By 2023, the market for air traffic management is anticipated to reach US$ 10,889.2 million, growing at a 4.9% CAGR. By 2033, the market is anticipated to reach US$17,624.5 million.
The adoption of air traffic management systems is predicted to expand as a result of modernization’s rapid expansion and the increase in aircraft. Furthermore, during the anticipated period, a growth in the number of vehicles on the road will probably result in more people needing air traffic control.
The demand for air traffic management systems has grown recently due to an increase in travellers and global tourism. For managing and controlling the air traffic concerns around the defence planes, the air traffic management industry share is also growing in the military and defence sectors.
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The industry that offers services and technologies to manage air traffic to ensure the safe and effective operation of airplanes in the airspace is referred to as the “air traffic management market.” Aircraft must be able to navigate through congested airspace and land at airports safely and efficiently, which requires the employment of sophisticated operational procedures and cutting-edge communication, navigation, and surveillance systems.
The rising demand for air travel, which is anticipated to continue growing in the upcoming years, especially in emerging nations, is what drives the air traffic management industry. The industry is additionally benefited from the global air traffic control system modernization that is currently underway, with several nations investing in new technologies and infrastructure to enhance safety, efficiency,
Players in the air traffic management industry compete on grounds like pricing, performance, dependability, and innovation. The market is also subject to a variety of legal restrictions and guidelines, which may have an impact on how quickly new systems and technologies are adopted and implemented.
Recent Developments in the Air Traffic Management
- Recently, the new 5G air-to-ground is designed to manage air traffic seamlessly at airports. It is a wireless network that provides real-time analytics, boosting aircraft command and transferring data rapidly. Nokia Telecommunication also uses the same technology network at Brussels airport.
- FAA is adopting TBO (Trajectory Based Operations) which is more flexible, throughput, efficient and predictable. The technology controls air traffic management and helps aircraft movement.
Other Key Participants in the Air Traffic Management Market
- Presagis
- M3 Systems
- Saab
- Croatia Control
- Avitech Gmbh
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 other factors such as the constant increase in the number of airports in emerging economies in developing regions such as India, China, and others are also fueling the global demand for air traffic management in the coming future.
Due to increasing competition in 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 costs and lack of awareness are the major restraining factors for the growth of the global air traffic management demand in the forecast years.
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Key Segments
By Component:
- Software Platform
- Support Services
By Application:
- Communication & Navigation Management
- Aerodrome Operations Management
- Surveillance
By Region:
- North America
- Latin America
- Europe
- META
- Asia Pacific
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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