The global air traffic management market size is expected to reach USD 15.01 billion by 2030, according to a new study by Polaris Market Research. The report “Air Traffic Management Market Share, Size, Trends, Industry Analysis Report, By Application (Communication, Navigation, Surveillance, and Automation); By Airspace; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising construction of new airports, expansion of various existing airports, and rapid growth in global air traffic are the key major factors projected to drive the growth of the global market. Various emerging economies around the globe are shifting their focus on the development and improvement of air travel within and across their borders, which is likely to have a positive impact on global market growth over the coming years.
For instance, United States airlines carried around 674 million passengers in 2021, with a significant increase of 82.5% from 2020 (369 million passengers). And in China, about 440.6 million passengers traveled by air, an increase of 5.5 percent from the last year. These numbers show a slight recovery in the global aviation industry after the COVID-19 outbreak in 2020.
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The high technological advancements and introduction to new and innovative solutions by several key market players around the globe are contributing significantly to the growth of the global market. For instance, in November 2021, Honeywell announced the launch of its new generation NAVITAS software suite platform for supporting the several operations of airport operators and navigation service providers. The new software complies with artificial intelligence, big data, machine learning, and cybersecurity, which is expected to support the automation and digitization of air traffic services.
Air Traffic Management Market Report Highlights
Polaris Market Research has segmented the air traffic management market report based on application, airspace, end-use, and region:
Air Traffic Management, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Air Traffic Management, Airspace Outlook (Revenue - USD Billion, 2018 - 2030)
Air Traffic Management, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Air Traffic Management, Regional Outlook (Revenue - USD Billion, 2018 - 2030)