The global air traffic management market is projected to grow at a significant CAGR during the forecast period. Air traffic management refers to the systems that assist aircraft from takeoff to landing at a destination airport, including the transit phase. The increased preference of consumers for air travel over other modes of transportation is one of the primary factors driving the market’s growth. The increase in the aviation industry leads to an increase in the number of airports which in turn demands aircraft and hence management options. The International Air Transport Association (IATA) revealed that present trends in air transport suggest passenger numbers could double to 8.2 billion in 2037 which will further drive the market growth.
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Furthermore, the key players of the market include BAE Systems Plc, Honeywell International Inc., Northrop Grumman Corp., Thales Group, L3 Harris Technologies Inc., Raytheon Co., Saab AB, Lockheed Martin Corp., and others. For instance, In January 2020, Raytheon Technologies was selected by the US Federal Aviation Administration to improve the usability and reduce operational costs for the Standard Terminal Automation Replacement System (STARS). STARS is used by air traffic controllers across the US to provide safe and efficient aircraft spacing and sequencing guidance for more than 40,000 departing and arriving aircraft daily at more than 600 civilian and military airports.
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Market Coverage
- Segment Covered-
o By Component
o By System
o By End-User
- Competitive Landscape: BAE Systems Plc, Honeywell International Inc., Northrop Grumman Corp., Thales Group, L3 Harris Technologies Inc. and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Air Traffic Management Market by Segment
By Component
o Hardware
o Software
By System
o Air Traffic Control
o Airspace Management
o Air Traffic Flow Management
o Others
By End-User
o Commercial
o Tactical
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