Air Traffic Control Market Revenue to Cross USD 10 Bn by 2027: Global Market Insights Inc.
SELBYVILLE, Del., June 2, 2021 (Newswire.com) - According to the latest report "Air Traffic Control Market by Component (Hardware, Software, Services), Centers (Air Route Traffic Control Center , Terminal Radar Approach Control, Air Traffic Control Tower, Flight Service Station), End-Use (Commercial, Defense), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of air traffic control (ATC) will cross $10 billion by 2027. The market growth is credited to the increasing number of airports and air passengers, rising the air traffic. The air traffic control systems maintain the flow of traffic, playing an important role in avoiding collision of aircraft.
The market was heavily impacted, owing to the quick spread of COVID-19 across the globe during the first three quarters of 2020. The governments across various countries had imposed strict lockdowns to reduce the spread of the virus. This restricted air travel affected the market. However, the market is expected to gain a small momentum by 2021 due to uplifting of travel bans by several countries attributed to reduction in COVID cases.
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The Asia Pacific air traffic control market is estimated to register growth of 7% by 2027, led by the rising tourism, development in infrastructure, increasing airports, and growing investments. For instance, in 2018, the Indian government invested around USD 2.5 billion in the development of a new greenfield international airport at Navi Mumbai. The airport is poised to be complete in four phases by 2032. This airport will be equipped with modern amenities, facilities, and systems for international and domestic passengers. The new airport will be installed with advanced ATC systems to reduce the collisions and improve the communication between the controller and pilot. Technological upgrades and modernization are projected to fuel the market expansion during the forecast period.
Some of the major players operating in the air traffic control market are Indra Sistemas, S.A, Frequentis AG, L3Harris Technologies, Inc., Raytheon Company, Nats Holding, Nav Canada, BAE Systems, Northrop Grumman Corporation, Saab Ab, Adacel Technologies, Leonardo S.P.A, Lockheed Martin Corporation, Skysoft-Atm, Honeywell International Inc., and Thales Group.
These companies are focusing on expanding their customers base by providing various services, software solutions, and systems to strengthen their market hold. For instance, in January 2020, Raytheon Company partnered with Federal Aviation Administration to modernize their Standard Terminal Automation Replacement System (STAR) system. The objective of this partnership is to enhance the overall operations of arrival and departure of airplanes in commercial and military airports.
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Some major findings in the air traffic control market report include:
- Rising emphasis on technologically advanced airports in developed countries is augmenting the market value for air traffic control systems. The deployment of ATC systems and components to reduce air traffic and maintain continuity of the airport process is driving the market.
- Increasing investments in the development of new green fields in countries including the India, the UAE, China, and Italy will drive the demand for air traffic control systems.
- The service segment is predicted to witness a steady growth rate over the forecast timeline impelled by continuous requirement of training and maintenance services.
Table of Contents (ToC) of the report:
Chapter 3 Air Traffic Control Market Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on air traffic control market landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.3 Industry value chain
3.2.3.1 Research & development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Technology providers
3.3.3 System integrators
3.3.4 End use landscape
3.3.5 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Porter's analysis
3.9 PESTEL analysis
Browse Complete Table of Contents (ToC) at
https://www.gminsights.com/toc/detail/air-traffic-control-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Source: Global Market Insights Inc.
