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The global air traffic management market was valued at US$ 13.7 Billion in 2021.
We expect the global air traffic management market to exhibit a CAGR of 10.4% during 2022-2027
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary restrictions on intra- and inter-national travel activities, thereby negatively impacting the global market for air traffic management.
The rising risk of cyber threats, the growing adoption of the satellite-based Air-Traffic Control (ATC) systems, and the increasing passenger traffic, owing to lower flight fares, are primarily driving the global air traffic management market.
Based on the domain, the global air traffic management market has been segregated into air traffic control, air traffic flow management, and aeronautical information management. Among these, air traffic control currently holds the largest market share.
Based on the component, the global air traffic management market can be bifurcated into hardware and software. Currently, hardware exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global air traffic management market include Adacel Technologies Limited, Advanced Navigation and Positioning Corporation, Airbus SE, Honeywell International Inc., Indra Sistemas S.A., L3Harris Technologies Inc., Leidos, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, and Thales Group.
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