The complexity and volumes of the projected future traffic require very demanding air traffic management systems and operations, and the perspective of continuing growth have triggered on both sides of the Atlantic initiatives to modernise the Air Traffic Management systems, namely NextGen in the USA and SESAR in Europe. The present European ATM infrastructure must be transformed. It must be propelled into the modern age, industrialised and developed into an integrated ATM Network facilitating the sustainable development of air transport, which will in turn contribute to a strong and sustainable growth of national economies, while enhancing safety and minimising environmental impact. This transformation requires the application of new operational concepts which fully exploit developments in information technology and airborne intelligence, integrated and implemented in a uniform and consistent manner. This chapter summarises the views of many European opinion leaders and actors of the industry captured in a recent study. It does not pretend to address these all in detail, but aims to provide the reader with insight into aspects where research is required, where issues must be confronted and resolved – where the industry’s challenges lie. Whilst the chapter addresses these challenges with a distinct European flavour, it is quite possible that many aspects will find sympathy elsewhere around our increasingly interdependent globe.