Dublin, Dec. 29, 2022 (GLOBE NEWSWIRE) -- The "Air Traffic Management Market Share, Size, Trends, Industry Analysis Report, By Application; By Airspace; By End-Use; By Region; Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global air traffic management market size is expected to reach USD 15.01 billion by 2030, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising construction of new airports, expansion of various existing airports, and rapid growth in global air traffic are the key major factors projected to drive the growth of the global market. Various emerging economies around the globe are shifting their focus on the development and improvement of air travel within and across their borders, which is likely to have a positive impact on global market growth over the coming years.
For instance, United States airlines carried around 674 million passengers in 2021, with a significant increase of 82.5% from 2020 (369 million passengers). And in China, about 440.6 million passengers traveled by air, an increase of 5.5 percent from the last year. These numbers show a slight recovery in the global aviation industry after the COVID-19 outbreak in 2020.
The high technological advancements and introduction to new and innovative solutions by several key market players around the globe are contributing significantly to the growth of the global market. For instance, in November 2021, Honeywell announced the launch of its new generation NAVITAS software suite platform for supporting the several operations of airport operators and navigation service providers. The new software complies with artificial intelligence, big data, machine learning, and cybersecurity, which is expected to support the automation and digitization of air traffic services.
Air Traffic Management Market Report Highlights
- Automation segment is projected to grow rapidly throughout the forecast period due to the high engagement in stimulations and a growing number of flights offered by several airlines.
- Air traffic services accounted for the largest market share in 2021, owing to increased global air traffic and rising prevalence among various sectors, such as air traffic controls and alerting services.
- Commercial sector held a significant revenue share in 2021 and is projected to maintain its dominance throughout the forecast period because of the rising need for maintenance and upgradation of ATM systems around the globe.
- North America dominated the global market with a healthy market share in 2021 owing to the increased adoption of highly advanced technologies for developing regional airports. Moreover, the Asia Pacific region expects the fastest CAGR during the forecast period due to the increasing industrialization and construction of new airports.
- The global market is highly fragmented, with many well-known, established market players, including Northrop Grumman Corporation, Honeywell International Inc., and Thales Group.
Market Dynamics
Drivers and Opportunities
- Rise in Investment in Airport Infrastructure
- Global Focus on Improving Air Safety
Restraints and Challenges
- High Cost of Air Traffic Management Equipment
The publisher has segmented the air traffic management market report based on application, airspace, end-use, and region:
Air Traffic Management, Application Outlook (Revenue - USD Billion, 2018 - 2030)
- Communication
- Navigation
- Surveillance
- Automation
Air Traffic Management, Airspace Outlook (Revenue - USD Billion, 2018 - 2030)
- Air Traffic Services
- Air Traffic Flow Management
- Airspace Management
- Aeronautical Information Management
Air Traffic Management, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
- Commercial
- Military
Air Traffic Management, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $8.02 billion |
| Forecasted Market Value (USD) by 2030 | $15.01 billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Air Traffic Management Market Insights
5. Global Air Traffic Management Market, by Application
6. Global Air Traffic Management Market, by Airspace
7. Global Air Traffic Management Market, by End-Use
8. Global Air Traffic Management Market, by Geography
9. Competitive Landscape
10. Company Profiles
Companies Mentioned
- Northrop Grumman Corporation
- Honeywell International Inc.
- Thales Group
- L3 Harris Technologies Inc.
- Raytheon Company
- Intelcan Technosystems Inc.
- Global Eagle Entertainment Inc.
- Becker Avionics Inc.
- BAE Systems Plc.
- Sierra Nevada Corporation
- Thales Group
- Kongsberg Geospatial
- Frequentis AG
- The Aeronav Group
- Advanced Navigation & Positioning Corporation Inc.
- Searidge Technologies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/myhdqr
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
