(I-BusinessNews.Com, November 03, 2020 ) 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.
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The COVID-19 outbreak has impacted the air traffic management market adversely due to air travel restrictions on domestic as well as international flights across countries, resulting in the 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.
ÂBased on Airspace, Aeronautical Information Management segment is expected to grow at the highest CAGR in the air traffic management market during the forecast periodÂ
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.
ÂBased on offering, the software and solutions sub-segment of offering is projected to grow at the highest CAGR from 2020 to 2025Â
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.
ÂEurope and Middle East are expected to be the fastest-growing region for air traffic management market during the forecast periodÂ
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. Thus, it is necessary to modernize air transport management systems, which is expected to drive the market during the forecast period. Middle Eastern countries such as the UAE and Saudi Arabia are witnessing significant growth in air passenger traffic as a result of international tourism and increasing immigration in these countries. According to ICAO, there are 13 Flight Information Regions (FIR), and Middle Eastern Air Navigation Service Providers (ANSPs) handle over 1.7 million movements between 15 international airports and 700,000 movements between 45 domestic airports every year. On average, the regionÂs ANSPs handle around 800 flights per day. Increasing air passenger traffic in these countries is expected to drive the ATM market in this region.
Key Market Players
Raytheon Company (US), Indra Sistemas S.A. (Spain), Harris Corporation (US), Thales Group (France), Honeywell International Inc. (US), Northrop Grumman Corporation (US), Advanced Navigation and Positioning Corporation (US), and Saab AB (Sweden) are the key manufacturers of ATM systems in the North American and European regions.
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