The global air traffic control market size is predicted toreach USD 9.45 billion by 2027, exhibiting a CAGR of 6.96% during the forecastperiod. The growing cybersecurity threats in air traffic management will impelthe adoption of ATC systems, which in turn, will boost the market growth. Themodernization of airline fleet in different parts around the world will spuropportunities for the market during the forecast period, states FortuneBusiness Insights in a report, titled “AirTraffic Control Market Size, Share and Industry Analysis, by Point of Sale(Hardware, Software, and Services), By Airspace (Air Route Traffic ControlCenters (ARTCC), Terminal Radar Approach Control (TRACON), Air Traffic ControlTower (ATCT), and Remote Tower (RT)), By Application (Communication,Navigation, Surveillance, and Automation), By Airport Size (Small, Medium, andLarge), and Regional Forecast, 2020- 2027” the market size stood at USD 8.90billion in 2019
List of the keycompanies operating in the Air Traffic Control Market are:
· BAE Systems (The U.S.)
· Cyrrus Limited (The U.K)
· Indra Sistemas, S.A. (Japan)
· Honeywell International Inc. (The U.S.)
· L3Harris Technologies Inc. (The U.S.)
· Raytheon Technologies (The U.S.)
· Saab AB (Sweden)
· Leonardo S.p.A (Italy)
· Thales Group (France)
· Westminister Group Plc. (The U.K)
COVID-19 ImpactAnalysis:
The recent coronavirus outbreak has had an adverse impact onmajority of the businesses across the world. Accounting to the strict measurestaken by governments of major countries, it has become increasingly difficultto carry out business operations. The report will include the impact of theCovid-19 pandemic on the global. It will also include the strategies that majorcompanies are adopting to overcome the downfalls during this pandemic.
We are making continuous efforts to help your businesssustain and grow during COVID-19 pandemics. Based on our experience andexpertise, we will offer you an impact analysis of coronavirus outbreak acrossindustries to help you prepare for the future.
What does the MarketReport Offer?
The market report offers an exhaustive study of severalfactors such as drivers, restraints, challenges, and opportunities that willaffect the growth of the market in the forthcoming years. The report coversregional demographics that include qualitative and quanttative information aboutthe regions that are further divided into nations that are contributing to thegrowth of the market between 2019 and 2026. Furthermore, the competitivelandscape has been discussed in-depth that include information of severalplayers operating in the market. Moreover, information on the adoption ofstrategies such as merger and acquisition, collaboration, partnerships, andjoint ventures by the companies that will drive the growth of the market hasbeen included during the projected horizon.
Market Driver:
Surge in AirPassenger Traffic to Promote ATC Employment
The development of cost-effective domestic flights byairlines to better serve the snowballing travelers will subsequently foster thegrowth of the market. The prospering aviation industry will create lucrativebusiness openings for the market in the forthcoming years. The rising passengerpreference for air travel will support the growth of the market. Moreover, theincreasing government funding for robust air transportation in the emerging nationswill contribute positively to the growth of the market. According to theInternational Air Transport Association, an additional 44% of air passengertraffic is expected to come from China and India in the next ten years. Theupgradation of existing ATC equipment systems to advanced automatic ATC systemswith an aim to enhance the overall efficacy of flight travels and diminishground-based accidents. This factor is likely to aid the air traffic controlmarket growth in the foreseeable future. In addition, the implementation ofartificial intelligence (AI) to increase operational efficiency andproductivity in ATC systems will further encourage the growth of the market.
Regional Analysis:
Presence ofWell-known Companies to Augment Growth in North America
The market in North America stood at USD 3.15 billion in2019 and is expected to remain dominant during the forecast period owing to thepresence of major companies such as Raytheon Technologies, HoneywellInternational Inc., Northrop Grumman Corporation, and others. The increasingpartnerships and acquisitions of key players can be another vital factor inboosting the market in North America. For instance, in April 2020, the mergerbetween Raytheon Company and United Technologies Corporation to deliveradvanced technologies to the airports and defense authorities. Europe ispredicted to hold the largest share in the market during the forecast perioddue to the growing investment in the modernization of conventional ATC systemswith technologically advanced real-time ATC systems. The escalating focus onsmart and green airports will accelerate the market in Europe. Asia Pacific ispredicted to grow rapidly during the forecast period owing to the rising airpassenger traffic at domestic airports and international airports in countriessuch as India and China.
Browse Summary of This Research Report with Detailed Tableof Content: https://www.fortunebusinessinsights.com/air-traffic-control-atc-market-102957
