Air Traffic Management Market Trends 2023- Industry Share-Size, Revenue, Scope, CAGR Status, Business Opportunities and Future Competition Report 2033: SPER Market Research
The term “air traffic management” (ATM) refers to a set of guidelines and procedures used to ensure the effective and secure control of international air traffic. The smooth movement of aircraft from their point of departure to their intended arrival destination is its main goal. Implementing various protocols, instruments, and laws helps to achieve this goal. Maintaining aircraft separation, avoiding collisions, and maximising the use of resources at airports and in the air are the main goals of ATM. By working towards these objectives, ATM improves aviation safety and operational effectiveness.
According to SPER market research, ‘Air Traffic Management Market Size- By Domain, By Component, By Application, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Air Traffic Management Market is predicted to reach USD 20.54 billion by 2033 with a CAGR of 7.72%.
The market for air traffic management is experiencing significant growth opportunities in developing nations like Southeast Asian nations, China, and India. Advanced air traffic management systems must be put in place because of the rapid urbanisation, economic growth, and increase in demand for air travel in these areas. The importance of group decision-making processes is rising concurrently within the sector. With this strategy, various parties collaborate to improve air traffic flow. The market is growing as a result of the increasing demand for cutting-edge air traffic management systems and technologies to support this collaborative approach.
However, among the various obstacles faced by the market, one of the major obstacle is achieving global harmony of air traffic management across national boundaries. It is challenging to establish uniform regulations, standards, and procedures due to differences in national interests, priorities, and regulatory frameworks. Additionally, there is growing pressure on the aviation sector to lessen its environmental impact. Air traffic management systems must put into place measures aimed at minimising fuel consumption, mitigating emissions, and reducing noise pollution in order to balance environmental concerns with operational efficiency. The challenging task of coordinating environmental objectives with effective air traffic management adds yet another level of complexity to the overall situation.
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Impact of COVID-19 on Global Air Traffic Management Market
The pandemic had an impact on the workforce in air traffic management. Numerous air traffic controllers and other employees were afflicted by COVID-19 infections, necessitating quarantine measures, which reduced the number of staff members. The pressure on the remaining workforce increased as a result, requiring the creation of backup plans. Health and safety measures were also implemented within air traffic management systems to lessen the spread of COVID-19. These measures included the introduction of remote working options for air traffic controllers whenever practical, the adoption of social distance protocols, and the improvement of cleaning and sanitization practises.
Air Traffic Management Market Key Players:
North America dominates the air traffic management market and has a bright future ahead of it thanks to sectors like the auto industry, off-grid power, and emergency power. Asia-Pacific, especially India, China, and Japan, holds significant potential for the growth of air traffic management due to its developing economies and significant demand in the automotive and emergency power sectors. Additionally, some of the market key players are Adacel Technologies Limited, Advanced Navigation and Positioning Corporation, Airbus SE, Honeywell International Inc., Indra Sistemas S.A., L3Harris Technologies Inc., Leidos, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation.
Air Traffic Management Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Domain: Based on the Domain, Global Air Traffic Management Market is segmented as; Aeronautical Information Management, Air Traffic Control, Air Traffic Flow Management
By Component: Based on the Component, Global Air Traffic Management Market is segmented as; Hardware, Software.
By Application: Based on the Application, Global Air Traffic Management Market is segmented as; Automation, Communication, Navigation, Surveillance.
By End User: Based on the End User, Global Air Traffic Management Market is segmented as; Commercial, Military.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Air Traffic Management Market Future Opportunity
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