Modernisation of the air traffic management systems around the globe is of vital importance to business and commerce, the flying public and even the environment.

Skies across the world are becoming increasingly overcrowded. In Europe, flights are expected to increase between 70 and 120 per cent above 2007 levels by the year 2030. In the US, 50 per cent passenger growth is expected over the next decade.

We all know that existing air traffic management systems will be unable to keep up with the dramatic, global increase in flights and passengers. Inefficiencies are already causing billions of dollars in losses related to delays, complicating flight routes and increasing fuel consumption, all of which result in higher operating cost for airlines, higher ticket prices for passengers, as well as unnecessary increases in greenhouse gas emissions.

As the CEO of a company that has been ingrained in the aviation and defence industries for more than 50 years—from our broad portfolio of innovative defence technologies to our work designing and installing the ground infrastructure for ADS-B—it is a real pleasure to be here.

At ITT, our success is achieved by helping our customers address vital human needs. And addressing the challenges posed by increasingly overcrowded skies is exactly what all of us are gathered here to do today.

—As told to Sangeeta Saxena in Paris