Air Traffic Control Market: Learn All About ATC From These Leading Companies Profiles
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As per the report published by Allied Market Research, the global air traffic control market generated $8.41 billion in 2019, and is estimated to reach $11.50 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing number of airports across the globe and surge in need of enhanced airspace management systems drive the growth of the global air traffic control market. However, high cost of installation of ATC systems is anticipated to restrain the growth of the market. Furthermore, growing adoption of satellite-based ATC systems is expected to create new growth opportunities for the market player during the forecast period.
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• The construction of new airports across the globe has been halted amid lockdown, which declined the demand for ATC systems.
• Air traffic control systems manufacturers across the globe have temporarily suspended their manufacturing activities due to disrupted supply of components amid lockdown.
• Several countries have grounded their international and domestic flights and have closed their air traffic control facilities due to rising cases of Covid-19 patients among the airport personnel.
Air Traffic Control Market to Reach $11.50 Bn, Globally, by 2027 at 4.1% CAGR: Allied Market Research | https://www.prnewswire.com/news-releases/air-traffic-control-market-to-reach-11-50-bn-globally-by-2027-at-4-1-cagr-allied-market-research-301089877.html
The report offers detailed segmentation of the global air traffic control market based on airspace, applications, offerings, airport size, sector, and region.
Based on airspace, the ATCT segment contributed to the largest share in 2019, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the remote tower segment is estimated to portray the highest CAGR of 7.2% during the forecast period.
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Based on application, the surveillance segment accounted for the largest share in 2019, holding more than two-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the automation segment is expected to register the highest CAGR of 6.8% from 2020 to 2027.
Based on region, Asia-Pacific contributed the highest share, accounting for more than one-third of the global air traffic control market in 2019, and will maintain its dominance throughout the forecast period. However, LAMEA is expected to grow at the highest CAGR of 6.2% from 2020 to 2027.
Air Traffic Control (ATC) Market Size Worth $11.50 Billion by 2027: Allied Market Research | https://www.globenewswire.com/en/news-release/2020/08/10/2075740/0/en/Air-Traffic-Control-ATC-Market-Size-Worth-11-50-Billion-by-2027-Allied-Market-Research.html
Leading market players analyzed in the research include BAE Systems, Adacel Technologies Limited, Indra Sistemas SA, Frequentis AG, Northrop Grumman Corporation, Leonardo S.p.A, Saab AB, Raytheon Technologies Corporation, Thales Group, and SkySoft-ATM.
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