The key players in the global air traffic management market are Frequentis Comsoft GmbH (Germany), BAE Systems (UK), Saab AB (Sweden), Honeywell International Inc. (US), Northrop Grumman Corporation (US), Harris Corporation (US), Indra Sistemas, SA (Spain), Raytheon Company (US), Thales Group (France), and ANPC (US).
The global air traffic management market has been segmented based on type, component, airport type, system, and region. By platform, the global air traffic management market has been segmented into air traffic control, air traffic flow management, and aeronautical information management. The air traffic control segment is expected to account for the largest market share while the air traffic flow management segment is projected to register the highest CAGR during the forecast period. A focus on implementing new ATC systems to cater to the ever-increasing air traffic and airspace congestion is driving the growth of the air traffic control segment market.
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The global air traffic management market has been segmented, based on region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
The market in North America is estimated to be the largest during the forecast period. The implementation of the latest ATM technologies to make air travel safer and efficient is driving market growth in the region. Initiatives such as the Next Generation Air Transportation System Program by the US FAA and Collaborative Initiatives for Emissions Reductions by Nav Canada are expected to lead to the modernization of airports with advanced ATM technologies, thereby driving the growth of the market in North America.
Increasing airspace congestion and the subsequent demand for reliable air traffic infrastructure and the modernization of airports are the key factors driving the growth of the air traffic management market. Furthermore, the focus on commercializing unmanned aerial vehicles (UAVs), vertical take-off and landing aircraft, and hybrid aircraft necessitates new ATM infrastructure. However, a lack of skilled workforce to operate modern ATC systems and rising cyber threats are expected to hinder market growth during the forecast period.
A focus on the modernization of airports in developing countries is primarily driving the growth of the market. Increased air traffic congestion and the development of new airports to cater to the rising number of air travelers are also contributing to market growth. However, a lack of a skilled workforce is a key restraint for market growth.
ATM systems are used to direct aircraft to land at specific places, maintain optimal height during travel, and ensure passenger safety. They include communication, navigation, surveillance, and automation and simulation systems.
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