Commercial Air Traffic Management Market Size to hit US$ 10,279.46 Mn, At 7.8% CAGR, Globally, by 2030
The “Commercial Air Traffic Management Market Analysis to 2030” is a specialized and in-depth study with a special focus on the global market trend analysis.
NEW YORK, UNITED STATES, UNITED STATES, November 24, 2022 /EINPresswire.com/ — According to The Insight Partners, Latest research report on “Commercial Air Traffic Management Market Size, Revenue, Global Analysis and Forecast to 2030”, the market size is expected to reach US$ 10,279.46 million by 2030 and register a CAGR of 7.8% from 2022 to 2030.
The construction of new airports across developed and developing nations such as India, China, Singapore, Malaysia, Germany, the Netherlands, the UK, and the US is another major factor supporting the deployment of air traffic management systems across new airports worldwide. In addition, supportive policies by governments and a rise in investments by airport authorities across different countries are catalyzing the initiation of new airport construction projects, which includes the construction of new ATC towers and the deployment of air traffic control or management systems across such airports. For instance, in 2020, the Civil Aviation Administration of China (CAAC) announced new airport construction across different locations in China. The plans released by the CAAC aim to build 150 new airports by the end of 2035, with an average construction of 10 airports per year. Moreover, the new construction of ATC towers across the existing airports is another major factor propelling the deployment of new air traffic management systems worldwide.
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Commercial Air traffic management market players include both hardware manufacturers and software providers, which are dependent on each other. The hardware manufacturers and software providers include Thales SA, BAE Systems Plc, Indra Sistemas SA, L3Harris Technologies Inc, Raytheon Technologies Corp, Honeywell International Inc, Saab AB, SITA SC, and NEC Corp. These market players provide the airport with updated and advanced air traffic management systems and software. However, the system manufacturers and software providers are required to acquire a certification of approval for their products from various governmental authorities such as Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA). Upon approval, the manufacturers and software providers start manufacturing and delivering the same to the customers.
The commercial air traffic management market size is segmented based on type, component, application, airport class, and geography. Based on the type, the commercial air traffic management market is segmented into air traffic services, air traffic flow management, and airspace management. Based on component, the market is bifurcated into hardware and software. Based on application, the market is segmented into communication, navigation, surveillance, traffic control, and others. Based on airport class, the market is segmented into class I, class II, class III, and class IV. By geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
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The end users are the final stakeholders of the global commercial air traffic management market. All the commercial airports are the end users of the commercial air traffic management market. The growth in the number of new airports across the globe is one of the key factors catalyzing the commercial air traffic management market. Also, several existing airports are upgrading their ATM solutions in order to enhance the capability of managing ever-increasing air traffic. This is also a prominent factor bolstering the commercial air traffic management market.
Key Findings of Study:
The commercial air traffic management market is segmented into five regions—North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (SAM). North America dominated the commercial air traffic management market analysis in 2021, and it is expected to continue its dominance throughout the forecast period. North America has the largest commercial aircraft fleet worldwide, with thousands of daily flights across different airports. This requires continuous monitoring and air traffic management systems for better traffic management and efficient airport operations. North America airport infrastructure is among the oldest infrastructures. Due to this, the demand for replacement and periodic upgrades of air traffic management systems is often raised. Also, the demand for upgrading the existing air traffic management systems across the region is driven by its continuously rising air passenger traffic and commercial aircraft operations across different airports in the countries such as the US and Canada. The presence of major commercial air traffic management market players, such as L3Harris Technologies Inc., Collins Aerospace, and Honeywell International Inc., is another major factor catalyzing the commercial air traffic management market growth in North America.
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The US aviation industry is one of the major countries in the global aviation sector. The country has the largest aircraft fleet that caters to millions of passengers per year. For instance, according to the US Department of Transportation, the airways carried ~674 million passengers across the country in 2021, which was 82% more than 369 million passengers in 2020. The rise in passenger traffic is leading to the procurement of a larger number of aircraft across the US carriers and generating more requirements for ATM operations. Moreover, the upgrading of existing ATC towers across different US airports and the commissioning of new ATC towers across different airports in the US is catalyzing the commercial air traffic management market growth across the country.
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