(Aviation-NewsWire.Com, April 24, 2021 ) The report "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", size 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 increasing investments in airport, increase in the number of airports in Asia Pacific Region, and modernization of air traffic management infrastructure drive the growth of the market. Though the market has witnessed a slow growth in recent years, introduction of unmanned traffic management framework, introduction of remote and digital towers and adoption of satellite based ATC as an opportunity for the market growth up to 2025.
COVID-19 impact on the Air Traffic Management 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, Aeronautical Information Management segment is expected to grow at the highest CAGR in the air traffic management market during the forecast period”
Based on airspace, the aeronautical information management segment is projected to grow at the highest CAGR from 2020 to 2025. The growth of this segment can be attributed as its one of the crucial and important services in ATM as it provides high-quality and reliable electronic information, such as aeronautical, meteorological, airspace, and flow management parameters. The global ATM system foreseen in the operational concept is based on a collaborative decision-making environment in which real-time information and historical data are essential components.
“Based on offering, the software and solutions sub-segment of offering is projected to grow at the highest CAGR from 2020 to 2025”
The growth of this segment can be attributed as 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.
“Europe and Middle East are expected to be the fastest-growing region for air traffic management market during the forecast period”
Europe and Middle East are among the fastest-growing regions for air traffic management market. The growth of the market in Europe is driven by the increase in air travel in the region. BAE Systems PLC (UK) is one of the leading manufacturers of air traffic management based in UK. Europe had a record 11 million flights in 2018, but this was forecasted to increase to 17 million flights a year by 2020 and 20.4 million by 2030. Eurocontrol estimates a 12% shortage in available capacity by 2035.
Key Market Players
Major players operating in the air traffic management market include Thales Group (France), Raytheon Technologies (US), Indra Sistemas S.A. (Spain), and L3Harris Technologies, Inc (US) are some of the key manufacturers and suppliers of the ATM market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: