Market Highlights
ATM systems are used to direct aircraft to land at specific places, maintain optimal height during travel, and ensure passenger safety. They include communication, navigation, surveillance, and automation and simulation systems.
A focus on the modernization of airports in developing countries is primarily driving the growth of the market. Increased air traffic congestion and the development of new airports to cater to the rising number of air travelers are also contributing to market growth. However, a lack of a skilled workforce is a key restraint for market growth.
The global air traffic management market has been segmented, based on region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
The market in North America is estimated to be the largest during the forecast period. The implementation of the latest ATM technologies to make air travel safer and efficient is driving market growth in the region. Initiatives such as the Next Generation Air Transportation System Program by the US FAA and Collaborative Initiatives for Emissions Reductions by Nav Canada are expected to lead to the modernization of airports with advanced ATM technologies, thereby driving the growth of the market in North America.
The market in Asia-Pacific is projected to be the fastest-growing during the forecast period due to the modernization of airports in the region. Additionally, the development of new airports and a growing number of air passengers will positively impact market growth. The leading country-level markets are China and India.
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Key Players
The key players in the global air traffic management market are Frequentis Comsoft GmbH (Germany), BAE Systems (UK), Saab AB (Sweden), Honeywell International Inc. (US), Northrop Grumman Corporation (US), Harris Corporation (US), Indra Sistemas, SA (Spain), Raytheon Company (US), Thales Group (France), and ANPC (US)