Market Research Report
Air Traffic Management Market Size By Component, By System, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Published by||Global Market Insights Inc.||Product code||981903|
|Published||Content info||270 Pages
Delivery time: 2-3 business days
|Air Traffic Management Market Size By Component, By System, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
|Published: January 12, 2021||Content info: 270 Pages||
Air Traffic Management Market Size By Component (Hardware [Communication, Navigation, Surveillance], Software), By System (Air Traffic Control, Airspace Management, Air Traffic Flow Management, Aeronautical Information Management), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027.
The global air traffic management market is experiencing rapid expansion and it is expected to show similar trends in the near future. The market growth can be attributed to the monumental rise in the number of air passengers. Robust government investments in the aerospace and aviation sectors are further augmenting this growth.
Based on the component, the industry is bifurcated into hardware and software. The hardware segment includes navigation, communication, and surveillance, among others. The demand for navigation systems is expected to increase substantially over the next few years, due to their prominent role in air traffic management. These systems are used to safely guide aircrafts in the air as well as on the ground.
Leading industry players are constantly focusing on developing new, more advanced and reliable aircraft navigation systems. In September 2020, for instance, Northrop Grumman Corporation had completed the development of an advanced navigation system for U.S. military carriers.
Automated landing is fast becoming a major trend in the future of aviation. Numerous automated navigation and landing systems have been designed in recent years. In July 2019, a team of developers at the Technical University of Munich (TUM), Germany, had developed a vision-assisted navigation system that enables smaller carriers to land without the assistance of ground-based control units.
The different types of air traffic management systems include, airspace management, aeronautical information management, air traffic control, and air traffic flow management systems. The increasing air traffic around the world indicates that airspace management systems will witness a significant demand in the forthcoming years.
Airspace management is a top priority among government and aerospace authorities as the efficient utilization or airspace for civil flights could help reduce fuel expenses, flying costs, as well as travel time. The Indian government, for example, had announced in May 2020 that it will take numerous steps for the efficient management and utilization of airspace for civil aviation and to make the country a major maintenance, repair, and overhaul (MRO) hub.
In terms of the regional outlook, the air traffic management industry in the Asia Pacific is poised to record notable growth in the future. The regional trends can be mainly associated with growing government investments in the development of new airports in response to the rapid increase in the number of air passengers.
The COVID-19 pandemic and the subsequent travel restrictions imposed by respective governments have been a major roadblock for the expansion of the air traffic management market. The prevailing nature of the pandemic along with resurgence of the coronavirus situation in many regions may continue to disrupt the air traffic management market trends in the near future.
Passenger traffic had hit rock bottom and airports had been forced to make difficult operational decisions, including reduction of frontline employees and full or partial closure of runways and terminals.
However, despite these disruptions, the aviation sector in Asia Pacific had shown initial signs of recovery in April 2020, as per Airports Council International (ACI), APAC. However, since the beginning of the pandemic situation, airports had stepped up health and hygiene measures to limit the spread of the virus and protect employees and passengers.
A coordinated approach between governments, health authorities, regulators, and the aviation sector to implement sustainable and effective health measures could enable the complete resumption of flights in the near future, bolstering the regional air traffic management industry outlook.