The global air traffic management market size was valued at USD 8.84 billion in 2020 and is estimated to surpass USD 16.5 billion by 2028, expanding at a CAGR of 10.3% during the forecast period, 2021–2028. The growth of the market is attributed to the rapid growth of number of airports in emerging economic regions world-wide and increasing investments in airport infrastructure.
Air traffic management can be defined as an aviation term consisting of all the systems which assist aircrafts to safely depart from an aerodrome, transit airspace assistance, and landing at the destination airport. It is an integrated management system which includes air traffic control (ATC), air traffic services (ATS), airspace management (ASM), and air traffic flow and capacity management (ATFCM). Air traffic management is an essential aspect of air travel whose role is to ensure the safety, efficiency, and economic operational costs by providing facilities and seamless services in association with all parties involved in airborne and ground-based functions.
The report on the global air traffic management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Air Traffic Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Airspace (Air Traffic Services, Flow Management, Airspace Management, and Aeronautical Information Management), Offerings (Hardware, Software & Solutions, and Services), Airport Size (Large, Medium, and Small), and Sectors (Commercial, and Military & Defense) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Lockheed Martin Corporation, Raytheon Company, BAE Systems, Thales Group, Northrop Grumman Corporation, and Honeywell International |
Based on airspace, the air traffic management system is segmented into air traffic services, flow management, airspace management, and aeronautical information management. The aeronautical information management segment is estimated to expand at a considerable CAGR during the forecast period owing to it being one of the essential and crucial services in air traffic management as it provides reliable and high-quality electronic information, such as meteorological, airspace, aeronautical, and flow management parameters.
However, air traffic services segmented is expected to grow at a healthy CAGR during the forecast period due to increasing airspace congestion and dire need to reduce flight delays during an irregular weather situation.
In terms of offerings, the air traffic management market is segregated into hardware, software & solutions, and services. The software & solutions segment is anticipated to grow at a substantial CAGR during the forecast period. The segment growth is attributed to technological advancements and increasing new innovations in air traffic management solutions. Market players are focusing on offering new innovative software & solutions to improve efficiency and allow smooth operations of the airlines.
On the other hand, the hardware segment is expected to expand at a healthy pace in the coming years owing to rapid growth in number of airports and increasing construction activities to build new facilities and expand existing ones. Several airports around the globe are replacing their age-old hardware with new state of the art equipment which is expected to propel the market growth during the forecast period.
On the basis of airport size, the air traffic management system is segmented into large, medium, and small airports. The large airport segment is estimated to account for key market share during the forecast period owing to increasing workloads and rising air travel as well as air cargo shipments over the past few years. Large airports handle commercial, military, and cargo flights which puts the airport capacities at maximum. To tackle this, large airports need an efficient and optimum air traffic management system which would help run the facilities smoothly to avoid any delays.
Based on sectors, the air traffic management system is divided commercial, and military & defense. The commercial segment is projected to account for large market share due increasing trade via air cargo and growing demand for air travel in various emerging economies world-wide.
Airspace
Offerings
Airport Size
Sectors
Key Players
Honeywell International
Key players competing in the air traffic management market include Lockheed Martin Corporation, Raytheon Company, BAE Systems, Thales Group, Northrop Grumman Corporation, and Honeywell International.
Airspace
Offerings
Airport Size
Sectors
Key Players
Honeywell International
Key players competing in the air traffic management market include Lockheed Martin Corporation, Raytheon Company, BAE Systems, Thales Group, Northrop Grumman Corporation, and Honeywell International.
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