The global air traffic management market size will gain impetus from the rise in investments made in airports worldwide. A report on the market by Fortune Business Insights™ titled, “Air Traffic Management Market Size, Share & Industry Analysis, By Type (AIM, ATC), By Application (Surveillance, Communication, Simulation, Automation), By Airport Type (Brownfield, Greenfield), By Component (Software, Hardware) and Geography Forecast till 2026,” throws lights on the major growth trajectories and key industry developments of the market.
According to the current market trends, the market is dominated by the brownfield segment with respect to categorization by airport type. This dominance is attributed to the rise in investments in modernizing airports such as equipment, building, and others.
Browse Report Summary:
List of the significant air traffic management market manufacturers include:
- Thales Group (France)
- BAE Systems (UK)
- Northrop Grumman Corporation (US)
- Saab AB (Sweden)
- Harris Corporation (US)
- Frequentis Comsoft GmbH (Germany)
- Indra Sistemas, SA (Spain)
- Raytheon Company (US)
- Honeywell International Inc. (US)
The report on air traffic management market focuses on major factors boosting, repelling, and challenging the market. The report throws light on key industry developments and the upcoming opportunities that these developments may bring. The market is segmented based on categories such as type, application, component, airport type, and geography. market analysis also presents the base and forecast figures along with the CAGR at which the market is forecasted to grow. Apart from this, other air traffic management market trends are provided in the report.
Adoption of Automation and Virtual Technology Will Promote Market Growth
The most important factor boosting the air traffic management market is the rising demand for smart airports worldwide. In addition, the rise in air traffic is also expected to increase the overal growth in the coming years. Furthermore, the adoption of virtual technologies and automation, such as predictive technology, synthetic intelligence, and remote towers, are further expected to help increase the overall air traffic management market revenue in the forthcoming years.
However, the high cost of air traffic management or ATM equipment may be a major restraint challenging the overall air traffic management market size in the coming years. Nevertheless, the implementation of the RNAV or area navigation techniques into air traffic controllers may create lucrative air traffic management growth opportunities in the long run.
Request a Sample Copy of the Market Research Report:
North America to Dominate Market on Account of Presence of Consistently Improving Airport Management Services
As per geographical segmentation, the global market is segmented into five major regions namely Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Among these, North America is holding a dominant market share and further prognosticated to continue dominating in the forecast period followed by Europe. This is attributable to the consistently improving ATM services and their programs. Additionally, the North American vicinity is popular for its best variety of airports. The Western part of Europe ranks second in the ATM market on account of the rise in the transportation industry and the presence of developed international airport locations. Furthermore, the market in Asia Pacific is likely to grow at a rapid pace with China in the leading position, on account of the rapid pace of industrial growth in the region.
Rapid Investments in Infrastructural Development of Brownfields to Intensify Market Competition
Air traffic management market vendors are emphasizing on technical developments in air traffic systems for better operations and attracting high revenue in the forecast period. Market vendors are also trying to renovate and upgrade the brownfield airports by investing in infrastructural developments. This will help players gain a competitive edge in the overall market.
Some of the key industry developments in the market are:
The development of a seamless ATM plan was chalked out by ICAO Regional Office in Bangkok, Thailand. This ATM plan was executed to improve air traffic management systems in the world’s largest aviation area with respect to Revenue Passenger Kilometers. This Seamless ATM plan was authorized by the Asia Pacific Navigation Planning and Implementation Regional Group or APANPIRG in mid-2013.
Have Any Query? Ask Our Experts: