Global Air Traffic Management Market Is Estimated To Register A CAGR Of Approximately 9% During The Forecast Period Of 2018 To 2023.
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.
According to a study conducted by Eurocontrol, the European organization for the safety of air navigation, the European aviation market is becoming mature and, by 2035, it is expected that the number of flights will increase by 50% as compared to 2012. Congestion is expected to be a major issue and, by 2035, more than 20 airports in the EU would be running at, or close to, full capacity compared to just three in 2012. Hence, to manage the growing passenger traffic, European airports are focusing on modernizing infrastructure. This will directly influence the growth of the global air traffic management market in the region.
In the Middle East & Africa, airports such as the Abu Dhabi International Airport are investing in upgrading ATM capabilities to better serve the increasing number of tourists visiting the country. Similarly, in Latin America, countries such as Brazil and Argentina are constructing new airports to meet the growing passenger traffic. These initiatives will result in market growth in the respective regions.
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