iCrowd Newswire – Aug 1, 2020
The Global Air Traffic Control Market reckoned at USD 8 billion in 2019 and is anticipated to reach USD 10.1 billion by 2027, at a 3 % CAGR of during the projection period. Aircraft traffic management ensures the safety of all commercial aircraft. Air traffic control is an essential service required to assist the orderly, safe, rapid, and efficient air traffic movement. It also helps in aircraft control in conditions of bad climate and prevents crashes on land or other aircraft. It notifies aircraft regarding operational routes and aids in the situation of aircraft distress within due time.
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The rising air traffic is pushing the demand for the global Air Traffic Control Equipment. The flexibility and seamless control over air traffic control systems are essential and play a vital role in market growth. Caution and precision are significant watchwords for people working in air traffic control units. The air traffic control units are under increasing scrutiny due to stringent conditions and rules stipulated by regulatory bodies. Furthermore, the need for advanced developments in air traffic management distinguishes these units from others. As a result of the issues mentioned above, the global Air Traffic Control Equipment market is pitched to move along a lucrative development path in the coming years.
The request for Air Traffic Control Equipment is likely to improve due to the development of new airports and the expansion & modernization of the existing ones to meet the increasing passenger & freight traffic needs. Advancements in microelectronics have presented numerous growth opportunities for the Air Traffic Control Equipment market. Furthermore, the innovations in the domain are likely to induce market development during the prediction period. The constant supervision of air traffic without interruption is difficult or impossible with a standby arrangement of obsolete ATC equipment.
The Air Traffic Management market is segregated into Air Traffic Services, Air Traffic Flow Management, Airspace Management, and Aeronautical Information Management, based on airspace. The Aeronautical Information Management (AIM) segment is projected to grow at the tremendous CAGR during the forthcoming period. Its development can be pointed to the need for real-time aeronautical details supplied in the form of frequently updated data for safe, efficient, and cost-effective ATM.
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The global market has gained significant returns from increasing investments in the aviation industry. Besides, progressions in data handling and broadcast technologies have captured vendors’ attention in the global Air Traffic Control Equipment market. The need for secure landing and take-off has compelled decision-makers in the aviation industry to push ATC units to frequent advancements. Furthermore, the existence of multiple aircraft across aerial trajectory necessitates the use of cutting-edge equipment for air traffic control and administration. In this scheme of things, it is safe to infer that the global Air Traffic Control Equipment market would grow substantially in the coming years.
Companies such as Raytheon Company, Indra Sistemas, Harris Corporation, Thales Group, Northrop Grumman Corporation, Honeywell International Inc., Saab AB, BAE Systems, Frequentis Group, Lockheed Martin Corporation, Saipher ATC, Advanced Navigation & Positioning Corporation, Intelcan Technosystems Inc., ALTYS Technology, Searidge Technologies, Leonardo S.p.A, Adacel Technologies Limited, ACAMS Airport Tower Solutions, ARTISYS, s.r.o, Sky Soft, Nav Canada, Avinor AS, Serco group PLC, Kongsberg, NATS Limited and some others are major players in the market.
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