Commercial Air Traffic Management Market Size Will Be US$ 10,279.46 Million, CAGR Of 7.8% Globally By 2030

“Commercial Air Traffic Management Market Analysis to 2030” is a specialized and in-depth study with special focus on analyzing global market trends.

24, 2022 /EINPresswire.com/ – According to Insight Partners’ latest research report on “Commercial Air Traffic Management Market Size, Revenue, Global Analysis, Forecast to 2030”, the market is expected to reach 10% in size ,279.46 million USD by 2030 and to record a compound annual growth rate of 7.8% from 2022 to 2030.
Establishment of new airports across developed and developing countries such as India, China, Singapore, Malaysia, Germany, Netherlands, United Kingdom and United States is another major factor supporting the deployment of air traffic management systems across new airports worldwide. In addition, supportive policies by governments and increased investments by airport authorities in various countries motivate the initiation of new airport construction projects, which include building new ATC towers and deploying air traffic control or management systems across these airports. For example, in 2020, the Civil Aviation Administration of China (CAAC) announced the construction of a new airport across various locations in China. Plans released by the CAAC aim to build 150 new airports by the end of 2035, with an average of 10 airports being built annually. Moreover, the new construction of ATC towers across existing airports is another major factor driving the deployment of new air traffic management systems worldwide.
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Players in the commercial air traffic management market include both hardware manufacturers and software providers, who are dependent on each other. 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, NEC Corp. Air traffic management systems and software. However, system manufacturers and software providers are required to obtain certification for their products from various government bodies such as the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA). Upon approval, manufacturers and software providers begin to manufacture and deliver them to customers.
The commercial air traffic management market size is segmented by type, component, application, airport class, and geography. On the basis of type, the commercial air traffic management market is segmented into air traffic services, air traffic flow management, and airspace management. On the basis of components, the market is segmented into hardware and software. On the basis of application, the market is segmented into communications, navigation, surveillance and traffic control, and others. Based on the airport category, the market is segmented into Category 1, Category 2, Category 3, and Category 4. By geography, the market is mainly segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America.
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End users are the ultimate stakeholders in the global commercial air traffic management market. All commercial airports are end users of the commercial air traffic management market. Growth in the number of new airports worldwide is one of the major factors driving the commercial air traffic management market. In addition, many of the existing airports are upgrading their air traffic management solutions in order to enhance the ability to manage the ever-increasing air traffic. This is also a prominent factor in boosting the commercial air traffic management market.
The main results of the study:
The commercial air traffic management market is divided into five regions – North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and South America (SAM). North America dominated the commercial air traffic management market analysis in 2021 and is expected to continue its dominance throughout the forecast period. North America has the largest fleet of commercial aircraft worldwide, with thousands of daily flights through various airports. This requires continuous air traffic control and management systems to improve traffic management and airport operations efficiency. Airport infrastructure in North America is among the oldest. As a result, the demand for periodic replacement and upgrade of air traffic management systems often increases. The demand to modernize existing air traffic management systems across the region is also driven by the ever-rising passenger air traffic and commercial aircraft operations across various airports in countries such as the United States and Canada. Major players in the Commercial Air Traffic Management Market, such as L3Harris Technologies Inc. and Collins Aerospace, Honeywell International Inc. , is another major factor driving the growth of the commercial air traffic management market in North America.
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The US aviation industry is one of the main countries in the global aviation sector. The country has the largest aircraft fleet serving millions of passengers annually. For example, according to the US Department of Transportation, airlines carried about 674 million passengers across the country in 2021, which is 82% more than the 369 million passengers in 2020. The rise in passenger traffic has led to more planes being purchased across the country. US airlines are generating more requirements for ATM operations. Moreover, the upgrade of existing ATC towers across various US airports and the commissioning of new ATC towers across different airports in the US is stimulating the growth of the commercial air traffic management market across the country.
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