Air Traffic Management Market Worth $97.30 Bn by 2022
The report, now available on ASDReports, "Air Traffic Management Market by Domain (ATC, ATFM, AIM), End-Use (Communication, Navigation, Surveillance, Automation & Simulation), Investment Type (Greenfield, Brownfield), Airport Class (A,B,C,D), System & Region - Global Forecast to 2022", The Air Traffic Management (ATM) market is projected to grow from USD 50.01 Billion in 2016 to USD 97.30 Billion by 2022, at a CAGR of 11.73% during the forecast period.
Increase in airspace congestion and collective efforts to reduce fuel emission is anticipated to drive the air traffic management market. In addition, modernization of existing airports and construction of new Greenfield airports is expected to fuel the growth of the air traffic management market.
Air Traffic Management Market - Global Forecast to 2022
Among domains, the Air traffic Control (ATC) segment is projected to lead the air traffic management market during the forecast period
Based on domain, the Air Traffic Control (ATC) segment is expected to account for the largest share of the air traffic management market in 2016. Increasing air traffic and airspace congestion, and need for advanced capabilities of the existing airspace are the major factors contributing to the growth of the ATC segment of the air traffic management market.
Based on end-use, the communication segment of the air traffic management market is projected to grow at the highest CAGR from 2016 to 2022
Based on end-use, the air traffic management market has been segmented into communication, navigation, surveillance, and automation & simulation. The communication segment of the air traffic management market is projected to grow at the highest CAGR during the forecast period. The growth of the communication segment can be attributed to the increasing demand for emerging technologies of datalink communications such as voice recognition control, and digital voice aeronautical telecommunications (ATN) network, among others.
North America is estimated to account for the largest share of the air traffic management market during the forecast period
North America is estimated to lead the air traffic management market during the forecast period, owing to technological advancements in air traffic management systems and various initiatives taken by the FAA (U.S.) and Nav Canada (Canada) to reduce environmental impact of the aviation industry. North America is focusing on the implementation of latest air traffic management technologies to make air travel safer and efficient. These initiatives such as Next Generation Air Transportation System Program (by FAA) and Collaborative Initiatives for Emissions Reductions (By Nav Canada) are expected to lead to modernization of existing airports with latest air traffic management technologies, thus driving the growth of the market in the region.
The Raytheon Company (U.S.), Indra Sistemas S.A. (Spain), Thales Group (France), Harris Corporation (U.S.), Saab AB (Sweden), and Honeywell International (U.S.), among others, are the key players in the air traffic management market.
Source : ASDReports - Market Research - view original press release
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