Asia Pacific is projected to hold significant share of the global air traffic management market size due to the growing number of investments for new airports in several countries such as India, China, Indonesia, and Vietnam.
Emerging economies across the region have resulted in booming cargo movement and passenger traffic across the region. Leading aircraft manufacturers have substantial backlog of new airplane orders, indicating a vast future potential.
Improving global economy and rising passenger traffic will foster air traffic management market size over the analysis timeframe. Increase in the number of passengers has been boosting the air traffic in Asia Pacific which has resulted in new airport developments to cater to the passengers across countries like China and India .For example, India had made an investment for two airports in Ahmedabad and Rajkot in 2019. China has reportedly invested in six new airports which have been predicted to be completed by 2020.
Key players that operate within the market’s competitive outlook include Thales Group, Raytheon, Northrop Grumman Corporation, Harris Corporation and Saab AB that bolster their capabilities in research and development to create innovative solutions by incorporating advanced technologies.
For instance, Park Air Systems which is a subsidiary to Northrop Grumman in the U.K., reportedly deployed Sapphire ATM Communication System to four of the remote stations in Poland. The four new systems have been delivered to the Polish Air Navigation Service Agency and will be serving the Warsaw Fredric Chopin Airport.
Major regulatory bodies like the U.S. Federal Aviation Administration (FAA) have been administrating the operations of air traffic management all across the region. These authorities have primarily been aiming to provide the customers with enhanced air traffic management facilities on account of the increasing passenger demand.
The airports are focused on providing services pertaining to advanced air traffic control and upgrading the preexisting systems, bolstering air traffic management market forecast.
Booming freight transportation, corporate travel and tourism owing to expanding globalization has increased the frequency of flights and has created a substantial requirement for efficient air traffic management systems.
Pertaining to these drivers, EU had introduced single European sky in the year 2014. The goal of SES is the defragmentation of the European airspace and improve air traffic management standards, thus spurring industry growth.
The authorities handling airports have been consistently investing in the development of infrastructure of the existing airports in order to support the rise in rising cargo and passenger movements. This will provide lucrative opportunities air traffic management market outlook, with considerably increased need for handling large aircrafts.
Some Points From Table Of Content: –
Chapter 5. Air Traffic Management Market, By Component
5.1. Key trends, Air Traffic Management Industry by component
5.2.1. Market estimates and forecast, 2013-2025
126.96.36.199. Market estimates and forecast, 2013-2025
188.8.131.52. Market estimates and forecast, 2013-2025
184.108.40.206. Market estimates and forecast, 2013-2025
5.3.1. Market estimates and forecast, 2013-2025
Chapter 6. Air Traffic Management Market, By System
6.1. Key trends, Air Traffic Management Market by system
6.2. Air Traffic Control
6.2.1. Market estimates and forecast, 2013-2025
6.3. Airspace Management
6.3.1. Market estimates and forecast, 2013-2025
6.4. Air Traffic Flow Management
6.4.1. Market estimates and forecast, 2013-2025
6.5. Aeronautical Information Management
6.5.1. Market estimates and forecast, 2013-2025