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Asia Pacific Commercial Air Traffic Management Market Report 2023: Launch of New Airports and Expansion of Existing Airports to Accelerate New Installation Demand
Asian Pacific Commercial Air Traffic Management Market
Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Asia Pacific Commercial Air Traffic Management Market Forecast to 2030 - COVID-19 Impact and Regional Analysis" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific commercial air traffic management market is expected to grow from US$ 1,142.19 million in 2022 to US$ 2,326.01 million by 2030. It is estimated to grow at a CAGR of 9.3% from 2022 to 2030.
Growing Government Investment for Safer Air Transport is Driving the Asia Pacific Commercial Air Traffic Management Market
The growing demand for air transport worldwide compels the government to invest in more reliable and accurate management systems. Various countries are investing in technologies for safe and efficient air transport. In July 2022, the Chinese government announced an investment of around US$ 100 million for the expansion of Sao Tome International Airport. The project will enhance the airport's capability of managing air traffic movements in the coming years by integrating newer technologies. The government focuses on repairing and replacing hundreds of buildings and pieces of equipment to enhance flight operations. Thus, for the safer flights and efficient air transport, governments of various countries are investing in ATCs to create lucrative market growth opportunities in the Asia Pacific commercial air traffic management market.
Asia Pacific Commercial Air Traffic Management Market Overview
The Asia Pacific commercial air traffic management market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. Asia Pacific has the fastest-growing aviation industry that comprises the development of many airports and procurement pipelines of a large volume of commercial aircraft to cater to the continuously growing passenger traffic across different countries of the region. Moreover, the growing interest of FDI companies to invest in developing economies, such as India and Southeast Asian countries, to develop a strong aviation hub across the region is driving the market.
The rising demand for air travel across highly populated countries such as China and India, owing to the rising purchasing power of customers, is leading to an increase in passenger traffic across the region. This is further leading to the higher procurement of new aircraft across the region. For instance, in 2022, DGCA of India already announced plans to construct ~80 airports by the end of 2027, which is expected to catalyze the deployment of air traffic management systems during the forecast period. Similarly, in 2020, the Civil Aviation Administration of China (CAAC) announced to increase the number of civil airports from 241 to ~400 by the end of 2035, which means that China is expected to construct ten airports every year between 2021 and 2035. Such developments are likely to catalyze the Asia Pacific commercial air traffic management market growth during the forecast period.
Market Dynamics
Market Drivers
Growing Aircraft Delivery Volumes
Continuous Product Innovations and Launches
Market Restraints
Longer Lifespan of Air Traffic Management Systems
Market Opportunities
Growing Government Investment for Safer Air Transport
Increasing Number of Partnerships and Contracts
Future Trends
Launch of New Airports and Expansion of Existing Airports to Accelerate New Installation Demand
Rising Adoption of Remote and Virtual Towers
Asia Pacific Commercial air traffic management Market Segmentation
The Asia Pacific commercial air traffic management market is segmented into type, component, application, airport class, and country.
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 accounted for the largest share in the market in 2022.
Based on component, the Asia Pacific commercial air traffic management market is segmented into hardware and software. The hardware segment accounted for the larger share in the market in 2022.
Based on application, the Asia Pacific commercial air traffic management market is segmented into communication, navigation, surveillance, traffic control, and others. The surveillance segment accounted for the largest share in the market in 2022.
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 accounted for the largest share in the market in 2022.
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. China dominated the market share in 2022.
Report Attribute | Details |
No. of Pages | 229 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $1142.19 Million |
Forecasted Market Value (USD) by 2030 | $2326.01 Million |
Compound Annual Growth Rate | 9.3% |
Regions Covered | Asia Pacific |
A selection of companies mentioned in this report includes
BAE Systems Plc
Honeywell International Inc
Indra Sistemas SA
L3Harris Technologies Inc
Leonardo SpA
NEC Corp
Raytheon Technologies Corp
Saab AB
SITA SC
Thales SA
For more information about this report visit https://www.researchandmarkets.com/r/omnpyl-pacific?w=12
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