September 08, 2021
According to the research report titled ‘North America Air Traffic Management Market Forecast 2027 By System, By Component, Research Report, Regional Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, North America air traffic management market valuation is projected to reach USD 2.5 billion by the end of the forecast period 2015-2027.
As per the report findings, construction of new airports, developments in service systems, and strong government support in terms of planning & investments are acting as a major impetus to North America air traffic management market growth.
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Notably, countries in North America have been witnessing a steady increase in the number of air passengers, which is causing a sharp rise in airport expansion projects, positively swaying the overall industry outlook.
Rising discretionary income levels, time constraints faced due to busy lifestyle, and growing private investments are also fueling the market remuneration. For instance, BAE Systems plc invested over USD 100 million for building an aerospace & defense facility in Cedar Rapids, Iowa in November 2020.
Elaborating on COVID-19 impact, restrictions on air travel during the pandemic resulted in slowdown of industry development in 2020. Operations of commercial flights were halted, owing to mobility limitations and ban on foreign travel. However, airlines are currently focusing on integrating latest air traffic management solutions to make up for the incurred losses.
Based on component type, North America air traffic management industry is classified into hardware (navigation, communication, surveillance), and software. Considering system type, the market fragmentation comprises air traffic control, air traffic flow management, airspace management, and aeronautical information management.
Speaking of the competitive landscape, Saab AB, Raytheon Technologies Corp., Northrop Grumman Corp., NAV Canada, NATS Holdings Ltd., Lockheed Martin Corp., Leonardo S.p.A., L3Harris Technologies Inc., Kongsberg Gruppen ASA, Intelcan Technosystems Inc., Indra Sistemas S.A., Honeywell International Inc., Frequentis AG, BAE Systems plc, Avinor AS, ARTISYS s.r.o., ALTYS Technologies Inc., and Advanced Navigation & Positioning Corp. are the prominent players influencing North America air traffic management market dynamics.