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(MoneyNewsWire.Net, March 11, 2018 ) 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. Increasing demand for safe and reliable air traffic operations, increasing airspace congestion, development of new airport infrastructure, and modernization of existing airports are the key factors driving the growth of the air traffic management (ATM) market. The air traffic management market in India, China, and Japan is expected to witness significant growth during the forecast period.
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Based on domain, the air traffic management (ATM) market has been segmented into Air Traffic Control (ATC), Air Traffic Flow Management (ATFM), and Aeronautical Information Management (AIM). The ATFM segment of the air traffic management (ATM) market is projected to grow at the highest CAGR from 2016 to 2022. Growth in the Air Traffic Flow Management (ATFM) is due to smooth transition of air traffic flow it provides and is a vital part of air traffic management (ATM). ATFM allows a flexible design of airports in an attempt to optimize existing services to enhance capabilities.
Based on end-use, the communication segment is expected to account for the largest share of the air traffic management market during the forecast period. Based on end-use, the air traffic management (ATM) market has been classified into communication, navigation, surveillance, and automation & simulation. Communication is fueling the demand for safe, reliable, and cost effective solutions for air traffic, thereby driving the air traffic management (ATM) market.
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Asia-Pacific is projected to lead the air traffic management (ATM) market from 2016 to 2022, owing to the development of Greenfield airport and modernization of existing airports in the region. Airport modernization programs that include increased procurement of advanced communication, navigation, and surveillance equipment are driving the Asia-Pacific air traffic management (ATM) market.
High equipment cost associated with hardware and software of air traffic management (ATM) systems is expected to restrain the growth of the air traffic management market. Key players in this market are Raytheon Company (U.S.), Indra Sistemas S.A. (Spain), Harris Corporation (U.S.), Thales Group (France), Honeywell International Inc. (U.S.), Northrop Grumman Corporation (U.S.), Advanced Navigation and Positioning Corporation (U.S.), Saab AB (Sweden), and ComSoft GmBH (Germany), among others.
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