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Air Traffic Management Market - Rise in Adoption of Remote & Virtual Towers | Honeywell International, Northrop Grumman Corp, Harris Corp, Raytheon Company, BAE Systems, Saab AB, Thales Group, Lockheed Martin Corp
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COVID-19 scenario analysis:
Air traffic management (ATM) has been particularly impacted by government-imposed travel ban and grounding of flights, owing to the COVID-19 scenario.
ATM system manufacturers are facing operational issues due disturbance in supply chain of raw materials & components, caused by the obligatory lockdown imposed by authorities to slow the spread of COVID-19.
Airports are forced to delay the on-going projects of airport construction and upgradation, in the wake of COVID-19 pandemic.
Aviation industry is suffering from financial losses in maintenance of airlines & airports without any growth in revenue, due fall in air passenger traffic after the COVID-19 outbreak.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
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Surge in investments in airports globally, increase in demand for smart ATM systems, and rise in adoption of remote & virtual towers are the factors that drive the global air traffic management market. However, high deployment cost and training cost for modern technology hinders the market growth. Contrarily, modernization of ATM, increasing number of airports, digital predictive techniques, and artificial intelligence present new pathways in the industry.
The global air traffic management market trends are as follows:
Surge in investments in airports globally
Increase in air passenger traffic has led to growth in number to new airports globally as well as increase in aircraft fleet size. Moreover, airports invest in construction of new air traffic control (ATC) towers to increase its ability of control more aircraft traffic. For instance, Kolkata airport (an airport in West Bengal, India) is expected to finish the construction of new control tower, by end of 2020, to replace the existing control tower. Hence, continuous investments in airport globally, to enhance the efficiency of air traffic management operations is expected to drive the global air traffic management market.
Rise in adoption of remote & virtual towers
Remote & virtual towers are used to regulate, assist, and maintain orderly air traffic operations remotely, unlike the local ground-based control tower. Remote towers are being adopted quickly by modern airports for faster & safe airport operation. For instance, in December 2018, Saarbrucken Airport (an airport in Saarland, Germany) deployed the Germany’s first remote tower to control air traffic from a city Leipzig (a city in Germany), 450 KM away from Saarbrucken. This remote tower is operated by Deutsche Flugsicherung (DFS), the company in-charge of air traffic control for Germany. Such investments in remote & virtual towers to increase air traffic management efficiency is expected to boost the global air traffic management market.
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Key benefits of the report:
• This study presents the analytical depiction of the global air traffic management industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global air traffic management market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global air traffic management market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global air traffic management market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the air traffic management market research report:
• Which are the leading market players active in the air traffic management market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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