What is Air Traffic Management Market?
Air traffic management is defined as the aviation term encompassing all systems which assist aircraft in order to depart from transit airspace, an aerodrome, and land at a destination aerodrome. It includes airspace management, air traffic services, and others. It can both manage as well as control the air traffic issues nearby the defense planes and other aircraft. Growing modernization in the developed countries, growing globalization of the businesses, the number of airports are increasing gradually in addition to the requirement for the efficient management of the airports are the foremost factor expected to drive the air traffic management market globally in the future.
The market study is being classified and major geographies with country level break-up.
Thales Group (France), Raytheon Company (United States), Indra Sistemas, S.A. (Spain), Harris Corporation (United States), Northrop Grumman Corporation (United States), Honeywell International, Inc. (United States), BAE Systems PLC (United Kingdom) and Saab AB (Sweden), are some of the key players profiled in the study.
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global air traffic management market can witness an upsurge in the forecast period. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Air Traffic Management market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Air Traffic Management market by Type, Application and Region.
On the basis of geography, the market of Air Traffic Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increase in Investments on Airports
- Increase in the Number of Airports in the Asia Pacific Region
- Modernization of Air Traffic Management Infrastructure
Market Trend
- Technology Advancement of Air Traffic Management
Restraints
- High Cost of ATC Equipment
- Stringent Regulatory Norms
Opportunities
- Need for Unmanned Aircraft System Traffic Management (UTM) and Satellite-Based ATC
Challenges
- Rise in Cyber Threats in Air Traffic Management
- Upgrading Existing Aircraft Fleets to Enable Utilization of the Advancements in Air Traffic Management
- Lack of Skilled Personnel
In February 2019, the United States Air Force has awarded a contract of USD 59 million in order to Northrop Grumman for the development and manufacture of the embedded global positioning system. Therefore, it will, in turn, propel the growth of air traffic management market., In December 2018, the Harris Corporation (United States) Company has received a contract from the United States Army in order to provide wideband satellite communications. Hence, this new product launch will help in strengthening the position of the company in the United States and In October 2018, the Indra Sistemas, S.A. (Spain) has received a contract to provide InNOVA Approach as well as Tower display surveillance data processing system to the Inverness Airport. Therefore, it will help to enhance the growth of the revenue for the company in the future
Key Target Audience
Manufacturers of Air Traffic Management, Suppliers of Air Traffic Management, Wholesalers, Distributors and Retailers of Air Traffic Management, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others