Selbyville, Delaware, Sept. 10, 2019 (GLOBE NEWSWIRE) --
The air traffic management market value is poised to surpass $10 billion by 2025, according to a 2019 Global Market Insights, Inc. report. The rise in passenger traffic and improvement in the global economy will augment the market growth over the study timeframe.
Hardware segment in air traffic management market is expected to witness significant gains over the forecast period with the rise in new airport investments. The hardware solution is necessary for carrying out various operations with the help of navigation, communication, and surveillance systems. The technological advancements in hardware will enhance the safety and user experience. The expansion of the existing airports and construction of new airports have generated a high demand for air traffic management hardware components across the globe. The countries including Indonesia and Australia are planning to come up with new airports by 2025.
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The air traffic control system will register a growth of over 3% by 2025 due to the growing adoption of new technology, increasing application of artificial intelligence, 4D trajectory prediction systems and other software are continuously upgrading systems of air traffic control. The air traffic control provides major services in airports, which include clearance for aircraft landing & takeoff and provides instructions for aircraft on the ground. The main aim of this system is to prevent aircraft collision with other aircraft and equipment at the time of maneuvering on the ground and in air.
Asia Pacific dominates the air traffic management market size due to increasing number of new airport investments in countries including Australia, China, India, Vietnam, and Indonesia. The growth in the economy has led to the increasing passenger traffic and cargo movement in this region. The airport authorities are investing in regional connectivity and infrastructure development of the existing airport to accommodate the increasing passenger and cargo movements.
Browse key industry insights spread across 260 pages with 298 market data tables & 32 figures & charts from the report, “Air Traffic Management Market By Component (Hardware {Communication, Navigation, Surveillance}, Software), System (Air Traffic Control, Airspace Management, Air Traffic Flow Management, Aeronautical Information Management), Regional Outlook, Competitive Market Share & Forecast 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/air-traffic-management-market
The Middle East & Africa air traffic management market share will witness over 3% CAGR over the study timeframe with huge investments in the aviation industry. The liberalization of regulations will also drive the market.
The marketplace is consolidated with the presence of major industry participants including Raytheon, Harris Corporation, Thales Group, Saab AB, and Northrop Grumman Corporation, strengthening their R&D capabilities for developing innovative solutions incorporating advanced technologies.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.