New York, May 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Impact of COVID-19 on Air Traffic Control Market : Segmented :By Airspace, By Application, By Component, And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031" - https://www.reportlinker.com/p06272879/?utm_source=GNW
Air traffic control is an important service which is provided by ground-based air traffic controllers that helps the pilot to ensure the safety of aircraft in the take-off and landing operations. Air traffic control accelerates the flow of air traffic and guides the pilot of the various aircraft to avoid and prevent the collision by providing useful and supportive information to the pilots. Air traffic control also gives advisory services for the non-controlled airspace.
Market Highlights
Global Air Traffic Control (ATC) market is expected to project a notable CAGR of 5.7% in 2031.
The air traffic control market is expected to witness a steady rise due to an increase in tourism. In a hectic lifestyle, the passengers are choosing airplanes to reduce the traveling duration which is expected to drive the Air traffic control market shortly. The demand for air traffic control systems is rising, to avoid and prevent collisions of planes.
Global Air Traffic Control (ATC): Segments
ATCT segment to grow with the highest CAGR during 2021-31
Global Air Traffic Control (ATC) market is classified based on Airspace into ARTCC, TRACON, ATCT, RT. ATCT segment accounted for the largest market share of the global Air Traffic Control (ATC) market owing to the widespread growing demand for a greater number of ATCT towers in several countries. The major factor contributing to the growth of this segment is that provides a safe and expeditious flow of air traffic on the premises of an airport.
Hardware segment to grow with the highest CAGR during 2021-31
Based on Component, the global Air Traffic Control (ATC) Market is fragmented into Hardware, Software, Services. The hardware segment grasps the largest market share because of its rising demand for communication, surveillance, and navigation systems to avoid collision and manage air traffic. The usage of new and advanced hardware in the airport, in turn, is expected to increase the product demand over the coming years.
Market Dynamics
Drivers
Increasing Air Passenger Traffic
Increasing disposable income and improvement in living standards of consumers are expected to accelerate the growth of the air traffic control industry. The rising air passenger traffic due to globalization is expected to surge over the forecast period. Furthermore, the need for enhanced airspace management systems and an increasing number of airports across the world is expected to create new growth opportunities for the market player during the forecast period.
Technological advancements and implementation of the latest systems
In developing countries, technological advancements such as advanced surface movement ground control systems, performance-based navigation, advanced integrated automation systems, and standard instrument departures is been quickly adopted in air traffic control systems is expected to accelerate the industry growth during the forecast period. Additionally, the increasing adoption of satellite-based air traffic control systems is expected to create lucrative opportunities for the players operating in the global market during the review period.
Restraint
Fluctuating prices of raw materials
Cyber security is one of the major issues faced by airports. Cyber threats for air traffic management increased due to digitalization and advancement in technology are estimated to hamper the growth of Air traffic control. Furthermore, factors such as high initial cost, lack of infrastructure, and lack of skilled personnel restrain the growth of the industry considerably.
Global Air Traffic Control (ATC): Key Players
Adacel Technologies Limited
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Bae Systems
Frequentis Ag
Indra Sistemas Sa
Leonardo S.P.A
Northrop Grumman Corporation
Raytheon Technologies Corporation
Saab Ab
Skysoft-Atm
Thales Group
Other Prominent Players
Global Air Traffic Control (ATC): Regions
Global Air Traffic Control (ATC) market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Asia Pacific Digital Air Traffic Control (ATC) market is expected to see remarkable growth during the forecasted period. Advancement in technology is expected to create a huge demand for Air traffic control in the forecast period. Other factors underpinning growth in the Asia Pacific Air traffic control market include increasing air traffic and a rise in the number of air passengers.
Impact of Covid-19 on Air Traffic Control (ATC) Market
During pandemics, the construction of new airports across the world has been stopped. Due to rising cases of Covid-19 patients, different countries have closed their international and domestic flights and have stopped their air traffic control facilities. Different manufacturing activities are interrupted due to a limited supply of components.
Global Air Traffic Control (ATC) is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Air Traffic Control (ATC) report also contains analysis on:
Air Traffic Control (ATC) Segments:
By Airspace
ARTIC
TRACTION
ACT
RT
By Application
Communication
Navigation
Surveillance
Automation
By Component
Hardware
Software
Services
Air Traffic Control (ATC) Dynamics
Air Traffic Control (ATC) Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Air Traffic Control (ATC) Market Report Scope and Segmentation
Report Attribute Details
The market size value in 2021 USD 9.3 billion
The revenue forecast in 2031 USD 16.3 billion
Growth Rate CAGR of 5.7% from 2021 to 2031
The base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Source Outlook, Application, Packaging, End-User and Region
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Adacel Technologies Limited, Bae Systems, Frequentis Ag, Indra Sistemas Sa, Leonardo S.P.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab Ab, Skysoft-Atm, Thales Group, and Other Prominent Players
Read the full report: https://www.reportlinker.com/p06272879/?utm_source=GNW
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