2020 September, Magarpatta SEZ, Pune, “ReportsnReports”, one of the world’s prominent market research firms has released a new report on Global Air Traffic Management Market The report contains crucial insights on the market which will support the clients to make the right business decisions. This research will help both existing and new aspirants for Air Traffic Management Market to figure out and study market needs, market size, and competition. The report talks about the supply and demand situation, the competitive scenario, and the challenges for market growth, market opportunities, and the threats faced by Top key players.
The report also includes the impact of ongoing global crisis i.e. COVID-19 on the Air Traffic Management Market and what the future holds for it. The published report is designed using a vigorous and thorough research methodology and ReportsnReports is also known for its data accuracy and granular market reports.
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“Increasing investments in airports are one of the major drivers of the Air Traffic Management Market.”
The air traffic management market is projected to grow from an estimated USD 9.7 billion in 2020 to USD 17.6 billion by 2025, at a CAGR of 12.6% during the forecast period. The recommencement of global economic growth, an increase in number of passenger traffic, need of airspace management and modernization of air traffic management infrastructure are expected to drive the growth of the market.
The COVID-19 outbreak has impacted the aviation industry adversely due to air travel restrictions on domestic as well as international flights across countries, resulting in the sudden decrease in the air traffic. This is expected to negatively impact the air traffic management market in the short term; slow recovery is expected in Q1 of 2021. The aviation industry could take 2-3 years to recover from the financial effects of COVID-19, leading to lower air travels and passenger traffic compared to previous estimates.
Based on airspace, air traffic services segment projected to lead air traffic management market during the forecast period
Based on airspace, the Air Traffic Services (ATS) segment is estimated to dominate the air traffic management market in 2020 with a largest share. Increasing air traffic and airspace congestion and the need for advanced capabilities of the existing airspace are major factors that are expected to contribute to the growth of the ATS segment of the market during the forecast period.
Based on offering, hardware segment projected to lead air traffic management market during the forecast period
Based on the offering, the market has been segmented into hardware and software and solutions.Hardware is also used to provide positioning of aircraft, send alerts & weather data, communicate via voice & text, and facilitate safe landing & take-off, among others. Software is an essential component of ATM as it is responsible for processing all the data and information collected and exchanged between various hardware described above. It also helps in automating some of the ATM procedures.
Based on application, automation segment is projected to grow at the highest CAGR during the forecast period
Based on the application, the market has been segmented into communication, navigation, surveillance and automation. The automation segment accounts for the largest market size during the forecast period. The OEM segment is the fastest-growing market during the forecast period. The automation segment is growing substantially as airports and air traffic controllers are investing in simulators, and increased adoption of remote towers is fueling the market.
Asia Pacific is estimated to account for the largest share of the air traffic management market in 2020
Asia Pacific region is expected to account for the largest share of the global market in 2020. The market is growing at a significant pace in the Asia Pacific region, majorly driven by the increasing air passenger traffic. The market in Asia Pacific is projected to grow significantly owing to high investments in the modernization of airport and construction of new regional airports. The Civil Aviation Administration of China (CAAC) is expected to build 66 new airports during the forecast period. This expansion, which will increase the number of airports in Mainland China from 206 to 272, and is expected to fuel the growth of the market during the next five years.
Break-up of profile of primary participants in the Air Traffic Management Market:
- By Company Type: Tier 1 – 77%, Tier 2 – 15%, and Tier 3 – 8%
- By Designation: Others – 79%, C Level – 16%, and Director Level – 5%
- By Region: North America – 51%, Europe – 16%, Asia Pacific – 15%, and Rest of the World–18%
Raytheon Company (US), Indra Sistemas S.A. (Spain), Harris Corporation (US), Thales Group (France), Honeywell International Inc. (US), Northrop Grumman Corporation (US), Advanced Navigation and Positioning Corporation (US), and Saab AB (Sweden) are the key manufacturers of ATM systems in the North American and European regions. These companies have well-equipped manufacturing facilities as well as strong distribution networks across the North American, European, Asia Pacific, Middle East, Latin America and Africa region.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Air Traffic Management Market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the air traffic management market. Competitive analysis of upcoming startups in Air Traffic Management Market ecosystem is covered in this report.
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The global Air Traffic Management Market is expected to witness a promising growth in the next few years. The rising level of competition among the leading players and the rising focus on the development of new products are likely to offer promising growth opportunities throughout the forecast period. The research study on the global Air Traffic Management Market offers a detailed overview, highlighting the key aspects that are expected to enhance the growth of the market in the near future. The key segmentation and the competitive landscape of the market have also been mentioned at length in the research study.
This report studies the Air Traffic Management Market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Air Traffic Management Market by product type and applications/end industries. These details further contain a basic summary of the company, merchant profile, and the product range of the company in question. The report analyzes data regarding the proceeds accrued, product sales, gross margins, price patterns, and news updates relating to the company.
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The report helps to identify the main Air Traffic Management Market players. It assists in analyzing Air Traffic Management Market competitive environment, including company overview, company total revenue, market opportunities, value, production sites and facilities, SWOT analysis, product details. The study also reveals the sales, revenue and market share for each market player included in this report for the period of 2015-2020. It also helps to ascertain the growth drivers and future prospects for the forecast timeline.
Conclusively, this report is a one stop reference point for the industrial stakeholders to get Air Traffic Management Market forecast of till 2025. This report helps to know the estimated market size, market status, future development, growth opportunity, challenges, growth drivers of by analyzing the historical overall data of the considered market segments.
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