As per Inkwood Research, the Global Air Traffic Management Market is estimated to rise with a CAGR of 5.57% in terms of revenue during the forecasting period of 2023-2032.

“Browse 54 Market Data Tables and 82 Figures spread over 220 Pages, along with an in-depth TOC on the Global Air Traffic Management Market Forecast 2023-2032.”

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Air traffic management is used to ensure the safe and disciplined flow of air traffic without errors. The primary objective of the system is to minimize the congestion problem at the airports and control the flow of traffic day in and day out.

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Growing Passenger Traffic boosts Growth Opportunities

Air travel is a time-saving and efficient mode of transportation. Accordingly, air traffic is on the rise, necessitating the effective use of air traffic management to ensure secure and safe air travel. Also, airlines are expanding their fleet to accommodate more passengers. They are buying more aircraft and adding more routes. Similarly, airspace congestion highlights the need for air traffic management.

Further, the growing passenger traffic has led to the construction of new airports and the expansion of the existing ones, which has further raised the need for new air traffic management (ATM) infrastructure and increasing the capacity of the existing ATM systems. Besides, almost every country globally is engaged in airport construction or expansion activities encompassing significant investments. In this regard, Europe and Asia-Pacific witnessed increased funding. Such factors drive the global air traffic management market growth.

Air Traffic Flow Management is the Fastest-Growing Domain

Air traffic flow management (ATFM) was established to contribute to a safe, expeditious, and orderly flow of air traffic. It has existed as a subset of air traffic management (ATM). It is gaining relevance for tactical approaches needed for capacity-reducing and off-nominal instances and long-term & demand balancing. Besides, the demand for pre-tactical and tactical ATFM procedures is emerging, with optimal operation conditions becoming increasingly rare.

Asia-Pacific is the Largest Revenue-Generating Region

The rapidly-growing passenger traffic in Asia-Pacific is attracting investments alongside the airports increasing their passenger and flight handling capacities. Besides, the airlines in the region are expanding their fleet size to cater to more passengers. Additionally, the rising emphasis on modernizing the old ATM infrastructure offers growth opportunities.

Market rivalry is characterized by intense competition with vendors competing on factors like reliability and technological innovations while minimizing costs. Some of the eminent companies in the market include Indra Sistemas SA, L3Harris Technologies, Leonardo SpA, Honeywell, etc.

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HubBroker, a leading provider in enterprise integration solutions, e-invoicing and EDI, is introducing a new, more efficient way to capture data from PDF business documents automatically with near perfect accuracy. HubBroker’s PDF2XMl or PDF invoice extraction service easily extracts data from any PDF, creating a touchless invoice automation process.

“With PDF conversion solutions, we are taking the next step in helping our customers attain maximum efficiency and gain touchless invoice processing. Suppliers simply email PDF invoices, and through our iPaaS system, our customers receive invoices in their preferred format, without making a process change on the supplier or buyer side. Suppliers can email PDF invoices directly from their ERP system. HubBroker takes care of the data extraction, data validation and augmentation process automatically by using an array of technologies including deterministic algorithms, machine learning and optical character recognition,” explains Jens Toke, Director, HubBroker.

An analysis by Hubbroker shows that 77% of PDF invoices are machine-readable, which means they can be processed automatically by extracting the invoice information directly from the PDF file without the need for optical character recognition (OCR) technology. The benefit over OCR is quicker processing and reduced room for character interpretation that can cause invoice exceptions and human intervention. With PDF2XML, the exact information from the supplier’s ERP system is communicated directly into the buyers’ purchase-to-pay solution – meaning errors will become a thing of the past. 

“There is an increasing need to address the gap between invoices received as structured data in EDI/XML format, and paper invoices that are currently processed with the help of OCR. We have seen organizations concentrate on building complex EDI/XML connections with their strategic or high-volume suppliers and later settle for paper invoices and OCR to connect to their long tail. We know that a simpler, smarter way to process PDF invoices can fill this gap. Sending PDF invoices via email is one of the most used invoicing methods around the world. With our solutions, we make it easy for both the buyer and supplier, while maximizing automation and efficiency. Buyers can avoid late payments resulting in happier suppliers enjoying shorter Days Sales Outstanding” Jens continues.

Hubbroker's solutions have several key benefits:

• Buyers can connect to all their suppliers – large and small – without changing anything on the supplier side.
• This solution can be used with any typed of PDFs 
• Our solution is self-learning, which means it learns from transactions as it goes for continuous improvement, increased automation rates and more efficiency.

“All of this results in significant savings opportunities to our clients by eliminating exceptions. One of our clients estimates a savings of nearly 18 euros per invoice,” Jens Toke adds.

About HubBroker:

HubBroker ApS offers EDI Solutions & iPaaS integration platform to all types of small & large businesses. HubBroker Aps has developed an iPaaS system, which reads and writes PDF and other formats automatically. They integrate their iPaaS with various ERP accounting platforms like e-conomic, Uniconta, Dinero, Billy, Opencart, Microsoft Dynamics, Amazon, Shopify, SAP, Magento, Alibaba, Debitoor, QuickBooks, Xero, Visma, Oracle, Tradeshift and many more. They are authorized partners of many online accounting systems in Denmark, USA, Canada and several European countries.

Montreal, Canada ( release-news) December 9, 2022 - Future Electronics, a global leading distributor of electronic components, is featuring STMicroelectronics' ASM330LHHX in the latest edition of Sense Connect Control. This automotive-grade device is highlighted for its 6-axis and an extended temperature range of up to +105 °C.

The STMicroelectronics ASM330LHHX system-in-package features a 3-axis digital accelerometer and a 3-axis digital gyroscope. This device is manufactured leveraging the tried and true processes of the company for micromachined accelerometers and gyroscopes, resulting in a AEC-Q100 compliant solution with automotive-grade standards and reliability. With all parts optimized, the ASM330LHHX offers superior output stability, extremely low noise, and full data synchronization. An ideal choice for non-safety applications in the automotive industry.

To learn more, visit https://www.futureelectronics.com/resources/featured-products/stmicroelectronics-asm330lhhx-automotive-grade-system-in-package To see the entire portfolio of STMicroelectronics products available through Future Electronics, visit www.FutureElectronics.com.

Stay on top of all sensing and connectivity information in Sense Connect Control, a go-to e-newsletter by Future Electronics for engineers. Each edition is packed with product information, datasheets or videos showcasing the most advanced new sensing and connectivity solutions.

Visit www.FutureElectronics.com/subscribe to receive the latest issues of Sense Connect Control newsletter and always stay up to date with the latest innovations of the technology world. To see the entire portfolio of products available through Future Electronics, visit www.FutureElectronics.com.

About Future Electronics

Future Electronics is a global leader in electronics distribution, recognized for providing customers with global supply chain solutions, custom-tailored engineering services and a very extensive variety of electronic components. Founded by Robert G. Miller in 1968, Future Electronics believes its 5500 employees are its greatest asset, with 170 offices in 44 countries. Future Electronics is globally integrated, with a unified IT infrastructure that delivers real-time inventory availability and access to customers. With the highest level of service, the most advanced engineering capabilities, and the largest available-to-sell inventory in the world, Future's mission is always to Delight the Customer^®. For more information, visit www.FutureElectronics.com.

Media contact:

Jamie Singerman
Corporate Vice President - Worldwide
FUTURE ELECTRONICS
www.FutureElectronics.com
+1 514-694-7710
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