Dublin, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The "Air Traffic Management Market Report 2023-2033" has been added to ResearchAndMarkets.com's offering.
This comprehensive report delves into the dynamics of the air traffic management market, forecasting robust revenue growth up to 2033. With an estimated value exceeding US$11.30 billion in 2022, the report identifies organizations poised for success. By comprehending the capabilities, advancements, and commercial potential of key players, businesses can strategically position themselves in this thriving sector.
In an era of escalating digitalization in aviation, advancements in air traffic management (ATM) are significantly driven by digital technologies. These technologies are reshaping various facets of ATM, augmenting efficiency, safety, and capacity within the airspace system. Here are key ways in which digitalization propels air traffic management:
- Digitalization facilitates routine task automation and furnishes decision support tools for air traffic controllers. Advanced automation systems, including data processing algorithms and machine learning models, analyze vast real-time data volumes, providing controllers with valuable insights. These insights aid informed decision-making and optimize traffic flow.
Shortage of Skilled Workforce in the Air Traffic Management Industry:
A pressing concern in recent years is the shortage of skilled workforce in the air traffic management industry. This shortage can stem from several factors and possess implications for the industry as a whole. Many air traffic controllers and skilled professionals in the industry are approaching retirement age, leading to a loss of experienced workforce. Their departure creates a gap that is challenging to swiftly fill with new, adequately trained personnel.
The aviation sector has witnessed consistent growth in recent years, leading to heightened demand for air traffic management services. This growth places additional strain on existing personnel and exacerbates the shortage. Air traffic management requires specialized skills and knowledge encompassing radar interpretation, effective communication, quick decision-making, and adept management of high-stress situations. Acquiring and refining these skills necessitates extensive training.
Market Dynamics:
Market Driving Factors:
- Modernization of Air Traffic Management Infrastructure
- Enhanced Focus on Air Safety to Propel Air Traffic Management Market
Market Restraining Factors:
- High Costs Associated with Air Traffic Management Equipment
- Shortage of Skilled Workforce in the Air Traffic Management Industry
- Cyber Threat Risk in the Air Traffic Management Industry
Market Opportunities:
- Advancements in Unmanned Traffic Management
- Escalating Demand for Air Passenger Traffic
- Amplified Digitalization in Aviation Opens New Vistas
Segments Covered:
The report categorizes the market into offering outlook (hardware and software), application outlook (communication, navigation, surveillance, and automation), service outlook (ATM as a Service, maintenance, support), and airspace outlook (air traffic services, air traffic flow management, airspace management, aeronautical information management). Additionally, the report offers revenue forecasts for prominent national markets across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Leading Companies:
Profiles of key players in the air traffic management market are showcased in the report. These include:
- BAE Systems
- Honeywell International Inc.
- L3Harris Technologies
- Leidos Holdings
- Leonardo
- Lockheed Martin Corporation
- Northrop Grumman Corp.
- Raytheon Technologies Corporation
- SITA
- Thales
The "Air Traffic Management Market Report 2023-2033" is an indispensable resource for industry leaders, stakeholders, and companies considering diversification into different sectors or regions. It provides essential insights into the air traffic management market, enabling businesses to make informed decisions for success in this dynamic landscape.
For more information about this report visit https://www.researchandmarkets.com/r/2g9x8e
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