The global air traffic management market is anticipated to grow at a significant CAGR during the forecast period. The market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The North American and Asia-Pacific regions are estimated to grow significantly during the forecast period. The North American regional growth is accredited to the constant innovations and development of novel and advanced technologies for enhancing air traffic management. The region also has the highest number of airports, and have a large pool of air passenger traffic. Thus, all these factors together contribute to the regional growth of the air traffic management industry.
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Asia-Pacific growth is accredited to the increasing globalization along with the rise in the number of airports. The growth is also attributed to enhancing air travel and the presence of huge automotive players in the region. The changing preferences of the passengers to travel via air are rapidly increasing. Air passenger is expected to increase in the near future and China is expected to be the world’s largest aviation market across the globe, according to the International Air Transport Association (IATA). The fast-growing aviation market will increase the burden to airport infrastructure due to several safety concerns. These measures prominently include the proper management and controlling of air traffic, which thereby supports the regional growth of the air traffic management market.
Followed by North American and Asia-Pacific region, Europe also registers a significant growth due to the increasing transportation industry in the region. UK, Germany, Spain, Italy, France, and the Netherlands are the major countries contributing to the air traffic management market growth as these countries are home to some of the prominent aerospace manufacturers which contribute to the overall growth of the market over the forecast period.
Further, the prominent players operating in the global air traffic management market have contributed in various ways to cater to the growing demands. The prominent players operating in the global air traffic management market include BAE Systems Plc, Honeywell International Inc., Northrop Grumman Corp., Thales Group, L3 Harris Technologies Inc., Raytheon Co., Saab AB, Lockheed Martin Corp., and others. Also, these players have adopted several growth strategies to cope with the highly competitive air traffic management market across the globe.
Global Air traffic management Market – Segmentation
By Component
- Hardware
- Software
By System
- Air Traffic Control
- Airspace Management
- Air Traffic Flow Management
- Others
By End-User
- Commercial
- Tactical
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