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

Rising percentage of population preferring airways for business & personal travels, and growing focus on offering quality customer service through innovative products are stimulating the growth of Europe air traffic management market.
 

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Furthermore, increasing efforts towards bringing technological advancements in systems that control the flow of airplanes is creating a favorable market outlook. Air traffic management has also gained prime importance among several airline owners, due to rising emphasis on passenger safety and prevention of air crash incidents.
 

Elaborating on the effect of the COVID-19 pandemic, strict nationwide lockdowns and border closures across Europe have taken a heavy toll on domestic as well as international travel. These aspects significantly impacted the progress of the industry, primarily due to the loss of revenue which could have been invested in creating advanced technologies to manage air traffic effectively. However, European nations are re-starting domestic and international travels which will increase air traffic exponentially in the coming years, thus reviving the industry growth.
 

Considering system type, Europe air traffic management industry is arrayed into airspace management, air traffic control, air traffic flow management, and aeronautical information management. Airspace management segment is expected to expand significantly through 2027, owing to increasing demand and adoption of these software for efficient air traffic management.
 

Based on component type, the market is classified into hardware, communication, software, navigation, and surveillance. The hardware segment is touted to expand at a rapid rate over the assessment period owing to rise in demand for collecting real-time data about movement of flights from airports.
 

Prominent players in Europe air traffic management marketplace are NATS Holdings, Thales S.A., SkySoft-ATM, Serco Group plc, Raytheon Technologies Corp., Searidge Technologies, Saipher ATC, Kongsberg Gruppen ASA, Saab AB, Leonardo S.p.A., Northrop Grumman Corp., NAV Canada, Lockheed Martin Corp., L3Harris Technologies Inc., Intelcan Technosystems Inc., Indra Sistemas S.A., and Honeywell International Inc. among others.