3 key trends fostering air traffic management market share over 2019-2025
Improving global economy and rising passenger traffic will foster air traffic management market size over the analysis timeframe. Increase in the number of passengers has been boosting the air traffic in Asia Pacific which has resulted in new airport developments to cater to the passengers across countries like China and India .For example, India had made an investment for two airports in Ahmedabad and Rajkot in 2019. China has reportedly invested in six new airports which have been predicted to be completed by 2020.
Key players that operate within the market’s competitive outlook include Thales Group, Raytheon, Northrop Grumman Corporation, Harris Corporation and Saab AB that bolster their capabilities in research and development to create innovative solutions by incorporating advanced technologies.
For instance, Park Air Systems which is a subsidiary to Northrop Grumman in the U.K., reportedly deployed Sapphire ATM Communication System to four of the remote stations in Poland. The four new systems have been delivered to the Polish Air Navigation Service Agency and will be serving the Warsaw Fredric Chopin Airport.
Described below are the few trends that will fuel air traffic management industry share over the coming years:
- Establishing key regulatory bodies
Major regulatory bodies like the U.S. Federal Aviation Administration (FAA) have been administrating the operations of air traffic management all across the region. These authorities have primarily been aiming to provide the customers with enhanced air traffic management facilities on account of the increasing passenger demand.
The airports are focused on providing services pertaining to advanced air traffic control and upgrading the preexisting systems, bolstering air traffic management market forecast.
Booming freight transportation, corporate travel and tourism owing to expanding globalization has increased the frequency of flights and has created a substantial requirement for efficient air traffic management systems.
Pertaining to these drivers, EU had introduced single European sky in the year 2014. The goal of SES is the defragmentation of the European airspace and improve air traffic management standards, thus spurring industry growth.
- Increased focus on safety of passengers
Air traffic control systems offer vital services in airports that involve instructions provided for aircraft on the ground including during clearing aircraft takeoffs and landing. Chief functions of the systems include the prevention of aircraft collision with equipment and other aircraft while maneuvering, both in the air and ground.
Air traffic management industry size from air traffic control segment is anticipated to record gains of over 3% up to 2025.
The segment will be considerably driven by rising applications of 4D trajectory prediction systems, artificial intelligence and increasing adoption of other new technologies that help with the constant upgrade of air traffic control systems.
- Rising air traffic and cargo movements in Asia Pacific
In terms of geographical expansion, Asia Pacific is projected to hold significant share of the global air traffic management market size due to the growing number of investments for new airports in several countries such as India, China, Indonesia, and Vietnam.
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Emerging economies across the region have resulted in booming cargo movement and passenger traffic across the region. Leading aircraft manufacturers have substantial backlog of new airplane orders, indicating a vast future potential.
The authorities handling airports have been consistently investing in the development of infrastructure of the existing airports in order to support the rise in rising cargo and passenger movements. This will provide lucrative opportunities air traffic management industry outlook, with considerably increased need for handling large aircrafts.
Author Name : Riya Yadav
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