Air Traffic Management Market Significant Profits Estimated to be Generated by 2027
With the rapidly increasing modernization in the developed countries and increasing globalization of the businesses, the number of airports is increasing day by day and the need for the efficient management of the airports are increasing. Along with the increasing network between the airports, the number of airplanes is also increasing due to this factor the airport management has started to deploy the air traffic management systems into their daily operations. The traffic in the air is also increasing day by day similarly as with the increasing traffic on the roads, this scenario is emerging due to increasing global network between the airports and increasing travel and tourism at the international levels. The number of flight takes off from the airports are rising day by day. Air traffic management Is also increasingly deployed by the Military and defense areas for managing and controlling the air traffic issues near the defense planes and other aircrafts. The airports are increasingly deploying the air traffic management systems in their airport management as they are also able to generate the alerts and alarms while any other aircrafts get closer to the airplanes in the sky. Due to this application and benefits, the air traffic management systems are getting immense popularity. Also, the vendors of the air traffic management systems are focusing on the technological development s in the systems to expand the product portfolios as well as product offerings of the air traffic management systems.
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Global Air Traffic Management Market: Drivers and Restraint
The global market demand for the air traffic management market is primarily driven by the factors such as the increasing focus of the airports on the modernization of Air Traffic Management (ATM) infrastructure which was initially used. In addition to this the other factors such as the constant increase in the number of airports in the emerging economies in developing regions such as India, China, and others are also fueling the global demand for the air traffic management in the coming future. Due to increasing competition in the airport traveling services, the need for efficient airspace management is also increasing day by day and these factors are anticipated to drive the growth of the air traffic management market over the forecast period. Along with this the air traffic management systems are also actively contributing to maintaining the balance between the changing weather and airport activities. On the other hand, higher deployment cost and lack of awareness are the major restraining factors for the growth of the global air traffic management demand in the forecast years.
Global Air Traffic Management Market: Segmentation
The global market for the Air Traffic Management is segmented on the basis of the components and applications
Segmentation on the basis of component
The Air Traffic Management market is segmented on the basis of the component. This segmentation includes the Software Platform and Support Services. The Air Traffic Management systems are implemented using the components.
Segmentation on the basis of applications
This segmentation is performed on the basis of the applications of the Air Traffic Management. The applications segment includes the Communication & Navigation Management, Aerodrome Operations Management, Surveillance, and Other Applications The applications segmentation is performed on the basis of the end uses performed in the air traffic management by the end users.
Global Air Traffic Management Market: Industry Key Players
The players offering Air Traffic Management are FREQUENTIS AG, Thales Group, Indra Sistemas, Lockheed Martin, Harris Corporation, Presagis, M3 Systems, Saab, Croatia Control, Avitech Gmbh, and others. The key vendors are constantly focusing on new technological advancements in the Air Traffic Management to enhance the product offerings. Also, the companies are focusing on the strategies such as partnership, acquisitions, and mergers for geographical expansions.
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Global Air Traffic Management Market: Region-wise outlook
The global market for Air Traffic Management is divided on the basis of regions into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. Among these regions, the North America region dominates the market in terms of revenue generation because of the constant innovations of the advanced technologies for improvising the Air Traffic Management offerings and its applications. Also, North America region has the highest number of the airports. The Western Europe region follows the North America market due to the presence of developed countries and increasing transportation industry in this region followed by Western Europe. The APEJ region is expected to grow at highest CAGR in forecast period due to rapidly increasing globalization of the businesses and increasing airports network. The MEA and Latin America region are expected to grow at the moderate CAGR.
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