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.
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.
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.
Please Explore Relevant Reports:
Air Traffic Control Marketby Airspace (ATCSCC, ARTCC, TRACON, ATCT, FSS), Application (Communication, Navigation, Surveillance, Automation), Sector (Commercial, Defense), Investment Type, System, and Region - Global Forecast to 2022
Radar Systems Marketby Technology (CW Radars, Pulsed Radars), Application (Defense, Commercial), Range (Short, Long, Medium), Component (Antenna, Receiver, Transmitter), Frequency Band (L, X, C, S) and Region - Global Forecast to 2021
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.