Growth in the North America air traffic management market can be credited to the revamping, construction and expansion of U.S airports
— Global Market Insights Inc. announces an ongoing comprehensive report on the Air Traffic Management Market. This report provides an exhaustive account of the industry including:
• Air traffic management industry size, historical from 2014 to 2018 and annual forecast from 20xx to 20xx
• Major air traffic management industry trends, technology evolution, economic indicators and business challenges
• Regulatory and geopolitical trends impacting the industry
• Business drivers and pitfalls impacting key regional markets
• Competitive landscape of the industry and detailed profiles on the major companies
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The growing number of airports and burgeoning air commuter traffic are encouraging authorities to implement better air traffic management methods across the world. Numbers by International Air Transport Association suggests that passenger population could double to 8.2 billion by 2037. These trends will drive product demand, thereby augmenting the global air traffic management market.
The report projects hardware segment to attain substantial market share in the coming years due to factors like the construction of new airports or renovations of existing ones. According to Airport Construction Council, a minimum of $70 billion is being spent over a period of five years, starting from 2017 to modernize 50 medium and large airports in the US. The necessity for air traffic management hardware across new and upgraded airports will boost hardware-based air traffic management market growth.
Growth in the North America air traffic management market can be credited to the revamping, construction and expansion of U.S airports. Case in point – the San Francisco International Airport’s brand-new Harvey Milk Terminal worth $2.4 billion.
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The Asia Pacific region is anticipated to emerge a one of the most lucrative regional contributors of air traffic management market. The region has observed tremendous growth in passenger population generating a huge requirement for the introduction of new routes, new fleets and airport infrastructure. For instance, India recently commenced the construction of a new terminal at the Kempegowda International Airport in Bangalore. Construction of new airports across its emerging nations is one of the many reasons driving the Asia Pacific air traffic management industry.
The rising significance attributed to air traffic management is China is also driving APAC industry share. In the years to come, China’s aviation market is likely to witness strong gains, while its commercial aircraft fleet expands and the number of airports increase. In order to efficiently manage proliferating air traffic, China’s CAAC Thirteenth Five-Year Development Program demands that the regional air traffic management system moves ahead with the deployment of the Performance-based Organization Strategy (PBOS) and the Strategy for Modernizing Air Traffic Management (CAAMS).
The competitive landscape of the global air traffic management market comprises of well-known players including Harris Corporation, ADACEL, Inmarsat Aviation, Indra Sistemas, Frequentis, NATS, Park Air Systems, and Northrop Grumman.
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