Global Air Traffic Management Market (2020 to 2025) - Satellite-Based ATC Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Air Traffic Management Market by Airspace (Air Traffic Services, Flow Management, Airspace Management, Aeronautical Info Management), Offering, Application, Services, End Use, Investment Type, Airport type and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

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.

Market Dynamics

Drivers

• Increase in Investments on Airports
• Increase in the Number of Airports in the Asia-Pacific Region
• Modernization of Air Traffic Management Infrastructure
• Need for Better Airspace Management

Restraints

• High Costs Associated with Air Traffic Management Equipment
• Stringent Regulatory Norms

Opportunities

• Introduction of Unmanned Traffic Management Framework to Manage UAVs
• Development of Remote and Digital Towers
• Satellite-Based Atc

Challenges

• Rise in Cyber Threats in Air Traffic Management
• Lack of Skilled Personnel
• Upgrading Existing Aircraft Fleets to Enable Utilization of the Advancements in Air Traffic Management
• Economic Challenges for Ansps, Airlines, Airports, and Atm System Suppliers Due to COVID-19

Companies Profiled

• Raytheon Technologies
• Indra Sistemas, S.A.
• L3Harris Technologies, Inc
• Thales Group
• Northrop Grumman Corporation
• Honeywell International, Inc.
• Saab Ab
• BAE Systems plc.
• Frequentis Ag
• Advanced Navigation and Positioning
• Lockheed Martin Corporation
• Intelcan Technosystems Inc.
• Searidge Technologies
• Altys Technologies
• Saipher Atc
• Leidos
• Cyrrus Limited
• Adacel Technologies Limited
• Leonardo S.P.A
• Acams Airport Tower Solutions
• Nav Canada
• Skysoft-Atm
• Artisys S.R.O
• Aquila Air Traffic Management Services Limited
• Sita Group

For more information about this report visit https://www.researchandmarkets.com/r/xwy7nv