Air Traffic Control Market size was valued at US$ 10.74 Bn in 2022 and the total revenue is expected to grow at a CAGR of 5.20% through 2023 to 2029, reaching nearly US$ 15.31 Bn. by 2029.
Air Traffic Control Market Overview:
Air Traffic Control Market Research Report investigated the current status of definitions, classifications, applications, and the industrial chain structure. The research provides impartial professional commentary on the present market state, prior market performance, production and consumption rates, demand and supply ratios, and forecast income generation predictions. The Air Traffic Control market study also includes information on the leading businesses participating in the Air Traffic Control sector’s strategic goals and company growth objectives. Mergers and acquisitions, government and corporate transactions, partnerships and collaborations, joint ventures, brand marketing, and product launches are among the tactics considered in the research. To summarise what has previously been said, the study provides a comprehensive picture of the Air Traffic Control sector in both global and regional markets.
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Air Traffic Control Market Dynamics
Tourism is growing at a rapid rate, which is driving up air traffic all around the world. Passengers prefer to go by plane since it saves time, so the market is looking up. As per the International Civil Aviation Organization, approximately 400 commercial airplane depart per hour around the world. With the increased popularity of air travel, this number is expected to rise in the future. Air traffic control systems are in high demand as a means of reducing plane crashes and tragedies, which is propelling the market forward.
Many emerging nations are planning to build additional airports to improve air travel within and across their borders. For example, as part of Prime Minister Narendra Modi's aim to make India a $5 trillion economy by the end of 2025, India plans to open 100 new airports by the end of 2024. This will consequently result in increased demand for air traffic control systems, increasing the market's growth.
COVID-19 Impact on Air Traffic Control market:
The COVID-19 epidemic has had a significant impact on the global Air Traffic Control industry. Air Traffic Control Production facilities have been halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led in a significant and extended drop in production utilisation, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Air Traffic Control market to decelerate in 2020. The negative impact of COVID-19 on the Air Traffic Control market, on the other hand, is expected to be brief, and the sector is expected to revive fast by early 2021, owing to robust demand for Air Traffic Control .
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Regional Analysis:
The region section of the research additionally covers important market influencing factors and changes in market regulation that have an influence on the market’s present and future trends. Some of the primary elements utilised to analyse the market scenario for various locales are new sales, replacement sales, national demography, regulatory activities, and import-export tariffs. Furthermore, while offering forecast analysis of national data, the existence and availability of global brands, as well as the challenges they face owing to strong or weak competition from local and domestic brands, as well as the impact of sales channels, are considered.
Air Traffic Control Market Segmentation:
by Airspace
1. AIR ROUTE TRAFFIC CONTROL CENTERS (ARTCC)
2. TERMINAL RADAR APPROACH CONTROL (TRACON)
3. AIR TRAFFIC CONTROL TOWER (ATCT)
4. REMOTE TOWER (RT)
by Application
1. Communication
2. Navigation
3. Surveillance
4. Automation
by Offerings
1. Hardware
2. Software & Solutions
3. Services
by Investment Type
1. Brownfield
2. Greenfield
by Airport Size
1. Large
2. Medium
3. Small
by Sector
1. Commercial
2. Defense
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Air Traffic Control Market Key players:
1. Advanced Navigation & Positioning Corporation Inc.
2. The Aeronav Group
3. BAE Systems plc.
4. Becker Avionics Inc.
5. Cobham Plc.
6. Frequentis AG
7. Global Eagle Entertainment Inc.
8. Indra Sistemas S. A.
9. Intelcan Technosystems, Inc.
10. Kongsberg Geospatial
11. L3Harris Technologies, Inc.
12. Lockheed Martin Corporation
13. Northrop Grumman Corp.
14. Raytheon Company
15. Searidge Technologies, Inc.
16. Sierra Nevada Corporation
17. Telephonics Corp.
18. Thales Group
19. Honeywell Inc.
The study includes a thorough examination of the Air Traffic Control market’s presence in various industries and countries. By doing a detailed geographical examination of the industry, the research analyst hopes to uncover hidden development potential that may be used by firms in various regions of the world. Global Air Traffic Control Market research gives precise information that helps market participants to compete successfully with their most important competitors in terms of growth, sales, and other critical factors. Significant market components such as market drivers and obstacles are distinguished from critical development prospects and industry trends in the research study.
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