May 12, 2021
According to the research report titled ‘Air Traffic Management Market Size By Component (Hardware [Communication, Navigation, Surveillance], Software), By System (Air Traffic Control, Airspace Management, Air Traffic Flow Management, Aeronautical Information Management), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027’, available with Market Study Report, global air traffic management market size is anticipated to expand rapidly over 2021-2027.
Increasing number of air passengers, coupled with government investments in aerospace and aviation verticals are augmenting the growth of global air traffic management market.
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However, emergence of Covid-9 pandemic, and subsequent restrictions on travelling in order to contain the spread of this infection have plunged the number of air passenger, and will continue to do so in near future, thereby hampering the market growth.
As per component terrain, worldwide air traffic management market is segregated into hardware (surveillance, navigation and communication), and software. The report cites that navigation hardware segment is slated to grow modestly over the analysis timeframe, as these systems are employed to guide aircrafts on ground and in air. Emphasis among companies to develop advanced and reliable navigation systems will further aid in segmental growth.
Speaking of system gamut, global air traffic management industry is bifurcated into airspace management, air traffic flow management, aeronautical information management, and air traffic control. As per the report, airspace management system segment is anticipated to display lucrative growth trends over 2021-2027, owing to rising air traffic. Aerospace authorities and governments are prioritizing the airspace management systems to lessen fuel costs, travel time, and flying charges.
From the regional point of view, Asia Pacific air traffic management market is slated to amass notable gains in the ensuing years, owing to escalating government investments for developing airports due to surge of number of air passengers.