According to the research report titled ‘Asia Pacific Air Traffic Management Market Forecast 2027 By Component, By System, Research Report, Regional Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific air traffic management market is poised to witness a healthy CAGR over the forecast period 2021-2027.
 

As per the report findings, factors such as growing number of air passengers, and rise in per-capita income of the regional population are the primary factors propelling Asia Pacific air traffic management market growth. Notably, the International Air Transport Association (IATA) estimated that the number of worldwide passengers choosing air travel will reach nearly 8.2 billion by 2037, with Asia Pacific driving nearly half of the total traffic.
 

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Moreover, rise in number of low-cost air carriers, increasing investments in development of advanced technology, and ongoing upgrades aimed at enhancing overall flight experience are also boosting the market development.
 

Speaking of the impact of COVID-19 pandemic, stringent lockdowns and movement restrictions imposed to curb the spread of the virus caused heavy setback to the industry progression over the past year. However, the aviation sector is slowly picking up pace as the pandemic subsides, thus reviving the overall market remuneration.
 

Based on system type, Asia Pacific air traffic management market is categorized into air traffic control, air space management, air traffic flow management, and aeronautical information management.
 

By component type, the industry classification comprises communication, hardware, navigation, surveillance, and software segments. Air surveillance system segment is poised to record notable gains through 2027, because of rising need for efficient airport traffic management in the region.
 

Considering the competitive landscape, companies such as Thales S.A., SkySoft-ATM, Serco Group plc, Searidge Technologies, Saipher ATC, Kongsberg Gruppen ASA, Saab AB, Leonardo S.p.A., Raytheon Technologies Corp., Northrop Grumman Corp., NAV Canada, NATS Holdings, Lockheed Martin Corp., L3Harris Technologies Inc., Indra Sistemas S.A., Intelcan Technosystems Inc., and Honeywell International Inc. among others are influencing Asia Pacific air traffic management industry trends.