Air Traffic Management Market to Witness the Highest Growth in Asia Pacific Region

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Air Traffic Management Market to Witness
the Highest Growth in Asia Pacific Region The
report "Air Traffic Management Market by Airspace
(Air Traffic Services, Flow Management, Airspace
Management, Aeronautical Info Management),
Offering, Application, Services, End Use,
Investment Type, Airport type and Region - Global
Forecast to 2025", published by
MarketsandMarkets, size is projected to grow
from an estimated USD 9.7 billion in 2020 to USD
17.6 billion by 2025, at a CAGR of 12.6 during
the forecast period. The increasing investments
in airport, increase in the number of airports in
Asia Pacific Region, and modernization of air
traffic management infrastructure drive the
growth of the market. Though the market has
witnessed a slow growth in recent years,
introduction of unmanned traffic management
framework, introduction of remote and digital
towers and adoption of satellite based ATC as an
opportunity for the market growth up to
2025. Download PDF Brochure _at_ https//www.marketsa
ndmarkets.com/pdfdownloadNew.asp?id160955838 The
COVID-19 outbreak has impacted the air traffic
management market adversely due to air travel
restrictions on domestic as well as
international flights across countries,
resulting in the resulting in the sudden decrease
in the air traffic. This is expected to
negatively impact the air traffic management
market in the short term slow recovery is
expected in Q1 of 2021. The aviation industry
could take 2-3 years to recover from the
financial effects of COVID-19, leading to
lower air travels and passenger traffic
compared to previous estimates. "Based on
Airspace, Aeronautical Information Management
segment is expected to grow at the highest CAGR
in the air traffic management market during the
forecast period" Based on airspace, the
aeronautical information management segment is
projected to grow at the highest CAGR from 2020
to 2025. The growth of this segment can be
attributed as its one of the crucial and
important services in ATM as it provides high-
quality and reliable electronic information,
such as aeronautical, meteorological,
airspace, and flow management parameters. The
global ATM system foreseen in the operational
concept is based on a collaborative
decision-making environment in which real-time
information and historical data are essential
components. "Based on offering, the software
and solutions sub-segment of offering is
projected to grow at the highest CAGR from 2020
to 2025" The growth of this segment can be
attributed as software is an essential component
of ATM as it is responsible for processing all
the data and information collected and
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exchanged between various hardware described
above. It also helps in automating some of the
ATM procedures. Browse in-depth TOC on "Air
Traffic Management Market" 527 Tables 55-
Figures 378 Pages "Europe and Middle East are
expected to be the fastest-growing region for air
traffic management market during the forecast
period" Europe and Middle East are among
the fastest-growing regions for air traffic
management market. The growth of the market in
Europe is driven by the increase in air travel in
the region. BAE Systems PLC (UK) is one of the
leading manufacturers of air traffic management
based in UK. Europe had a record 11 million
flights in 2018, but this was forecasted to
increase to 17 million flights a year by 2020 and
20.4 million by 2030. Eurocontrol estimates a 12
shortage in available capacity by 2035. Thus, it
is necessary to modernize air transport
management systems, which is expected to drive
the market during the forecast period. Middle
Eastern countries such as the UAE and Saudi
Arabia are witnessing significant growth in air
passenger traffic as a result of
international tourism and increasing
immigration in these countries. According to
ICAO, there are 13 Flight Information Regions
(FIR), and Middle Eastern Air Navigation
Service Providers (ANSPs) handle over 1.7
million movements between 15 international
airports and 700,000 movements between 45
domestic airports every year. On average, the
region's ANSPs handle around 800 flights per day.
Increasing air passenger traffic in these
countries is expected to drive the ATM market in
this region. Key Market Players Raytheon Company
(US), Indra Sistemas S.A. (Spain), Harris
Corporation (US), Thales Group (France),
Honeywell International Inc. (US), Northrop
Grumman Corporation (US), Advanced Navigation and
Positioning Corporation (US), and Saab AB
(Sweden) are the key manufacturers of ATM systems
in the North American and European regions.
These companies have well-equipped
manufacturing facilities as well as strong
distribution networks across the North American,
European, Asia Pacific, Middle East, Latin
America and Africa region. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id160955838
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