Key Findings
The Asia-Pacific air traffic management market is projected to record a CAGR of 5.19% during the forecast period, 2023-2032. The increasing passenger and cargo aircraft traffic is one of the major growth drivers. For instance, as per the International Civil Aviation Organization (ICAO), the region is among the leading regions globally. However, the market growth is restrained by unstable investments with regard to the upgradation of ATM infrastructure.
Market Insights
Vietnam, Thailand, Indonesia, China, Australia & New Zealand, Japan, India, South Korea, and Rest of Asia-Pacific are evaluated for the Asia-Pacific air traffic management market growth analysis. In India, the rapidly increasing passenger volume, environmental regulations, and new air traffic management demands drive market growth. Also, the digital transformation is revamping the airport industry through the incorporation of the Internet of Things (IoT)-enabled technologies to aid airports in optimizing their operations and facilitate safe & timely passenger travel.
Further, airport modernization programs are on a surge in India, with sophisticated, new hardware replacing outdated air traffic management systems to supplement a steep growth in aircraft movements. Additionally, the government is planning to construct around 100 airports by 2035.
Furthermore, in Australia, the development of tier 2 and tier 3 airports for enhanced regional connectivity for increased revenue from trade & tourism offers growth opportunities. Besides, the country is focusing on a single sky concept and implementing new advanced air traffic control systems. Moreover, the rising passenger traffic and the improving economic conditions further contribute to market growth.
Competitive Insights
Some of the prominent companies in the market include Thales Group, Northrop Grumman, Saab AB, Raytheon Technologies, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments