+1-888-308-5802     
News Contact Us

4 vital trends fostering air traffic management market development

Author : Rahul Varpe | Published Date : 2021-03-03 

The demand for air traffic management systems will be significantly anchored by the expanding tourism industry across various parts of the world. The hike in the destinations and flight routes offered by airliners has led to a higher preference for these solutions. There is an increasing demand for these systems at airports particularly in North America and Europe considering the robust presence of some of the leading solution providers. 

Besides, systematic air traffic management solutions are witnessing higher adoption to curb the risks incurred during accidents in airports.

A research report compiled by Global Market Insights, Inc., suggests that the global air traffic management market size will register more than USD 10 billion in terms of yearly valuation by 2027.

Scope from hardware components

The demand for hardware components in the air traffic management industry is likely to strike a significant CAGR over the next few years. This is due to the surge in the number of investments driven by governments and airport authorities towards the development of airports.

For instance, BAE Systems, a major air traffic management company, in February 2021, was picked by the U.S. Navy to offer lifecycle, engineering, and sustainment support as well as improved hardware reliability to reinforce the safety of the American warfighters.

Potential of surveillance systems

Annual revenue from the surveillance air traffic management systems will reach a substantial level through 2027 owing to the increasing need to effectively manage traffic at the airports. Taking note of this, several market participants are working on collaborations to install air traffic surveillance software at airports. For instance, the Airport Authority of India, in July 2019, entered a contract with Aireon LLC for the installation of air traffic surveillance systems that spanned over six million square kilometers of the ocean airspaces in Mumbai, Kolkata, and Chennai.

Furthermore, the airport authorities are incorporating new and technologically upgraded solutions to limit traffic congestion and offer hassle-free travel to passengers. Citing an example for the same, NATS set-up an AI-powered digital control tower in January 2019 at the Heathrow Airport to analyze AI’s role in reducing flight delays.

Rising government support in MEA

The Middle East and Africa is an emerging market for air traffic management technology and the region is expected to bring a significant revenue share through 2027. This can be attributed to the strong hike in the amount of airport construction activities across the UAE, Rwanda, Saudi Arabia, and Tanzania.

There are numerous efforts taken up by the governments across the region to upgrade the facilities at the airports for smoother passenger transits. To quote an instance, the Dubai government, in November 2016, disclosed its plans to invest more than USD 3 billion for the expansion of two airports in the country. The projects would be completed by 2025 and once done, will serve up to 146 million passengers per year.

Growth from corporate initiatives

Providers of air traffic management solutions are incorporating inorganic strategies for collaborations and partnerships to enhance their business operations and sustain competition. For instance, Honeywell joined forces with the Airport Authority of India (AAI) in June 2018 to improve the air traffic management system by deploying a new voice recognition software in the country.

Leonardo S.p.A., L3Harris Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, and Thales Group are few other prominent companies.

The ongoing COVID-19 pandemic posed multiple challenges to the industry considering the surge in the number of cases around the world. The formation of various limitations by the governments on domestic and international travel plummeted the revenues for airports in the first two quarters of 2020. However, with the gradual ease in the lockdown policies and travel restrictions, the market share for the air traffic management systems is anticipated to see inclination by late 2021.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

Related News

Furniture Market Outlook | Industry Revenue Analysis By 2026

Published Date: 2021-05-17         Author: Rahul Varpe

The Furniture Market size is expected to exceed more than US$ 750 Billion by 2026; Growing at a CAGR of more than 5.4% in the given forecast period 2020 to 2026. The furniture market is poised to foresee lucrative growth in the years ahead owing to the high product adoption and demand across comm... Read More

4 key trends driving the use of forklifts market through 2027

Published Date: 2021-05-17         Author: Rahul Varpe

It has been revealed that the global forklift market size will reach an annual value beyond USD 90 billion by 2027. The market for forklifts will be significantly bolstered by a consistent requirement for automated machines to replace traditional manual material handling methods. The deployment o... Read More

4 prominent trends driving doors market outlook through 2027

Published Date: 2021-05-17         Author: Rahul Varpe

The global doors market is poised to record commendable gains over the coming years, propelled by an upsurge in the development and deployment of technological innovations by major market players. Considering an instance of technologically advanced products, in March 2021, Masonite International ... Read More

© 2021 Fractovia. All Rights Reserved