Report : Asia Pacific Commercial Air Traffic Management Market Forecast to 2030 - COVID-19 Impact and Regional Analysis by Type (Air Traffic Services, Air Traffic Flow Management, and Airspace Management), Component (Hardware and Software), Application (Communication, Navigation, Surveillance, Traffic Control, and Others), and Airport Class (Class I, Class II, Class III, and Class IV)
At 9.3% CAGR, the Asia Pacific Commercial Air Traffic Management Market is speculated to be worth US$ 2,326.01 Million by 2030, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific commercial air traffic management market was valued at US$ 1,142.19 million in 2022 and is expected to reach US$ 2,326.01 million by 2030, registering a CAGR of 9.3% from 2022 to 2030. Growing aircraft delivery volumes and increasing partnerships & collaborations are the critical factors attributed to the Asia Pacific commercial air traffic management market expansion.
The growing need for air traffic management systems encourages companies to develop advanced solutions. They prefer various strategic alliances, such as partnerships, collaborations, and contracts, a few of which are mentioned below:
- In July 2022, Eve Holding, Inc. announced that they signed a letter of intent with Halo Aviation Ltd. to develop and launch Eve's Urban Air Traffic Management (UATM) software solution. Also, Halo will acquire Eve’s software to maximize its UAM operations.
- In March 2022, the Airports Authority of India (AAI) and Bharat Electronics Limited (BEL) entered into an agreement to develop indigenous civil air traffic management systems with Advanced-Surface Movement Guidance and Control System (ASMGCS).
Several companies, through contracts and partnerships, are working on providing advanced air traffic management systems, which are anticipated to provide potential opportunities for the growth of the Asia Pacific commercial air traffic management market..
On the contrary, longer lifespan of air traffic management systems hurdles the growth of Asia Pacific commercial air traffic management market.
Based on type, the Asia Pacific commercial air traffic management market is segmented into air traffic services, air traffic flow management, and airspace management. The airspace management segment held 44.3% market share in 2022, amassing US$ 505.61 million. It is projected to garner US$ 957.53 million by 2030 to expand at 8.3% CAGR during 2022–2030.
Based on component, the Asia Pacific commercial air traffic management market is segmented into hardware and software. The hardware segment held 64.8% market share in 2022, amassing US$ 740.41 million. It is projected to garner US$ 1,463.04 million by 2030 to expand at 8.9% CAGR during 2022–2030.
Based on application, the Asia Pacific commercial air traffic management market is segmented into communication, navigation, surveillance, traffic control, and others. The surveillance segment held 35.1% market share in 2022, amassing US$ 400.85 million. It is projected to garner US$ 906.37 million by 2030 to expand at 10.7% CAGR during 2022–2030.
Based on airport class, the Asia Pacific commercial air traffic management market is segmented into Class I, Class II, Class III, and Class IV. The Class I segment held 67.4% market share in 2022, amassing US$ 769.66 million. It is projected to garner US$ 1,621.18 million by 2030 to expand at 9.8% CAGR during 2022–2030.
Based on country, the Asia Pacific commercial air traffic management market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 37.3% market share in 2022. It was assessed at US$ 426.26 million in 2022 and is likely to hit US$ 860.62 million by 2030, exhibiting a CAGR of 9.2% during the forecast period.
Key players dominating the Asia Pacific commercial air traffic management market are BAE Systems Plc, Honeywell International Inc, Indra Sistemas SA, L3Harris Technologies Inc, Leonardo SpA, NEC Corp, Raytheon Technologies Corp, Saab AB, SITA SC, and Thales SA, among others.
- In 2021, Thales announced the launch of a new digital secondary surveillance radar named RSM NG for air traffic management (ATM). This new radar can track around 2,000 flights and disseminate 64 simultaneous data outputs to different air traffic control centers.
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