DUBLIN--(BUSINESS WIRE)--The "America Air Traffic Management Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The America air traffic management market is projected to grow with a CAGR of more than 10% during the forecast period.
The growth in demand for air travel and aerial connectivity in North America and Latin America region has pushed the airlines to introduce new routes and increase flight movements, to cater to its growing demand. This is anticipated to generate demand for new ATC solutions in the region.
The construction of new airports as well as expansion and modernization plans of the existing airports in the region is anticipated to propel the demand for new ATM infrastructure during the forecast period.
- Northrop Grumman Corporation
- Honeywell International Inc.
- L3Harris Technologies, Inc
- Raytheon Technologies Corporation
- Frequentis AG
- Advanced Navigation and Positioning Corporation
- Indra Sistemas SA
- Leidos Holdings Inc.
- Thales Group
- Saab AB
Key Market Trends
Modernization of Existing Airport Infrastructure in the Region is Anticipated to Generate Demand for Advanced Air Traffic Management
The aviation authorities in Latin America and North America are emphasizing on the modernization of their airspace management infrastructure and processes, to deal with the anticipated rapid growth in air traffic in the coming years. The FAA is trying to put into effect an ambitious plan to upgrade its air traffic facilities and support its NextGen plan to radically transform the US airspace and render it safer, more efficient, and environmentally responsible.
In January 2020, the FAA selected Raytheon Company to enhance the usability and reduce operational costs for the Standard Terminal Automation Replacement System (STARS) for ensuring the safety of national airspace. Similarly, Argentina's air navigation service provider, EANA is currently enhancing air traffic control (ATC) infrastructure in the country by integrating performance-based navigation (PBN), implementing 100% radar coverage and redesigning the Baires airspace. Such modernization plans of airport infrastructure in the region are expected to propel the segment growth during the forecast period.
North America Accounted for a Major Market Share in 2019
The North America region currently dominates the market and is expected to continue its domination during the forecast period. This is mainly due to robust investments in the expansion and modernization of airports and air traffic management solutions in the airports of the United States and Canada. Federal Aviation Administration (FAA) maintains and modernizes these facilities to ensure that they are consistent with evolving air traffic operational needs and airport expansions in the United States. It mandates dual redundancy of the system, signifying the existence of a fully operational duplicate system that kicks into operation in case of a failure in the primary system.
The air traffic management providers in the region are introducing new technologies to enhance the efficiency of their operations. For instance, in April 2019, Nav Canada awarded a contract to NATS to install an intelligent approach system at Toronto Pearson Airport to help improve flight punctuality. The modernization of airports that have old and aging ATM solutions in the region is anticipated to bolster the growth of the market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 Air Traffic Control
5.1.2 Air Traffic Flow Management
5.1.3 Aeronautical Information Management
5.2.1 North America
18.104.22.168 United States
5.2.2 Latin America
22.214.171.124 Rest of Latin America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/owd3kj