global air traffic control market is projected to reach $11.50 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027.
PORTLAND, OREGON, UNITED STATES, October 25, 2023 /EINPresswire.com/ — Allied Market Research published a report, titled, “Air Traffic Control Market by Airspace (ARTCC, TRACON, ATCT, and Remote Tower), Application (Communication, Navigation, Surveillance, and Automation), Offerings (Hardware, Software & Solutions, and Services), and Airport Size (Large, Medium, and Small), and Sector (Commercial, and Military & Defense): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global air traffic control industry generated $8.41 billion in 2019, and is estimated to generate $11.50 billion by 2027, witnessing a CAGR of 4.1% from 2020 to 2027.
𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚:- https://www.alliedmarketresearch.com/request-sample/5323
At present, the U.S. dominates the market, followed by Mexico and Canada in North America. However, Canada is expected to grow at a higher CAGR during the forecast period. In addition, in 2019, China led the market in the Asia-Pacific region followed by India, Japan, Australia and rest of Asia-Pacific countries.
Factors such as rise in number of airports, need of better airspace management systems, and increase in number of passengers are driving the air traffic control (ATC) market growth. However, potential risk of cyber threat, and high cost of ATC systems are expected to impede the stated air traffic control market growth.
Most of the travelers across the globe prefer to travel by air than other conventional modes of transportation such as road, and sea as it is the safest and fastest mode of transportation with fewest cancelled flights. This makes the air travel more reliable than others and also offers comfortable experience during the journey. Though air travel is expensive, customers prefer travelling by air owing to rise in disposable income.
Further, in accordance with the data released by international civil aviation organization (ICAO), 4.3 billion passengers were carried by airlines in 2018. Moreover, the number of airline passengers is expected to cross 10.0 billion by 2040, which will create the need for additional airports across the globe. This in turn is expected to supplement the growth of the global ATC market.
The air traffic control system at any airport constitutes 20% – 50% of the overall running cost of the airport. In addition, various governments are spending heavily to install air traffic control towers (ATCT) enhance air traffic management. For instance, Delhi IGI Airport is now equipped with the India’s tallest ATC tower with 102 meters of height. This installation is expected to help smoothen the traffic flow at the busiest airport. Further, the total cost of setting up the new ATC tower and its facilities was around $50 million. Therefore, high cost of ATC systems may hinder the growth of the global air traffic control market.
𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮:- https://www.alliedmarketresearch.com/purchase-enquiry/5323
Further, hackers/ attackers can take the advantage of the software vulnerabilities so as to exploit ATC systems, which in turn can result in air traffic fatalities. In addition, in line with the report released by the U.S. Government Accountability Office (GAO), the cybersecurity weakness can lead to extreme disruptions and undermine the safety of the nation’s ATC system.
Hence, to avoid such cyber-attacks, cyber security in air traffic management (ATM) needs to be prioritized. This requires companies and regulators to focus more on the technological solutions as well as potential applications of artificial intelligence (AI) and blockchain to avoid the potential risk of cyber threat. Such potential risk of cyber threat is expected to hamper the growth of the air traffic control market.
Based on region, LAMEA, followed by North America, is estimated to register the fastest CAGR of 6.2% from 2020 to 2027, owing to rise in passenger traffic through the Middle East region and construction of new airports. However, Asia-Pacific accounted for more than one-third of the global air traffic control market in 2019, and is expected to continue its lead during the forecast period. This is due to surge in air passenger traffic and modernization of existing airports.
Leading market players
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
𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: – https://www.alliedmarketresearch.com/air-traffic-control-equipment-market/purchase-options
Key Findings Of The Study
By airport size, the medium airport segment generated the highest revenue in 2019.
By region, LAMEA is anticipated to exhibit the highest CAGR during the forecast period while considering the air traffic control market growth.
By offerings, the hardware segment dominated the global market in terms of revenue in 2019.
Middle-East leads the ATC market in the LAMEA region.
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 –
Air Traffic Management Market – https://www.alliedmarketresearch.com/air-traffic-management-market-A07104
Air Traffic Management Hardware Market – https://www.alliedmarketresearch.com/air-traffic-management-hardware-market-A09047
Air Traffic Management Software Market- https://www.alliedmarketresearch.com/air-traffic-management-software-market-A09048
David Correa
Allied Analytics LLP
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