The global air traffic control market size is predicted to reach USD 9.45 billion by 2027, exhibiting a CAGR of 6.96% during the forecast period. The growing cybersecurity threats in air traffic management will impel the adoption of ATC systems, which in turn, will boost the market growth. The modernization of airline fleet in different parts around the world will spur opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Air Traffic Control Market Size, Share and Industry Analysis by Point of Sale (Hardware, Software, and Services), By Airspace (Air Route Traffic Control Centers (ARTCC), Terminal Radar Approach Control (TRACON), Air Traffic Control Tower (ATCT), and Remote Tower (RT)), By Application (Communication, Navigation, Surveillance, and Automation), By Airport Size (Small, Medium, and Large), and Regional Forecast, 2020- 2027” the market size stood at USD 8.90 billion in 2019
The Report Lists the Key Companies in the Air Traffic Control Market:
- BAE Systems (The U.S.)
- Cyrrus Limited (The U.K)
- IndraSistemas, S.A. (Japan)
- Honeywell International Inc. (The U.S.)
- L3Harris Technologies Inc. (The U.S.)
Regional Analysis:
Presence of Well-known Companies to Augment Growth in North America
The market in North America stood at USD 3.15 billion in 2019 and is expected to remain dominant during the forecast period owing to the presence of major companies such as Raytheon Technologies, Honeywell International Inc., Northrop Grumman Corporation, and others. The increasing partnerships and acquisitions of key players can be another vital factor in boosting the market in North America. For instance, in April 2020, the merger between Raytheon Company and United Technologies Corporation to deliver advanced technologies to the airports and defense authorities. Europe is predicted to hold the largest share in the market during the forecast period due to the growing investment in the modernization of conventional ATC systems with technologically advanced real-time ATC systems. The escalating focus on smart and green airports will accelerate the market in Europe. Asia Pacific is predicted to grow rapidly during the forecast period owing to the rising air passenger traffic at domestic airports and international airports in countries such as India and China.
Browse Summary
https://www.fortunebusinessinsights.com/air-traffic-control-atc-market-102957
