Air Traffic Management Market projected to reach $17.6 Billion by 2025

 


(I-BusinessNews.Com, September 17, 2020 ) Air traffic management is the integrated management of air traffic and airspace safely, economically, and efficiently, through the provision of facilities and seamless services in collaboration with all parties. This operational concept defines 7 interdependent concept components that will be integrated to form the future ATM system. This comprises airspace organization and management, aerodrome operations, demand and capacity balancing, traffic synchronization, conflict management, airspace user operations, and ATM service delivery management. The primary functions of the air traffic management are to enable flights from and to runways or aerodromes into airspace, safely separated from hazards, within capacity limits, making optimum use of all system resources. The report analyzes the factors that are driving and restraining the growth of the air traffic management markets as well as the challenges faced by this market. It also provides information on the growth opportunities for the market.

The air traffic management market 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 recommencement of global economic growth, an increase in number of passenger traffic, need of airspace management and modernization of air traffic management infrastructure are expected to drive the growth of the market.

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Based on airspace, the Air Traffic Services (ATS) segment is estimated to dominate the air traffic management market in 2020. Increasing air traffic and airspace congestion and the need for advanced capabilities of the existing airspace are major factors that are expected to contribute to the growth of the ATS segment of the market during the forecast period.

Based on the offering, the market has been segmented into hardware and software and solutions. Hardware is also used to provide positioning of aircraft, send alerts & weather data, communicate via voice & text, and facilitate safe landing & take-off, among others. 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.

Based on the application, the market has been segmented into communication, navigation, surveillance and automation. The automation segment accounts for the largest market size during the forecast period. The OEM segment is the fastest-growing market during the forecast period. The automation segment is growing substantially as airports and air traffic controllers are investing in simulators, and increased adoption of remote towers is fuelling the market.

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