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With 8.4 % CAGR, Air Traffic Control (ATC) Market Growth to Surpass USD 13.5 billion

12-01-2022 09:40 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

With 8.4 % CAGR, Air Traffic Control (ATC) Market Growth

The report on the Air traffic control (ATC) market provides a detailed trend analysis from 2018 to 2027. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.

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The Air traffic control (ATC) market is estimated to be USD 9.0 billion in 2022 and is projected to reach USD 13.5 billion by 2027, at a CAGR of 8.4% from 2022 to 2027. The market is driven by factors such as development of advanced technologies and increasing investments in airport infrastructure, demand for safe, secure, efficient, and environmentally sustainable air navigation system etc.

Based on airspace, remote tower subsegment is estimated to dominate the market during the forecast period

Based on airspace, the air traffic control market is segmented into air route traffic control center (ARTCC), terminal radar approach control (TRACON), air traffic control tower (ATCT), and remote tower.
Based on investment type, greenfield segment is estimated to dominate the market during the forecast period.

In greenfield projects, all activities, from planning to commissioning, are carried out on an undeveloped site. Also, greenfield airports are planned in cities that are not connected by air services. A few greenfield airports are also constructed near the existing airports to effectively manage the growing air passenger traffic, as well as to address the growing requirement for increased capacity and efficiency.

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During the forecast period, North America will dominate the air traffic control (ATC) market. The US is the largest market in the North America region. Countries in North America are investing in air traffic control (ATC) to enhance defense and surveillance capabilities of the armed forces. North America held the largest market share in the Air traffic control Market in 2022, with a value of USD XX billion, and is expected to reach USD XX billion in 2027. Increased investment in and implementation of advanced technologies, such as communications, surveillance, and navigation systems, provides the industry with promising growth prospects. The increase in air traffic at regional airports has also helped the industry's revenue.

News also covered: https://www.prnewswire.com/news-releases/air-traffic-control-atc-market-worth-13-5-billion-by-2027---exclusive-report-by-marketsandmarkets-301687063.html

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