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Train Control And Management Systems Market on Track to Hit $5.55 Bn by 2033! Analyze Market Share, Key Trends, Segments, and Growth Prospects
Train Control And Management Systems Market
As per the report, the train control and management systems market size has grown strongly in recent years. It will grow from $3.98 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The train control and management systems market size is expected to see strong growth in the next few years. It will grow to $5.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
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Train Control And Management System Market To Grow With The Expansion Of The Global Railway Sector
The growth in the railway sector around the globe is expected to propel the growth of the train control and management system market going forward. The railway sector refers to a sector that involves rail transportation and related sectors such as railroads, comprising tracks, tunnels, bridges, elevated rail, and magnetic levitation. Train control and management systems assist railways by performing tasks including real-time vehicle detection, inspection, and tracing of rail. For instance, in November 2021, according to the Office of Rail and Road, a UK-based non-ministerial government department responsible for the economic and safety regulation of Britain's railways, the rail industry generated $21.86 billion in revenue overall in 2020-21, an increase of 2.4% from 2019-20. Therefore, the growth in the railway sector across the globe drives the train control and management system market.
Innovative Frmcs Solution Enhances Efficiency And Fault Prediction Accuracy In Railway Operations
Technological advancements are a key trend gaining popularity in the train control and management system market. Companies operating in the train control and management system market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Huawei Technologies Co., Ltd., a China-based multinational technology corporation that operates in train control and management systems, launched the Future Railway Mobile Communication System (FRMCS) solution. This solution makes use of the 8T8R Smart MIMO innovative technology that supports new services such as locomotive status monitoring, train operation monitoring, and the visual dispatch of organization and management(O&M) personnel, thereby increasing fault prediction accuracy and efficiency.
The train control and management systems market covered in this report is segmented -
1) By Component: Vehicle Control Unit, Mobile Communication Gateway, Human Machine Interface
2) By Service: Consulting, System Integration And Deployment, Support And Maintenance
3) By Control Solution: Positive Train Control, Integrated Train Control
4) By Application: Metros, High-Speed Trains, Normal Trains
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Major companies operating in the train control and management systems market report are Alstom, Bombardier Inc., Siemens AG, Hitachi Ltd., Mitsubishi Electric Corporation, Strukton Rail, Wabtec Corporation, Toshiba Corporation, Thales Group, CAF Group, Selectron Systems AG, ABB Ltd., Knorr-Bremse AG, Indra Sistemas S.A., DXC Technology, Trimble Inc., Frequentis, Comau, Denso Wave Incorporated, Fanuc Corporation, Kawasaki Heavy Industries Ltd., Kuka AG, Nachi-Fujikoshi, Advantech, Ansaldo STS, Beijing Traffic Control Technology Co. Ltd., CRRC Corporation Limited, EKE-Electronics Ltd., General Electric, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Huawei Technologies Co. Ltd., Hyundai Rotem Company .
Contents of the report:
1. Executive Summary
2. Train Control And Management Systems Market Report Structure
3. Train Control And Management Systems Market Trends And Strategies
4. Train Control And Management Systems Market - Macro Economic Scenario
5. Train Control And Management Systems Market Size And Growth
…..
27. Train Control And Management Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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