Air Traffic Management Market Size Expected to Grow $17.7 Billion by 2031 | Reports by Allied Market Research

OREGAON, PORTLAND, UNITED STATES , June 19, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Air Traffic Management Market," The air traffic management market was valued at $8.8 billion in 2021, and is estimated to reach $17.7 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.

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

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".

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 (𝟐𝟎𝟐𝟑): $9.9 billion
𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 (𝟐𝟎𝟑𝟏): $17.7 billion
𝐂𝐀𝐆𝐑: 7.5% from 2023 to 2031

Increase in air traffic across the world, modernization of air traffic management infrastructure, and greater need for improved air safety drive the growth of the global air traffic management market. However, potential risks associated with cyber threats and high cost of traffic management infrastructure restrict the market growth. Moreover, technological advancements and greater demand for air traffic solutions from emerging nations present new opportunities in the coming years.

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.

Many developing countries have plans to open new airports to facilitate the air transportation within and across the country. For instance, as a part of PM Narendra Modi’s vision, to make India a $5 trillion economy by end of 2025, India is planning to open additional 100 airports by the end of 2024. This will directly create an additional demand for the air traffic management systems, which is expected to boost the growth of the air traffic management market.

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

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.

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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A07104

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

➤ The outbreak of the Covid-19 pandemic had a negative impact on the global air traffic management market, owing to implementation of the global lockdown.
➤ With relaxation of restrictions and reduction in cases in the post-pandemic, there has been increased focus in modern digital ATM solutions to improve efficiency and environmental sustainability in aviation.
➤ In June 2022, the Canadian government announced contribution of up to $39.2 million to enhance safety, & performance of Canada's air transportation system. Canadian government will contribute up to $34.5 million to implement technology to enhance air traffic management. In addition, the Canadian government will also contribute up to $31.2 million to enhance infrastructure & technology at four airports such as Montreal-Trudeau International Airport, Toronto Pearson International Airport, Calgary International Airport, and Vancouver International Airport.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/air-traffic-control-equipment-market - To Reach $11.50 billion, at 4.1% CAGR During 2022-2027

https://www.alliedmarketresearch.com/air-traffic-management-software-market-A09048 - Research Report 2023-2032

https://www.alliedmarketresearch.com/air-traffic-management-hardware-market-A09047 - Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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