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Air Traffic Management Market Achieved USD 7.8 billion in 2021 and expected to reach USD 14.2 billion in 2029 | Size, Share & Report Forecast

10-11-2022 06:23 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Air Traffic Management Market

Air Traffic Management Market

Air Traffic Management Market

Air Traffic Management Market Touched USD 7.8 billion in 2021, and register a single digit CAGR 7.8% during the forecast period, and is anticipated to reach USD 14.2 billion in 2029

For More Info, Click to Access Complete Report - https://www.gmiresearch.com/report/air-traffic-management-market-analysis-industry-research/

The factors driving the growth of Air Traffic Management Market includes rise in the air passenger traffic around the world, expansion of the tourism industry, growing demand for smart ATM systems and increasing adoption of remote & virtual towers. According to the report published by Statista, the market size of the Global Tourism Industry has increase from around USD 1.09 trillion in 2020 and is estimated to reach USD 1.3 trillion in 2021, which will accelerate the Air Traffic Management Market size in the approaching years. Moreover, growing adoption of advanced technologies such as Internet of Things (IoT), wireless communication equipment and Artificial Intelligence (AI) and rise in the number of new airport projects across the globe, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes, rapid urbanization, and growing population growth rates, are further contributing to the market growth.

However, the growth of Air Traffic Management Market is hindered due to high cost of deploying air traffic management systems.

The prominent players operating in the market are Raytheon Technologies Corporation, Saab AB, Indra Sistemas SA, Adacel Technologies Limited, BAE Systems, Frequentis AG, Leonardo S.p.A, Northrop Grumman Corporation, Thales Group and SkySoft-ATM, among others.

Based on Systems, the Air Traffic Control segment is predicted to capture the largest market share during the forecast period

Increasing use of Air Traffic Control systems in military and defense areas and rise in the commercial air traffic, are some of the factors responsible for the segment's growth.

Based on Offering, the Hardware segment is projected to hold the highest market share over the forecast period

Increase in the launch of communication satellite devices, to control aircraft's direction, is propelling the growth of the segment.

Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period

Rise in the air passenger traffic, presence of the leading players such as Raytheon Technologies Corporation and Northrop Grumman Corporation, rapid growth in the tourism industry, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.

Key Developments

In 2020, Rohde & Schwarz Australia signed a contract with BAE Systems to deliver software-driven backup systems for Royal Australian Air Force (RAAF) air traffic control (ATC).
the OneSKY system in collaboration with Department of Defense and Airservices, launched OneSKY Australia Program, which will support future air traffic growth and enhance national security of Australia.

Market Segmentation

Segmentation by System

Aeronautical Information Management
Air Traffic Control
Air Traffic Flow Management
Airspace Management

Segmentation by Offerings

Software & Solutions
Hardware

Segmentation by Application

Communication
Navigation
Surveillance
Automation

Segmentation by End-Use

Military & Defence
Commercial

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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