Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Air Traffic Control (ATC) Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Air Traffic Control (ATC) Equipment Market to Reach $6.7 Billion by 2026
Global market for Air Traffic Control (ATC) Equipment estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$6.7 Billion by 2026, growing at a CAGR of 5.2% over the analysis period.
Increasing traffic of freight and air passengers is resulting in increased aircraft activities and the need to construct new airports. Increasing needs to modernize existing airports and construction of new facilities are expected to drive Air Traffic Control (ATC) equipment growth over the next few years.
High safety requirements and technological improvements in aircraft components are expected to boost ATC equipment demand. ATC equipment market would continue to gain traction from technology advancements and improvements. New generation technology concepts such as Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) would continue to broaden the technical capabilities of ATC equipment.
Communications Equipment, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$3.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Navigation Equipment segment is readjusted to a revised 4.5% CAGR for the next 7-year period.
This segment currently accounts for a 25.7% share of the global Air Traffic Control (ATC) Equipment market. Communications infrastructure especially has been a key focus area for investments in the aviation industry, given its role in sharing vital information between air traffic management systems, both at national and international level.
Given the spate of recent air mishaps, delivery of safe air travel services is now even more dependent on timely and reliable information exchange between air traffic controllers and pilots, thereby driving the market opportunities for ATC communications equipment.
The U.S. Market is Estimated at $1.5 Billion in 2022, While China is Forecast to Reach $1.4 Billion by 2026
The Air Traffic Control (ATC) Equipment market in the U.S. is estimated at US$1.5 Billion in the year 2022. The country currently accounts for a 27% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.4 Billion in the year 2026 trailing a CAGR of 8.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period.
Established aviation industry and sustained emphasis on aircraft safety and solving airport congestion, have a major bearing on widespread adoption of ATC equipment in the developed world. Increased aviation activity in developing markets in the form of increased air travel, as a result of years of strong economic development, has been generating strong demand in the global ATC equipment market.
Continued focus on the establishment of new airports, and increasing focus of ANSPs and ATSPs on enhancing the efficiency, and reducing cost of air traffic control for airlines, which call for increased adoption of next-generation ATC and Air Traffic Management (ATM) solutions, will drive growth in developing countries.
Surveillance Equipment Segment to Reach $1.4 Billion by 2026
In the global Surveillance Equipment segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$781.6 Million will reach a projected size of US$1.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$190.7 Million by the year 2026, while Latin America will expand at a 5.5% CAGR through the analysis period.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- An Introduction to Air Traffic Control (ATC) Equipment
- ATC Equipment: Current Market Scenario and Outlook
- While Developed Regions Remain Major Revenue Contributors, Developing Regions Emerge as Fastest Growing Markets
- Market Fortunes Intrinsically Tied to Health of the Global Economy
- Competitive Scenario
- Aerospace Majors Dominate the Market
- ATC Equipment from Select Manufacturers
- Recent Market Activity
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
- Advanced Navigation & Positioning Corporation Inc. (USA)
- The Aeronav Group (Canada)
- BAE Systems plc (UK)
- Becker Avionics Inc. (USA)
- Cobham Plc (UK)
- Frequentis AG (Austria)
- Global Eagle Entertainment Inc. (USA)
- Indra Sistemas S. A. (Spain)
- Intelcan Technosystems, Inc. (Canada)
- Kongsberg Geospatial (Canada)
- L3Harris Technologies, Inc. (USA)
- Lockheed Martin Corporation (USA)
- Northrop Grumman Corp. (USA)
- Raytheon Company (USA)
- Searidge Technologies, Inc. (Canada)
- Sierra Nevada Corporation (USA)
- Telephonics Corp. (USA)
- Thales Group (France)
3. MARKET TRENDS & DRIVERS
- Growing Commercial Aviation Industry Presents Steady Opportunities
- Rise in Passenger Traffic Bodes Well for the Market
- Europe Captures Largest Share of International Tourist Arrivals
- Air Travel Dominates International Tourism Industry
- Population Explosion, Emerging Middle Class & Urban Sprawl: The Megatrends Driving Air Travel
- Anticipated Rise in Freight Volume Augurs Well for the Market
- Spurt in Number of New Airlines & Low Cost Carriers Creates Business Case for ATC Equipment
- Low-Cost Long-Haul Airline Operators Worldwide
- Modernization, Upgradation and Restructuring Needs Sustain Market Demand
- The Rise of Smart Airports Emphasizes Modernization Programs
- Worldwide Smart Airport Investments (in US$ Million) for the Years 2018 through 2025
- Emergence of New Generation Aircraft: Another Major Factor Fueling Upgradation Needs
- Critical Importance of Aircraft Safety & Solving Airport Congestion: Primary Growth Drivers
- Consolidation, Relocation & Remote Towers: Reshaping the ATC Landscape
- Dependence on Automation Systems Continues to Escalate in ATC Ecosystem
- Automation Systems Gain Traction Offering Efficiency Benefits
- Technology Developments Bring Forth Advanced Systems, Driving Overall Growth
- NextGen ATC and Advanced ATM Systems Come to the Fore
- VoIP: A Fast Growing Technology for ATC
- Innovative ADS-B ATC Technology Gains Popularity
- Select Technological Advancements and Innovations in the ATC Equipment Space
- Resolving Prevailing Issues & Challenges: Critical for Future Success of the Market
- High Operational and Maintenance Costs
- Lack of Skilled Labor
- Technical Challenges
- Air Traffic Control Equipment: A Primer
- ATC Communications Equipment
- ATC Navigation Equipment
- ATC Surveillance Equipment
- Integrated Global Surveillance and Guidance System (IGSAGS): The New Age ATC Equipment
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/z5y23j
