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Instrument Landing System Market Size, Share, Growth, Trends, Analysis, Forecast To 2033
Instrument Landing System Market Size
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
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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