CHICAGO, April 10, 2019
CHICAGO, April 10, 2019 /PRNewswire/ -- According to the new market research report "Air Traffic Management Market by Airspace (Air Traffic Services, Flow Management, Airspace Management, Aeronautical Info Management), Component (Hardware, Software), End Use (Commercial, Tactical), Investment Type, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Air Traffic Management Market is projected to grow from an estimated USD 14.1 billion in 2018 to 18.8 billion by 2025, at a CAGR of 4.20% during the forecast period. Increasing airport investments, and modernization of ATM infrastructure are expected to drive the growth of the market.
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Based on airspace, the Aeronautical Information Management (AIM) segment is projected to grow at the highest CAGR from 2018 to 2025
The growth of this segment can be attributed to the constant need to update real-time aeronautical information for safe, efficient, and economical ATM. AIM's emphasis is on the distribution of updated aeronautical data as well as the digital conversion of data.
Based on component, the software segment is projected to grow at the highest CAGR from 2018 to 2025
Based on component, the software segment is projected to grow at the highest CAGR during the forecast period. Growth of this segment can be attributed to the need to enhance software with regular updates as well as increasing automation, which relies on software algorithms.
Browse in-depth TOC on "Air Traffic Management Market"
101 – Tables
39 – Figures
169 – Pages
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Based on end use, the commercial segment is projected to grow at a higher CAGR from 2018 to 2025
Based on end use, the commercial segment is projected to grow at a higher CAGR during the forecast period. Commercial air traffic has been higher and has greater frequency than tactical air traffic. The extensively used ATM system and timely upgradations of these systems in growing commercial air traffic is the driver in the commercial segment being the fastest-growing.
Based on investment type, the brownfield segment is projected to grow at a higher CAGR from 2018 to 2025
Based on investment type, the brownfield segment is projected to grow at a higher CAGR during the forecast period. Growth of this segment can be attributed to increasing investments in order to modernize existing airports.
Europe is expected to be the fastest-growing ATM market during the forecast period
Europe is expected to be the fastest-growing market during the forecast period. Growth is largely due to increased brownfield airport investments as well as the Single European Sky program, which is expected to bring in modernization into the existing ATM system.
Major players operating in the ATM market include Thales Group (France), Raytheon Company (US), Indra Sistemas, S.A. (Spain), Harris Corporation (US), Northrop Grumman Corporation (US), Honeywell International, Inc. (US), BAE Systems PLC (UK), and Saab AB (Sweden). These players offer various air traffic management solutions covering both, hardware components as well as software services. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia Pacific.
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