The global air traffic management and consulting market is poised to reach USD 16.11 billion by 2028, witnessing a robust CAGR of 4.93% from USD 11.50 billion in 2021. The escalating air traffic worldwide is expected to drive the demand for advanced air traffic management (ATM) solutions, propelling market growth. This data is outlined in the "Air Traffic Management and Consulting Market, 2024-2028" report by Fortune Business Insights™, with the market size reaching USD 11.30 billion in 2020.
The increasing integration of artificial intelligence in air traffic control remote towers, enhancing aircraft operations, stands out as a key trend fueling global market growth in the foreseeable future.
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https://www.fortunebusinessinsights.com/industry-reports/air-traffic-management-market-101813
List of Key Players: Air Traffic Management Market
Thales Group (France)
Raytheon Technologies Corporation (U.S.)
Indra Sistemans SA (Spain)
L3Harris Technologies Inc. (U.S.)
Honeywell International Inc. (U.S.)
BAE Systems PLC (U.K.)
Saab AB (Sweden)
Lockheed Martin Corporation (U.S.)
Capgemini S.E. (France)
Segmentation: Air Traffic Management Market
The Air Traffic Management market is segmented across various parameters to provide a comprehensive understanding of its dynamics. In terms of systems, the segmentation includes Aeronautical Information Management, Airspace Management, Air Traffic Flow Management, and Air Traffic Services. The categorization based on airport type encompasses both International and Domestic airports. Additionally, the market is analyzed by its components, which consist of Services, Software, and Hardware. The segmentation based on end-users includes both Military and Commercial sectors. Geographically, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World. This segmentation strategy enables a detailed and nuanced examination of the diverse aspects and factors influencing the Air Traffic Management market across different regions and industries.
Report Coverage:
Political and economic scenario analysis
Detailed growth potential, demographics, and market capabilities assessment
Current and upcoming investment opportunities analysis
Strategies for future growth
Impact analysis of the COVID-19 pandemic
Drivers and Restraints: The surge in passenger traffic, leading to increased air traffic, is expected to drive the global air traffic management and consulting market. New airport developments, especially in Asia Pacific, are projected to boost market growth, supported by substantial investments in airport infrastructure. However, the high deployment costs associated with these solutions may act as a hindrance to market growth.
Regional Insights: Air Traffic Management Market
North America: Expected to dominate, driven by advanced technology adoption and a significant aviation industry.
Europe: Anticipated second-highest growth with key players such as Saab AB, Thales Group, and BAE System PLC.
Asia Pacific: Highest CAGR forecasted, driven by the need to modernize existing airports and increasing investments in new airport development.
Competitive Landscape: Key players include Northrop Grumman Corporation, Thales Group, Lockheed Martin Corporation, and Honeywell International. Ingenious growth strategies such as long-term contracts, new product launches, strategic acquisitions, and mergers are adopted to accumulate growth and augment revenues.
Key Industry Development: In December 2020, the FAA signed a USD 12 million contract with DIGITALiBiz Inc. for research and development, integration, and other support to develop a new transoceanic air traffic control infrastructure.