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Global air traffic management market to reach $17.7 billion by 2031 at 7.5% CAGR: Allied Market Research

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Growth in global air traffic, modernization of air traffic management infrastructure and increased need for enhanced air security are driving the growth of the global air traffic management market.

PORTLAND, Ore., Nov. 25, 2022 /PRNewswire/ — Allied Market Research has released a report titled “Air Traffic Management Market by System (Air Traffic Services, Air Traffic Flow Management, Others), Application (Communications, Navigation).” , Surveillance, Automation, and Simulation), by offering (hardware, software, and services), by end-use (commercial, military, other): Global Opportunity Analysis and Industry Forecast, 2021- 2031″. According to the report, the global air traffic management industry generated $8.8 billion in 2021 and is expected to generate $17.7 billion in 2031, growing at a CAGR of 7.5% from 2022 to 2031.

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important determinants of development

Growth in global air traffic, modernization of air traffic management infrastructure and increased need for enhanced air security are driving the growth of the global air traffic management market. However, the potential risk associated with cyber threats and the high cost of traffic management infrastructure limit market growth. In addition, technological progress and a greater demand for air traffic solutions from emerging countries offer new opportunities in the coming years.

COVID-19 scenario

  • Due to the implementation of the global lockdown, the outbreak of the Covid-19 pandemic had a negative impact on the global air traffic management market.

  • With the easing of restrictions and a reduction in cases following the pandemic, the focus is on modern digital ATM solutions to improve efficiency and environmental sustainability in aviation.

  • In June 2022, the Government of Canada announced a contribution of up to $39.2 million to improve the safety and performance of Canada’s air transportation system. The Government of Canada will contribute up to $34.5 million to implement technology to improve air traffic management. In addition, the Government of Canada will contribute up to $31.2 million to improve infrastructure and technology at four airports, namely Montreal-Trudeau International Airport, Toronto Pearson International Airport, Calgary International Airport and Vancouver International Airport.

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The story continues

air traffic services segment to maintain its leading position during the forecast period

Based on the system, the air traffic services segment accounted for the highest market share in 2021, accounting for more than two-thirds of the global air traffic management market, and is expected to maintain its leading position over the forecast period. Air traffic services are used to efficiently control the flow of aircraft in real time to ensure their safe operation, which this segment exploits. The segments including air traffic flow management and others have also been discussed in the report.

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Communications segment to maintain its leading position during the forecast period

Based on application, the communications segment accounted for the highest market share in 2021, accounting for nearly two-fifths of the global air traffic management market, and is expected to maintain its leading position over the forecast period. Several countries around the world are focusing on improving airport communication systems in their region to improve airport operations, which is driving the growth of the segment. However, the automation and simulation segment is expected to register the highest CAGR of 9.5% from 2022 to 2031. This is because many companies offer a variety of air traffic control (ATC) simulation and training systems for training purposes.

Hardware segment to maintain its leading position during the forecast period

Based on the 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 expected to maintain its leading position during the forecast period. This is due to the extensive use of hardware components such as secondary surveillance radar (SSR), display systems, primary surveillance radar (PSR), control tower simulator (CTS), radio modems and transceivers, meteorological sensors, flight data display devices, holographic. Radar, surface motion radar and others. However, the software and services segment is expected to show the highest CAGR of 10.8% from 2022 to 2031. Several companies operating in the air traffic management market are awarded contracts to develop software that can implement air traffic management system concepts. This factor promotes the growth of this segment.

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Asia Pacific to maintain its dominance until 2031

On the basis of region, Asia Pacific held the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global air traffic management market, and is expected to dominate the market during the forecast period. In addition, the same region is expected to witness the fastest CAGR of 8.5% from 2022 to 2031, due to factors such as increase in passenger traffic and construction of new airports. Other regions covered in the report include North America, Europe and LAMEA.

Leading Market Players:-

  • Indra Sistemas, SA

  • 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.

Get research report – http://bit.ly/3GIhwET

We have similar reports on the aviation industry,

Air Traffic Control Market Size To Reach $11.50 Billion At A CAGR Of 4.1% In 2022-2027

Air Traffic Management Hardware Market Research Report 2022-2030

Air Traffic Management Software Market Research Report 2022-2030

about us

Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as small and medium-sized businesses. AMR takes a focused approach to providing business insights and advice to its clients to help them make strategic business decisions and achieve sustainable growth in their respective market domains.

We have a professional business relationship with several companies and this helps us to excavate market data which helps us to create accurate research data tables and confirm the pinpoint accuracy of our market forecasts. Pawan Kumar, CEO, Allied Market Research, plays an important role in motivating and encouraging everyone involved in the company to maintain high quality data and help customers achieve success in every way possible. All data presented in the report published by us has been extracted through primary interviews with top executives of leading companies in the respective domain. Our secondary data acquisition methodology includes in-depth online and offline research and discussion with expert industry professionals and analysts.

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