During the forecast period, the air traffic management market is expected to generate US$ 10,541.0 million at a CAGR of 4.8%. By 2032, the market is anticipated to reach a value of US$ 16,783.0 million.
More individuals are anticipated to use air traffic control systems as the number of aircraft rises and the aviation sector quickly modernises. Additionally, throughout the projection period, there will likely be a rise in demand for air traffic management due to the increased traffic on the roads caused by an increase in the number of vehicles on the road. The demand for air traffic control systems has increased recently due to an increase in both domestic and international travel.
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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 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.
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.
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 the Middle East & Africa. Among these regions, the North American region dominates the market in terms of revenue generation because of the constant innovations of advanced technologies for improvising the Air Traffic Management offerings and its applications.
Also, the North American region has the highest number of airports. The Western Europe region follows the North American market due to the presence of developed countries and the increasing transportation industry in this region followed by Western Europe.
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Other Key Participants in the Air Traffic Management Market
- Presagis
- M3 Systems
- Saab
- Croatia Control
- Avitech Gmbh
Key Segments
By Component:
- Software Platform
- Support Services
By Application:
- Communication & Navigation Management
- Aerodrome Operations Management
- Surveillance
By Region:
- North America
- Latin America
- Europe
- MEA
- Asia Pacific
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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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