Press release
Instrument Landing System Market Size, Key Drivers, Growth ,Analysis 2024-2033
Instrument Landing System Market
Instrument Landing System Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $6.14 billion In 2028 At A CAGR Of 7.6% :
The instrument landing system market size has grown strongly in recent years. It will grow from $1.7 billion in 2023 to $1.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to aviation safety improvements, regulatory compliance requirements, global air traffic growth, advancements in radio navigation, airport modernization projects, improved all-weather operations, military and civilian aviation integration.
The instrument landing system market size is expected to see strong growth in the next few years. It will grow to $2.33 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to reduction in landing delays, next-generation air traffic management, implementation of precision approach path indicators (papi), adoption of ground-based augmentation systems (gbas), global expansion of low-cost carriers, demand for sustainable aviation, enhanced cybersecurity measures. Major trends in the forecast period include transition to precision landing systems, integration of global navigation satellite systems (gnss), implementation of dual-frequency ils, upgradation of existing ils infrastructure, adoption of led technology in ils components, collaboration for standardization.
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Instrument Landing System Market Major Segments
The instrument landing system market covered in this report is segmented -
1) By Type: Category I, Category II, Category III
2) By Technology: light-Emitting Diode (LEDs), Incandescent Lamps
3) By Application: Civil Airport, Military Airport
Key Driver - Growing Air Traffic Boosts Instrument Landing System Market
The increasing air traffic is expected to propel the growth of the instrument landing system market going forward. Air traffic is the number of aircraft traveling in the air at one time. Due to reduced COVID-19 restrictions and the increased affordability of air travel, more people are traveling by air as compared to previous years. The increased air traffic increases the need for safer landings, which can be ensured by instrument landing systems. Therefore, the increasing air traffic drives the instrument landing system market forward. For instance, in 2022, according to the International Civil Aviation Organization (ICAO), an aviation agency of the United Nations, the number of passengers carried from January to April 2022 increased by 65% as compared to the same time period in 2021, and aircraft flight departures also increased by 30%. Therefore, the increasing air traffic is propelling the instrument landing system market forward.
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Prominent Trend - Technological Advancements Drive Innovation In The Instrument Landing System Market
Technological advancements are a key trend gaining popularity in the instrument landing system market. Major companies in the market are launching new technologies to sustain their position in the market. For instance, in October 2021, Safran Landing Systems, a France-based designer and manufacturer of aircraft landing gear, wheels, and breaks, launched 'Landing Life' a single brand for providing a one-stop solution related to landing gears, breaks, wheels, and associated systems. The three main goals of Landing Life are to keep aeroplanes in the air, lower the total cost of ownership, and encourage the sharing of knowledge in order to improve the user experience and customer satisfaction. Using the solution, consumers can request emergency assistance in AOG (Assistance On Ground) situations, search for information about landing, and request other landing assistance. Additionally, Landing Life offers brand-new digital services that make it easier for customers to contact the company's experts, like ""Expert Link,"" a video assistance app that enables customers' technicians to speak with Safran Landing Systems' support teams via a tablet or even just a smartphone to discuss any problems they may be experiencing. All communications, whether on the runway or in the store, take place over a secure network.
Instrument Landing System Market Players
Major companies operating in the instrument landing system market report are Thales Group, Collins Aerospace, Honeywell International Inc., Universal Avionics Systems Corporation, Calzoni SRL, ADB Safegate BVBA, Multi Electric Manufacturing Inc., Airport Lighting Specialists, ATG Airports Limited, Astronics Corporation, Saab AB, Advanced Navigation & Positioning Corporation, Systems Interface Limited, L3Harris Technologies Inc., Lufthansa Systems GmbH & Co. KG, NEC Corporation, Indra Navia AS, API Technologies Corp., Liberty Airport Systems Inc., Azimut JSC, BAE Systems plc, Cobham plc, AUBO Robotics, Frequentis AG, Harris Corporation, Intelcan Technosystems Inc., Leonardo S.p.A., Northrop Grumman Corporation, Raytheon Company, Rockwell Collins Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the instrument landing system market in 2023. The regions covered in the instrument landing system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Instrument Landing System Market Report Structure
3. Instrument Landing System Market Trends And Strategies
4. Instrument Landing System Market - Macro Economic Scenario
5. Instrument Landing System Market Size And Growth
…..
27. Instrument Landing System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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