Air Traffic Management Market worth USD 8.8 billion to USD 17.7 Billion by 2031 Globally | says Allied Market Research

WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 18, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Air Traffic Management Market,” The air traffic management market was valued at $8.8 billion in 2021, and is estimated to reach $17.7 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/A07104

Asia-Pacific dominated the global air traffic management market in 2021. In Asia-Pacific, several initiatives by the governments in several countries to develop air traffic management systems, fuels the growth of the market. For instance, in 2022, in India, Airport Authority of India (AAI) has entered into an agreement with Navratna Defence PSU Bharat Electronics Limited (BEL), under its R & D initiative, for the joint development of systems for air traffic management and surface movement of aircrafts at airports across India.

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

Increase in air traffic across the world, modernization of air traffic management infrastructure, and greater need for improved air safety drive the growth of the global air traffic management market. However, potential risks associated with cyber threats and high cost of traffic management infrastructure restrict the market growth. Moreover, technological advancements and greater demand for air traffic solutions from emerging nations present new opportunities in the coming years.

𝐓𝐡𝐞 𝐚𝐢𝐫 𝐭𝐫𝐚𝐟𝐟𝐢𝐜 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on system, the air traffic services segment held the highest market share in 2021, accounting for more than two-thirds of the global air traffic management market, and is estimated to maintain its leadership status throughout the forecast period. Air traffic services are utilized to efficiently regulate the flow of aircrafts in real-time to ensure their safe operations, which drives the segment. The report also discusses segments including air traffic flow management, and others.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/air-traffic-management-market/purchase-options

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on application, the communication segment held the highest market share in 2021, accounting for around two-fifths of the global air traffic management market, and is estimated to maintain its leadership status throughout the forecast period. Numerous countries across the globe are focusing on improving communication systems of the airports in their region to enhance airport operations, which fuels the growth of the segment. However, the automation and simulation segment is projected to manifest the highest CAGR of 9.5% from 2022 to 2031. It is because several companies provide numerous types of air traffic control (ATC) simulation and training systems for training purposes.

𝐓𝐡𝐞 𝐡𝐚𝐫𝐝𝐰𝐚𝐫𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on distribution channel, the hardware segment accounted for the largest share in 2021, contributing to more than two-thirds of the global air traffic management market, and is projected to maintain its lead position during the forecast period. This is owing to wide usage of hardware components such as secondary surveillance radar (SSR), display systems, primary surveillance radar (PSR), control tower simulator (CTS), radio modems & transceivers, meteorological sensors, flight data information display equipment, holographic radar, surface movement radar, and others. However, the software & services segment is expected to portray the largest CAGR of 10.8% from 2022 to 2031. Numerous companies operating in air traffic management market are receiving contracts to develop software which can implement air traffic management system concepts. This factor boosts the growth of this segment.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: –

Indra Sistemas, S.A.

Saab AB

Thales

Honeywell International Inc.

Raytheon Technologies Corporation,

Lockheed Martin Corporation

Northrop Grumman Corporation

Advanced Navigation and Positioning Corporation

BAE Systems plc

L3Harris Technologies, Inc.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/A07104

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/air-traffic-control-equipment-market – Global Opportunity Analysis and Industry Forecast, 2020-2027

https://www.alliedmarketresearch.com/air-traffic-management-software-market-A09048 – Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/air-traffic-management-hardware-market-A09047 – Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
+1 800-792-5285
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