Publication Month: Nov 2022 | Report Code: TIPRE00029765 | No. of Pages: 289 | Category: Aerospace and Defense | Status: Published
The global aviation industry is transforming in terms of new and innovative products. The stakeholders across industry verticals are continuously investing in R&D to innovate and develop robust solutions to simplify industrial operations. The growing demand for air traffic management systems compelled the commercial air traffic management market players to invest in developing new and innovative products in recent years. A few of the major product developments are mentioned below:
Such advancements in air traffic management systems and software, supported by high investments from global manufacturers to develop innovative products as per the customer requirements, are speculated to drive the commercial air traffic management market growth.
|Market Size Value in||US$ 5,644.85 Million in 2022|
|Market Size Value by||US$ 10,279.46 Million by 2030|
|Growth rate||CAGR of 7.8% from 2022 to 2030|
|No. of Pages||289|
|No. of Tables||191|
|No. of Charts & Figures||101|
|Historical data available||Yes|
|Segments covered||Type, Component, Application, Airport Class, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Due to the COVID-19 pandemic, the APAC commercial air traffic management market size witnessed a decline in growth during the first half of 2020, hindering the revenue of market players such as NEC Corp and Shoghi Communications Ltd operating in the region. In addition, the lockdown restricted the export of various raw materials procured to develop radars, display systems, and other hardware devices and led to a shortage of workers, which delayed the expansion projects of various airports. For instance, the expansion of Patna Airport was delayed due to the lockdown restriction. However, in Q1 of 2021, the airport expansion activities resumed, which is expected to further propel the demand for ATM systems in the region. For instance, in January 2021, the construction of new airports started in Southeast Asian countries such as Cambodia, Indonesia, Myanmar, the Philippines, and Laos. A few of these airports are New Vientiane International Airport, Laos (expected to complete by 2025), Jewel at Singapore Changi Airport, Singapore (expected to complete by 2024), and Mukdahan airport, Thailand (is expected to start in 2025 and will end in 2027). Thus, the restart of airport construction activities in the region will boost the market growth during the forecast period.
Asia Pacific is expected to be the fastest-growing commercial air traffic management market during the forecast period. The market growth in the region is driven by the presence of new airport construction projects across different countries, including China, India, Indonesia, Vietnam, Malaysia, and Singapore. Several airport authorities in different countries of Asia Pacific have been taking a sheer interest in initiating new airport construction projects across the region. For instance, China and India have already announced the construction of more than 250 airports by the end of 2035. Thus, the rising number of airport construction projects would generate new opportunities for commercial air traffic management market players during the forecast period. Moreover, the rising commercial aircraft fleet across the region is expected to generate the demand for safe air traffic management across countries in Asia Pacific. For instance, according to several industry statistics, the commercial aircraft fleet in Asia Pacific is expected to grow from 7,958 aircraft in 2021 to 14,320 commercial aircraft by 2032. This shows an increase of more than 44% in the region’s commercial aircraft fleet, which is expected to consume a lot of airspace across Asia Pacific in the coming years. For instance, Air Navigation Services Provider (ANWS) of Taipei awarded a contract to Thales Group in February 2022 for modernizing the airport surveillance systems in Taitung, Hualien, and Songshan airports. These factors are expected to contribute to the APAC commercial air traffic management market growth.
Based on component, the commercial air traffic management market is bifurcated into hardware and software. The hardware segment in terms of revenue is expected to continue its dominance in the global commercial air traffic management market size in 2028. The hardware segment of the global commercial air traffic management market includes radar, antennas, display systems, and others. These systems are adopted across commercial airports to constantly collect information and transfer the same to the air traffic control authorities on a real-time basis. Airports across the globe install individual radars, sensors, and display systems for applications such as communication, navigation, surveillance, and traffic control. For instance, in June 2022, Indra announced that it had signed a deal with Airways New Zealand to provide radar to strengthen air traffic security, and reduce CO2 emissions. Under this agreement, Indra will deploy a new Primary Surveillance Radar (PSR3D) and a Secondary Surveillance Radar (MSSR). The company will also build a new radar support tower at Christchurch. Thus, to strengthen air traffic security and obtain accurate and real-time information regarding the flow of aircraft, the demand for hardware components is increasing, leading to the market's growth.
The commercial air traffic management market size is segmented based on type, component, application, airport class, and geography. Based on type, the commercial air traffic management market is segmented into air traffic services, air traffic flow management, and airspace management. Based on component, the market is bifurcated into hardware and software. Based on application, the market is segmented into communication, navigation, surveillance, traffic control, and others. Based on airport class, the market is segmented into class I, class II, class III, and class IV. By geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
Some of the key commercial air traffic management market players operating globally include Thales Group; Indra Systemas; L3 Harris Technologies, Inc.; Leonardo S.p.A; Honeywell International Inc.
Players operating in the commercial air traffic management market are mainly focused on the development of advanced and efficient products.