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Air Traffic Management Market
The global air traffic management market size is estimated to register a compound annual growth rate (CAGR) of 5.8% during the forecast period i.e., 2020-2025. Moreover, global air traffic management market is estimated to reach USD 10.1 Billion in 2020 and is anticipated to reach to a market valuation of USD 18.2 Billion between 2020 & 2025. Over the past years, the market has grown at a significant rate and is projected to showcase lucrative growth in the coming years owing to rising number of passengers traffic and increasing demand for airspace management.
Among transportation modes, air transportation is being adopted by consumers and air travel is witnessing growth in consumer spending. Owing to this, demand for better airspace management has grown in past years. Further, air traffic is anticipated to increase which will increase the demand for airports in years ahead. This factor will drive the growth of air traffic management market in the years ahead. Aviation authorities are introducing new measures to control air traffic efficiently. Many developed countries across the globe are making investments in upgrading airports. In addition to this, various developing regions such as Middle East, Asia, and other countries This is resulting in demand for air traffic solutions. Further, rising global population and affluent middle-class population are expected to increase congestion in airspace which will cater to demand for air traffic management. According to International Civil Aviation Organization, global passenger traffic is expected to grow at 4.2% annually from 2018 to 2038.
Factors such as high cost of air traffic control systems is anticipated to dampen the growth of global air traffic management market during forecast period. Low economic countries are not making heavy investments in air traffic management systems.
The global market for air traffic management is segmented by airspace, offering, application, airport size and end use. On the basis of airspace, the market is segmented into Air Traffic Services, Air Traffic Flow Management, Airspace Management and Aeronautical Information Management, out of which, air traffic services segment is anticipated to be leading segment over the forecast period, i.e., 2020-2025. Rising air congestion is one of the major factors which is contributing to the growth of this segment.
Based on offering, the market is hardware, software and solutions, out of which, software segment is anticipated to flourish at highest CAGR during the forecast period. Also, by end use, the market is segmented into commercial and military, out of which, market value of air traffic management in commercial segment captured significant portion of market.
In terms of geography, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the air traffic management market, Asia Pacific is anticipated to capture a largest market share over the forecast period. Factor such as growing air traffic and rising military expenditure is envisioned to drive the growth of Asia Pacific market. Further, the Asia Pacific market is driven on the back of high investments in airport upgradation and is anticipated to grow at a notable compound annual growth rate (CAGR) from 2020 to 2025.
The report also covers detailed competitive analysis of major market players of global air traffic management market, such as Raytheon Technologies, Indra Sistemas, S.A., L3harris Technologies, Inc, Thales Group, Northrop Grumman Corporation, Honeywell International, Inc., Saab AB, Bae Systems Plc., Frequentis AG, Lockheed Martin Corporation, Servona Gmbh and other major & niche players. The global air traffic management market is witnessing a wide range of industry activities such as product launch, partnership, acquisition, innovation, research & development, and expansion across the globe.
By Airport Size
By End Use
The report profiles various major market players such as
The report offers a comprehensive insight on the Air Traffic Management Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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