Air Traffic Management & Consulting Market to Reach USD 16.53 Billion by 2027; Rising Investment by Companies to Aid Growth: Fortune Business Insights™
Key companies profiled are Thales Group, Raytheon Company, Indra Sistemas, S.A., Harris Corporation, Northrop Grumman Corporation, Honeywell International, Inc., BAE Systems PLC, Saab AB, Lockheed Martin Corporation, Honeywell International, among others
PUNE, India, June 10, 2020 /PRNewswire/ -- The global air traffic management & consulting market is set to gain momentum from the increasing investment by public & private companies in the aviation industry. This information is given by Fortune Business Insights™ in a recently published report, titled, "Air Traffic Management & Consulting Market Size, Share and Covid-19 Impact Analysis, by System (Air Traffic Services, Airspace Management, Air traffic Flow Management, Aeronautical Information Management), By Component (Hardware, Software), By End Use (Commercial, Tactical), and Regional Forecast, 2020- 2027." The report further states that the air traffic management & consulting market size was USD 13.30 billion in 2019 and is projected to reach USD 16.53 billion by 2027, thereby exhibiting a CAGR of 5.58% during the forecast period.
Browse Summary of This Research Report with Detailed Table of Content:
https://www.fortunebusinessinsights.com/industry-reports/air-traffic-management-market-101813
COVID-19 Impact Analysis:
The recent coronavirus outbreak has had an adverse impact on majority of the businesses across the world. Accounting to the strict measures taken by governments of major countries, it has become increasingly difficult to carry out business operations. The report will include the impact of the Covid-19 pandemic on the global. It will also include the strategies that major companies are adopting to overcome the downfalls during this pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Get Sample PDF Brochure with "Short-Term and Long-Term Impact of COVID-19" on Air Traffic Management & Consulting Market,
Please Visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/air-traffic-management-market-101813
This Report Answers the Following Questions:
- What are the significant market trends, challenges, opportunities, growth drivers, and barriers?
- Which region is anticipated to lead the market by generating the largest revenue?
- How will the key companies cope up with the outbreak of Covid-19 pandemic?
- Which segment is likely to hold the highest share in the near future?
Drivers & Restraints-
Rising Adoption of AI Technology to Drive Growth
The officials of a large number of prominent agencies, such as Council of International Civil Aviation Organization (ICAO) and Civil Air Navigation Services Organization (CANSO) are expressing their concerns regarding the high air traffic by air taxi services and unmanned aircraft. These regulatory bodies are apprehensive about the security and safety of air congestion that is occurring because of the rising usage of such services. Many of these agencies are gradually shifting towards artificial intelligence (AI) to improve the communication process. It would also help in enhancing the exchange of information between the air traffic control (ATC) authority and the aircraft in real-time. It is set to thereby boost the air traffic management & consulting market growth in the coming years.
How Will the Outbreak of Covid-19 Pandemic Affect the Market?
- The global economy is falling persistently because of the spread of the deadly coronavirus worldwide.
- The aviation industry is expected to suffer a heavy loss throughout the forthcoming years.
- The International Air Transport Association (IATA) mentioned that the global aviation industry is anticipated to experience a drop of USD 314 in 2020. It refers to a revenue loss of around -55%.
- Owing to the rapid spread of the virus, almost every country is under lockdown. It has thus, brought the industry to a standstill.
- Since the past three months, there has been a tremendous decline in the number of passengers. It is also set to severely affect the investments by the key companies in developing unique air traffic management & consulting systems.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/air-traffic-management-market-101813
Regional Analysis:
Segment-
Aeronautical Information Management Segment to Grow Rapidly Owing to Rising Operation of Flights
Based on system, the market is segregated into aeronautical information management, air traffic flow management, airspace management, and air traffic services. Amongst these, the air traffic flow management segment generated 21% air traffic control equipment market share in 2019. The aeronautical information management segment is expected to grow at a fast pace in the coming years backed by its ability to perform the most vital tasks efficiently. The increasing operation of numerous flights across the globe would also augment growth.
Regional Analysis-
Rising Investment in Tourism Sector to Bolster Growth in the Middle East
In 2019, North America procured USD 4.30 billion in terms of revenue stoked by the increasing number of air traffic management & consulting system manufacturers in this region. Europe would lead the market owing to the presence of industry giants, such as Saab AB, Indra Sistemas, BAE System, and Thales Group. In Asia Pacific, the market would exhibit rapid growth fueled by the rising number of airports in various countries. Airport authorities are therefore planning to upgrade and modernize the existing air traffic management & consulting systems. In addition to this, developing countries, such as China and India possess several planned airport construction projects. In the Middle East, the presence of international airports would accelerate growth. The region is likely to exhibit high CAGR backed by the growing investment in the tourism sector.
Competitive Landscape-
Key Players Focus on Introducing Innovative Air Traffic Control Equipment
The market houses various companies that are mainly following the organic or inorganic strategies of signing long-term contracts with the airport authorities, launching state-of-the-art air traffic management & consulting systems, and acquiring other start-ups companies. Below are two of the latest industry developments:
- May 2018: Harris Corporation was awarded a contract by the Airport Authority of India (AAI). It is worth USD 141 million and will enable the company in creating Futuristic Telecommunication Infrastructure. It will not only help in enhancing the performance of India's air traffic management, but also improve air safety and network operation.
