Air Traffic Control Global Market Projected to Experience a Growth Rate of 5.6% CAGR, Reaching over $11.55 Billion By 2028 | Thales Group, Frequentis AG, Saab AB, Leonardo S.p.A, Aeronav Group

"The new report published by The Business Research Company, titled ""Air Traffic Control Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the air traffic control market size has grown strongly in recent years. It will grow from $8.76 billion in 2023 to $9.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The air traffic control market size is expected to see strong growth in the next few years. It will grow to $11.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.

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Taking Flight Global Tourism Surge Drives Growth In The Air Traffic Control Market
The increasing global tourism is expected to drive the air traffic control market. Tourism is the activity of spending some time away from home for relaxation, recreation, and pleasure. Air travel is the most preferred option due to its comfort and time-saving nature. This demand increases air traffic and the need for managing air traffic across the aerospace sector. For instance, in 2022, according to the World Tourism Organization, a specialized agency of the United Nations, international tourist arrivals increased by 172% from January to July compared to the same period in 2021. The tourism sector recovered to almost 60% of the pre-pandemic level. Approximately 474 million tourists travelled internationally from January 2022 to July 2022, compared to 175 million in the same months in 2021. Furthermore, in August 2022, a report by the World Travel Tourism Council, a UK-based forum for the travel and tourism industry, stated that following a devastating 50.4% drop in the sector's contribution to the global economy, travel, and tourism recovered by 21.7% in 2021. Therefore, increasing tourism will propel the air traffic control market.

Sky-High Innovations Eurocontrol Muac And Indra Spearhead Technological Advancements In Air Traffic Control
Technological advancements and the application of cutting-edge systems is a key trend gaining popularity in the air traffic control market. Major companies in the market are introducing new technologies for automated data transfer with aircraft for effective and accurate traffic management. For instance, in June 2022, Eurocontrol MUAC, a Netherlands-based company managing the traffic of upper air space of Belgium, the Netherlands, Luxembourg, and Northwestern Germany, in partnership with Indra, a Spanish technology and consulting company, launched ATN Automatic Dependent Surveillance Contract system (ADS-C) to automate the data exchange with the aircraft to ease the air traffic management process. The new system transmits data via the Aeronautical Telecommunications Network (ATN), a sophisticated global information highway useful for ground-to-ground and ground-to-air communications. This technique allows the controller to establish electronic contracts with aircraft and receive data on crucial factors such as route and altitude, among other things. Indra's ADS-C system will also help increase interoperability with other control centers by contributing to new algorithms for the Arrival Management System (XMAN), which will directly influence traffic flow and aircraft punctuality across the continent.

The air traffic control market covered in this report is segmented -
1) By Point of Sale: Hardware, Software, Services
2) By Airport Size: Small, Medium, Large
3) By Airspace: Air Route Traffic Control Centers (ARTCC), Terminal Radar Approach Control (TRACON), Air Traffic Control Tower (ATCT), Remote Tower (RT)
4) By Application: Communication, Navigation, Surveillance, Automation

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Major companies operating in the air traffic control market report are Raytheon Technologies Corporation, BAE Systems plc, Thales Group, Indra Sistemas S.A., Frequentis AG, Harris Corporation, Adacel Technologies Ltd., Leonardo S.p.A, Honeywell International Inc., Northrop Grumman Corporation, Saab AB, SkySoft-ATM, NAV Canada, Searidge Technologies Inc., NATS Holdings Limited, Telephonics Corp., The Aeronav Group, Becker Avionics Inc, L3Harris Technologies Inc., Atech Negocios em Tecnologias S/A, COMSOFT Solutions GmbH, Intelcan Technosystems Inc., Lockheed Martin Corporation, Serco Group plc, Slovenia Control, Finavia Corporation, Aeronav Group, Airservices Australia, Irish Aviation Authority, Swiss International Air Lines Ltd.

Contents of the report:
1. Executive Summary
2. Air Traffic Control Market Report Structure
3. Air Traffic Control Market Trends And Strategies
4. Air Traffic Control Market - Macro Economic Scenario
5. Air Traffic Control Market Size And Growth
…..
27. Air Traffic Control Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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