Ensuring Smooth and Safe Railway Operations : Insights into the Railway Signaling System Market

According to a new report published by Allied Market Research, titled, "Railway Signaling System Market," The railway signaling system market was valued at $12.8 billion in 2021, and is estimated to reach $21.7 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/9150

Europe dominated the global railway signaling system market in 2021. The European Union (EU) has the largest electrified rail length in the world, and is considered one of the safest railway networks in the world, with around 218,000 km of active rail network. EU commission is committed to make its rail network more convenient for passengers by introducing various laws, along with collaborating with private industry players to advance current networks. Rapid urbanization in developing countries of Europe, increase in investment in development, and surge in fast & reliable railway network are some of the key factors driving the growth of the rail signaling system market in region.

Rise in investments by government bodies and venture capitalists within the Europe railway signaling system market, coupled with collaborative approach of regional players is expected to support the market competitiveness during the forecast period. For instance, in December 2021, Siemens Mobility signed a contract with NMBS/SNCB, the Belgian National Railways to retrofit 390 trains and steering cars with European Train Control System (ETCS) Level 2 technology. Germany is promoting investment in high-speed railway projects, driving the demand for rail signaling systems in the country. For instance, in October 2020, German railway operator Deutsche Bahn announced to invest around $10 billion in enhancing its high-speed connections and expanding the dedicated train fleet. In addition, in January 2022, Alstom and Deutsche Bahn initiated testing of autonomous freight and passenger trains, which are to be introduced in Germany by 2023.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/railway-signaling-system-market/purchase-options

On the basis of end use, the global railway signaling system market has been segmented into mainline, urban, and freight. The urban segment is expected to experience significant growth during the forecast period. Urban rails and metros are connected with town or cities, which provide easy transportation for individuals. Urban rails require highly sensitive sensors and advanced signaling systems to operate within cities. Various supportive initiatives from government authorities to set up tram and metro infrastructure network is anticipated to create immense opportunities for the market expansion in the future. . In 2021, Siemens Mobility signed a contract to design, install and commission the first communications-based train control (CBTC) technology for the Malaysia and Singapore cross border link. 

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By offering, the services segment is anticipated to exhibit significant growth in the near future.

By technology, the communication-based train control system segment is anticipated to exhibit significant growth in the near future.

By end use, the urban segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/9150

Key players operating in the global railway signaling system market include Alstom SA, Angelo Holding SRL (MERMEC S.p.A.), Belden Inc., Cisco Systems Inc., Hitachi Ltd. (Hitachi Rail), IBM Corporation, Huawei Technologies Co. Ltd., Nokia Corporation, Siemens AG, and Wabtec Corporation.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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This release was published on openPR.