is predicted to account for a larger share as the overall ATM process depends on the hardware, which is deployed to transmit data, collect real-time information, and maintain proper flow of air traffic in the air as well as on the ground.
By airport type, the air traffic management market is segmented into greenfield and brownfield. Of these, the greenfield segment is likely to expand at a faster rate as modernization, and further expansion of airport systems are possible in these types of airports.
By system, the market is segmented into navigation, communication, automation, surveillance, and simulation. Among these, the communication segment is likely to acquire the largest share as these systems are crucial in directing flights based on height, distance, and time of approach.
Air Traffic Management Market Regional Frontiers
Geographically, the air traffic management market spans across Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.
Considering the global scenario, North America acquired the largest share in 2017 and is likely to retain its dominance in the foreseeable future. The growth can be attributed to the strict air safety regulations, especially in countries like Canada and the U.S.
The Asia Pacific is likely to emerge as the fastest expanding region across the globe, owing to the increased demand for ATM systems in the modernization of airports. The development of new airports, coupled with the surging number of air passengers, are considered to impact the market growth positively.
Europe is likely to gain prominence in the coming years due to the rising brownfield airport investments along with the Single European Sky program, which will bring in modernization to the existing ATM systems.
Air Traffic Management Industry Updates
June 2019: Civil Aviation Minister has recently inaugurated the Central Command Centre for Air Traffic Flow Management in Delhi. The central ATFM system is meant to balance the capacity against the surging demand to gain optimum utilization of airspace, airport, and aircraft as major airports across the globe are facing capacity constraints.
Global Air Traffic Management Market: Information by Type (ATC, ATFM, & AIM), Component (Hardware & Software), Airport Type (Greenfield & Brownfield), System (Communication, Navigation, Surveillance, & Automation & Simulation), & Region--Forecast till 2023 @ https://www.marketresearchfuture.com/reports/air-traffic-management-market-6775
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