02 August 2023
Visiongain has published a new report: Air Traffic Management Market Report 2023-2033: Forecasts by Offering (Hardware, Software), by Application (Communication, Navigation, Surveillance, Automation), by Service (ATM as a Service, Maintenance, Support), by Airspace (Air Traffic Services, Air Traffic Flow Management, Airspace Management, Aeronautical Information Management) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global air traffic management market is expected to surpass US$11.30 billion in 2022. The market is projected to reach a market value of US$33.87 billion by 2033.
Growing Focus on Improving Air Safety to Drive Air Traffic Management Market
The growing focus on improving air safety is indeed expected to drive the air traffic management (ATM) market. Air safety is a top priority for the aviation industry, and advancements in technology and regulatory measures are being implemented to enhance the safety of air travel. With the steady growth of air travel worldwide, the volume of air traffic has been rising significantly. This surge in air traffic necessitates efficient management systems to ensure safe and organized operations. Air traffic management solutions help optimize airspace capacity, reduce congestion, and improve overall safety.
High Cost Associated with Air Traffic Management Equipment
Developing advanced air traffic management equipment requires significant investments in research and development. The technology involved in managing and monitoring air traffic is complex and continually evolving, requiring ongoing research and innovation. The costs associated with developing and testing new technologies contribute to the overall cost of the equipment. Air traffic management equipment must meet stringent safety and reliability standards to ensure the safe operation of aircraft. These standards require extensive testing, certification, and compliance with regulatory requirements. The cost of designing, manufacturing, and testing equipment to meet these standards adds to its overall expense.
How will this Report Benefit you?
Visiongain’s 278-page report provides 101 tables and 178 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global air traffic managements market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for air traffic managements. Get financial analysis of the overall market and different segments including offering, application, service, airspace, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing air traffic managements market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
Advancement in Unmanned Traffic Management
Unmanned Traffic Management (UTM) has experienced significant advancements in recent years to support the safe integration of unmanned aerial systems (UAS) or drones into the airspace. Many countries have developed or updated their regulatory frameworks to address UAS operations and UTM. These frameworks establish rules and guidelines for UAS operators, define flight restrictions, and specify operational requirements to ensure safety and efficient use of airspace.
Technological Advancement to Open New Avenues for The Industry
Remote Identification is a technology that enables the identification of drones in flight by both authorities and other UAS operators. RID systems use unique identifiers, such as digital license plates or network-based identification, to provide essential information about the drone, such as its location, altitude, and operator's identity. RID helps mitigate security concerns and facilitates compliance with airspace regulations.
Geofencing technology is used to create virtual boundaries around sensitive areas, such as airports, military installations, and populated areas. Drones equipped with geofencing capabilities receive real-time data about restricted zones and are prevented from entering these areas. This technology helps prevent unauthorized flights and enhances safety by keeping drones away from prohibited airspace.
Global air traffic management market is competitive in nature. Large number of well-established and small scale companies are operating in this industry. Some leading companies engaged in this industry are BAE Systems, Honeywell International Inc., L3Harris Technologies, Leidos Holdings, Leonardo, Lockheed Martin Corporation, Northrop Grumman Corp., Raytheon Technologies Corporation, SITA, and Thales. Companies are adopting different strategies such as new sensor technology development, merger & acquisitions, partnership, collaboration, and investment in order to stay competitive in the industry.
• In April 2022, Raytheon launched the first Global Aircrew Strategic Network Terminal system for the U.S. Air Force. The terminal system modernizes existing protected communications systems while adding new capabilities for nuclear and non-nuclear command and control.
Notes for Editors
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