Global Air Traffic Management Market Forecast 2023-2032

Global Air Traffic Management Market Forecast 2023-2032KEY FINDINGS

The global air traffic management market is predicted to register a CAGR of 5.57% during the forecast period, 2023-2032. The need for safe & more secure services, the growing number of airports, the emerging advanced technologies and modernization of ATM infrastructure, and the increasing investments due to the growing passenger traffic.

MARKET INSIGHTS

The integrated management of airspace and air traffic, including air traffic flow management, airspace management, and air traffic services, is collectively termed air traffic management. Air travel is the fastest and most comfortable mode of transportation. Accordingly, the growing global population is estimated to increase the need for additional airports to promote air travel.

Similarly, this also raises the need for efficient traffic management. As a result, the increasing number of airports, and the subsequent development of airport infrastructure and the demand for efficient air traffic & security offer growth opportunities. For instance, as per the International Air Transport Association (IATA), the number of flying passengers will double by 2035. In addition, the International Civil Aviation Organization (ICAO) projects a considerable increase in the number of airline passengers to around 10.5 billion by 2040. Such factors are projected to increase the demand for air traffic management systems, thereby driving the global air traffic management market growth. However, the market growth is hampered by stringent airborne equipment standards and inter-jurisdictional issues.

REGIONAL INSIGHTS

The global air traffic management market growth evaluation includes the geographical assessment of North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific is the largest revenue-generating region in the global market, attributed to the rising fleet size.

COMPETITIVE INSIGHTS

The market is dominated by a few players with ongoing contracts to deliver and integrate advanced systems to ensure efficiency in air traffic management. Some of the prominent companies in the market include BAE Systems, Honeywell, L3Harris Technologies, Indra Sistemas SA, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments