Air Traffic Control Market List of Key Players in Global Forecast by 2027 Fortune Business Insights™
The global air traffic control market size is predicted to reach
USD 9.45 billion by 2027, exhibiting a CAGR of 6.96% during the forecast
period. The growing cybersecurity threats in air traffic management will impel
the adoption of ATC systems, which in turn, will boost the market growth. The
modernization of airline fleet in different parts around the world will spur
opportunities for the market during the forecast period, states Fortune
Business Insights in a report, titled “Air Traffic Control Market Size, Share and Industry Analysis by
Point of Sale (Hardware, Software, and Services), By Airspace (Air Route
Traffic Control Centers (ARTCC), Terminal Radar Approach Control (TRACON), Air
Traffic Control Tower (ATCT), and Remote Tower (RT)), By Application (Communication,
Navigation, Surveillance, and Automation), By Airport Size (Small, Medium, and
Large), and Regional Forecast, 2020- 2027”
The air
traffic control market size stood at USD 8.90 billion in 2019 size is
predicted to reach USD 9.45 billion by 2027
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Market Driver:
Surge in Air Passenger Traffic to Promote ATC Employment
The development of cost-effective domestic flights by
airlines to better serve the snowballing travelers will subsequently foster the
growth of the market. The prospering aviation industry will create lucrative
business openings for the market in the forthcoming years. The rising passenger
preference for air travel will support the growth of the market. Moreover, the
increasing government funding for robust air transportation in the emerging
nations will contribute positively to the growth of the market. According to
the International Air Transport Association, an additional 44% of air passenger
traffic is expected to come from China and India in the next ten years. The
upgradation of existing ATC equipment systems to advanced automatic ATC systems
with an aim to enhance the overall efficacy of flight travels and diminish
ground-based accidents. This factor is likely to aid the air traffic control
market growth in the foreseeable future. In addition, the implementation of
artificial intelligence (AI) to increase operational efficiency and
productivity in ATC systems will further encourage the growth of the market.
Browse Summary of This Research:
https://www.fortunebusinessinsights.com/air-traffic-control-atc-market-102957
Regional Analysis:
Presence of Well-known Companies to Augment Growth in
North America
The market in North America stood at USD 3.15 billion
in 2019 and is expected to remain dominant during the forecast period owing to
the presence of major companies such as Raytheon Technologies, Honeywell
International Inc., Northrop Grumman Corporation, and others. The increasing
partnerships and acquisitions of key players can be another vital factor in
boosting the market in North America. For instance, in April 2020, the merger
between Raytheon Company and United Technologies Corporation to deliver
advanced technologies to the airports and defense authorities. Europe is
predicted to hold the largest share in the market during the forecast period
due to the growing investment in the modernization of conventional ATC systems
with technologically advanced real-time ATC systems. The escalating focus on
smart and green airports will accelerate the market in Europe. Asia Pacific is
predicted to grow rapidly during the forecast period owing to the rising air
passenger traffic at domestic airports and international airports in countries
such as India and China.
Key Development:
April 2019: Thales Group announced the acquisition of
Gemalto, aleader in international digital security services. The new
development of the company will strengthen the digital identity and security of
Thales Group besides, improving its position in the industry.
The Report Lists the Key Companies in the Air Traffic
Control Market:
- BAE
Systems (The U.S.)
- Cyrrus
Limited (The U.K)
- IndraSistemas,
S.A. (Japan)
- Honeywell
International Inc. (The U.S.)
- L3Harris
Technologies Inc. (The U.S.)
- Raytheon
Technologies (The U.S.)
- Saab
AB (Sweden)
- Leonardo
S.p.A (Italy)
- Thales
Group (France)
- Westminister
Group Plc. (The U.K)
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