Air Traffic Management Market Projected to Reach $17.6 Billion by 2033, Growing at 4.9% CAGR (Computers - Information Technologies)
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Air Traffic Management Market Projected to Reach $17.6 Billion by 2033, Growing at 4.9% CAGR | |
The air traffic management market is projected to develop at a 4.9% CAGR and reach US$ 10,889.2 million by 2023. It is projected that the market will reach US$17,624.5 million by 2033. It is anticipated that as modernization picks up speed and the number of aircraft rises, so too will the use of ATC systems. Furthermore, more individuals will likely require air traffic control throughout the projected time due to an increase in the number of vehicles on the road. Due to a rise in passengers and international tourism, there has been a significant growth in demand for air traffic management systems. The military and defence industries are seeing a growth in the air traffic management market share as a means of monitoring and regulating air traffic problems surrounding defence jets. Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-5719 The industry that offers services and technologies to manage air traffic to ensure the safe and effective operation of airplanes in the airspace is referred to as the “air traffic management market.” Aircraft must be able to navigate through congested airspace and land at airports safely and efficiently, which requires the employment of sophisticated operational procedures and cutting-edge communication, navigation, and surveillance systems. The rising demand for air travel, which is anticipated to continue growing in the upcoming years, especially in emerging nations, is what drives the air traffic management industry. The industry is additionally benefited from the global air traffic control system modernization that is currently underway, with several nations investing in new technologies and infrastructure to enhance safety, efficiency, Players in the air traffic management industry compete on grounds like pricing, performance, dependability, and innovation. The market is also subject to a variety of legal restrictions and guidelines, which may have an impact on how quickly new systems and technologies are adopted and implemented. Recent Developments in the Air Traffic Management Recently, the new 5G air-to-ground is designed to manage air traffic seamlessly at airports. It is a wireless network that provides real-time analytics, boosting aircraft command and transferring data rapidly. Nokia Telecommunication also uses the same technology network at Brussels airport. FAA is adopting TBO (Trajectory Based Operations) which is more flexible, throughput, efficient and predictable. The technology controls air traffic management and helps aircraft movement. Other Key Participants in the Air Traffic Management Market Presagis M3 Systems Saab Croatia Control Avitech Gmbh Click to Buy Your Exclusive Report Immediately! https://www.futuremarketinsights.com/checkout/5719 Global Air Traffic Management Market: Drivers and Restraint The global market demand for the air traffic management market is primarily driven by the factors such as the increasing focus of the airports on the modernization of Air Traffic Management (ATM) infrastructure which was initially used. In addition to this other factors such as the constant increase in the number of airports in emerging economies in developing regions such as India, China, and others are also fueling the global demand for air traffic management in the coming future. Due to increasing competition in airport traveling services, the need for efficient airspace management is also increasing day by day and these factors are anticipated to drive the growth of the air traffic management market over the forecast period. Along with this the air traffic management systems are also actively contributing to maintaining the balance between the changing weather and airport activities. On the other hand, higher deployment costs and lack of awareness are the major restraining factors for the growth of the global air traffic management demand in the forecast years. Key Segments By Component: Software Platform Support Services By Application: Communication & Navigation Management Aerodrome Operations Management Surveillance By Region: North America Latin America Europe META Asia Pacific | |
| Target State: All States Target City : All Cities Last Update : Jul 23, 2024 10:59 AM Number of Views: 57 | Item Owner : Sudip Saha is the managing director and co-founder at Future Market Insights Contact Email: (None) Contact Phone: (None) |
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2024-11-23 (0.460 sec)