- October 2018: Inverness Airport in Scotland recently operated with the help of InNOVA approach. It also included the Tower display surveillance data processing system. These were provided to the airport by Indra Navia.
Fortune Business Insights™ lists out the names of all the organizations providing air traffic management & consulting. They are as follows:
- Thales Group
- Raytheon Company
- Indra Sistemas, S.A.
- Harris Corporation
- Northrop Grumman Corporation
- Honeywell International, Inc.
- BAE Systems PLC
- Saab AB
- Lockheed Martin Corporation
- Honeywell International
Quick Buy – Air Traffic Management & Consulting Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101813
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Global Air Traffic Management & Consulting Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By System
- Air Traffic Services
- Air Traffic Flow Management
- Airspace Management
- Aeronautical Information Management
- Market Analysis, Insights and Forecast – By Component
- Hardware
- Software
- Market Analysis, Insights and Forecast – By End-use
- Commercial
- Tactical
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- The Middle East
- Rest of the world
Get your Customized Research
Report: https://www.fortunebusinessinsights.com/enquiry/customization/air-traffic-management-market-101813 Have a Look at Related Research Insight:
Advanced Traffic Management System (ATMS) Market Size, Share & Industry Analysis, By Type (Traffic Information, Traffic Assignment, Traffic Optimization, Traffic Prediction) Others and Regional Forecast, 2019-2026
Airport Security Market Size, Share and Industry Analysis, by Security Type (Access Control, Cyber security, Perimeter Security, Screening, Surveillance, and Others), By System (Metal Detectors, Fiber Optic Perimeter Intrusion, Backscatter X-Ray Systems, Cabin Baggage Screening Systems, and Others), By Airport Model (Airport 2.0, Airport 3.0, and Airport 4.0), By Airport Class (Class A, Class B, and Class C), and Regional Forecast,2020- 2027
Airport Services Market Size, Share & COVID-19 Impact Analysis, By Type (International, and Domestic), By Application (Aeronautical Services, Non-Aeronautical Services), By Infrastructure Type (Greenfield Airport, Brownfield Airport), and Regional Forecast, 2020-2027
Aircraft Line Maintenance Market Size, Share & COVID-19 Impact Analysis, By Type (Transit Checks, and Routine Checks), By Aircraft Type (Commercial, Military), By Platform (Traditional Line Maintenance, Digital Line Maintenance), By Service (Engine and APU Service, Component Replacement and Rigging Services, Aircraft On Ground Service, and Others) and Regional Forecasts, 2020-2027
Smart Airport Market Size, Share & Industry Analysis, By Platform (Hardware Systems, Data Management, Software Systems, and Others), Airport Model (Airport 2.0, Airport 3.0, and Airport 4.0), Airport Size (Small, Medium, and Large), Application (Airside, Landside, Terminal Side), Airport Operation (Aeronautical and Non-aeronautical), and Regional Forecasts, 2020- 2027
Aviation MRO Software Market Size, Share and COVID-19 Impact Analysis, By Solution [Software (ERP Solution, Point Solution,) and Service (Deployment & Integration, Consulting], By Function [Maintenance Management (Line, Base, Engine), Operation Management (Training Safety & Quality Assurance), Business Management (Accounts, Finance, HR)], By Point of Sale (Subscription, Ownership), By Deployment Type, By End-Use and Regional Forecast, 2020-2027
Homeland Security and Emergency Management Market Size, Share and Industry Analysis, By System (Modeling And Simulation, Communication System, Rescue And Recovery Systems, Intelligence And Surveillance System, Detection And Monitoring System, Weapon System,), By End Use (Cyber Security, CBRNE Security, Aviation Security, Maritime Security, Law Enforcement and Intelligence Gathering, Critical Infrastructure Security), and Regional Forecast, 2020- 2027
Wireless Infrastructure Market Size, Share and Industry Analysis, By Connectivity Type (5G, 4G & LTE, 3G, 2G and Satellite), By Infrastructure Type (Small Cells, Mobile Core, Macro-cell, Radio Access Networks (RAN), Distributed Antenna System (DAS), Cloud RAN, Carrier Wi-Fi, Backhaul, and SATCOM), By Platform (Government & Defense, Commercial), and Regional Forecast,2019- 2026
C5ISR Market Size, Share and Industry Analysis, By Type (Land, Naval, Airborne, Space), By Application (Electronic Warfare, Surveillance and Reconnaissance, Intelligence, Command, and Control), By Solution (Product and Services), and Regional Forecast, 2019- 2026
Satellite Communication (SATCOM) Market Size, Share & Industry Analysis, By Component (Receiver, Transmitter/Transponder, Transceiver, Antenna, Modem/Router), By Technology (Very Small Aperture Terminal (VSAT), SATCOM-On-The-Move (SOTM), SATCOM-On-The-Pause (SOTP), SATCOM Telemetry), By Platform (Commercial and Government & Defense), By End-Use (Portable equipment, Land equipment, Maritime equipment), and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: [email protected]
Fortune Business Insights™
Read Press Release: https://www.fortunebusinessinsights.com/press-release/air-traffic-management-consulting-market-10003
Photo: https://mma.prnewswire.com/media/1178912/Air_Traffic_Management_Consulting.jpg
Logo: https://mma.prnewswire.com/media/902288/Fortune_Business_Insights_Logo.jpg
Share this article