OREGAON, PORTLAND, UNITED STATES , May 21, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Air Traffic Management Market by System (Air Traffic Services, Air Traffic Flow Management, Others), by Application (Communication, Navigation, Surveillance, Automation and Simulation), by Offering (Hardware, Software and Services), by End Use (Commercial, Military, Others): 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 anticipated to generate $17.7 billion by 2031, witnessing a CAGR of 7.5% from 2022 to 2031.

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

Rise in demand of for aircrafts by developing countries is expected to offer remunerative opportunities for air traffic management market expansion during the forecast period. Furthermore, in November 2021, Boeing and SNV Aviation brand Akasa Air announced that a new Indian airline has ordered a (72) 737 MAX aircraft to expand its fleet. The list price of this order is approximately $9 billion, an important test of the 737 family's ability to serve the fast-growing Indian market. Thus, the rising investment by emerging countries and increasing air passenger traffic is expected to open new avenues for business in the developing nations such as India, China, and Brazil.

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.

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.

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

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.

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for around one-third of the global air traffic management market, and is likely 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, owing to factors such as rise in passenger traffic, and construction of new airports. Other regions discussed in the report include North America, Europe, and LAMEA.

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.

The military sectors utilize air traffic management systems on a large scale primarily for communication, surveillance, and reconnaissance. Increase in security concern has led the military sector to become a prominent buyer for air traffic management solutions all across the globe. These solutions aids the military aircrafts to perform several important missions such as search & rescue, monitoring of border areas, and others, effectively and efficiently.

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

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By system, the others segment is anticipated to exhibit significant growth in the near future.
By application, the automation and simulation segment is anticipated to exhibit significant growth in the near future.
By offering, the software and services segment is anticipated to exhibit significant growth in the near future.
By end use, the commercial segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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-hardware-market-A09047 - Global Opportunity Analysis and Industry Forecast, 2023-2032

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

David Correa
Allied Market Research
+18007925285 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other