Pune, July 17, 2024 (GLOBE NEWSWIRE) -- Air Traffic Control (ATC) Equipment Market Size Analysis:
“As per the SNS Insider Research, The Air Traffic Control (ATC) Equipment Market size was valued at US$ 9.56 Billion in 2023, and is estimated to reach US$ 17.73 Billion by 2032 with a growing CAGR of 7.10% over the forecast period 2024-2032.”
Growth in Air Traffic Fuels Demand for Advanced Air Traffic Control Equipment
The Air Traffic Control Equipment Market is currently thriving due to the growing intensity of air traffic, both for commercial and private purposes. First, the number of aircraft is growing, meaning that modern ATC gear is required to manage a greater volume of traffic within the existing infrastructure. Furthermore, since the number of vehicles in the air is constantly increasing and the number of passengers following the trend, airports and other ATC authorities have no other choice but to bring their equipment up-to-date in order to accommodate the demand. These reasons primarily relate to the recent trends in the aviation industry, which well established and constantly growing. Redistribution of the economic flow boosts trade, and modern tourism trends encourage people to travel more in connection with work, holidays, and private trips. At the same time, reformation of the equipment is required in order to cater to the tendency.
In addition to that, the advent of modern technologies that enhance the performance of the existing equipment influences the Air Traffic Control Equipment Market. The use of artificial intelligence, machine learning, and data processing capabilities in managing an environment is relatively new but quite advantageous, as it allows monitoring of the airspace condition in real-time, prediction of traffic intensity and composition with relative analytics, and providing the new data to the operator, whose decision-making processes become faster and more precise. The demands also closely correlate with the global trend towards ecological sustainability, where air traffic control equipment has made a direct contribution to fuel and emissions optimization.
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Major Players Analysis Listed in this Report are:
- Cobham Limited
- Advanced Navigation and Positioning Corporation
- BAE Systems
- Endeavor Business Media, LLC.
- L3Harris Technologies, Inc.
- Intelcan Technosystems Inc
- Lockheed Martin Corporation
- Indra
- Northrop Grumman
- Verdict Media Limited.
- RTX
- Thales
- Searidge Technologies
- Other Players
Air Traffic Control Equipment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | US$ 9.56 Bn |
| Market Size by 2032 | US$ 17.73 Bn |
| CAGR | CAGR of 7.10% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers | • The emergence of FAA forecasts refers to the Federal Aviation Administration's development of predictive models to anticipate future trends and demands in air traffic, aviation safety, and airport infrastructure. • The global surge in air travel is a primary driver. As the number of flights grows, the need for advanced and efficient air traffic control systems becomes imperative. |
Increasing Demand and Market Scope
The Air Traffic Control Equipment Market is witnessing a rise in demand for multiple reasons. Firstly, the aviation industry’s high-paced expansion, led by globalization and increasing disposable income, has seen a massive rise in air traffic. As a result, airports and air traffic control authorities are investing heavily to improve their infrastructure and equipment. Secondly, the airspace has grown more complex, with more aircraft operating in proximity to one another. It is necessary to have advanced technology air traffic control systems. Thirdly, the acute attention given to sustainability concerns has given rise to operations that minimize fuel usage, meaning more and more people are adopting equipment that provides an optimal flight path. The final reason is the digitalization and, often, automation of the industry. Equipment manufacturers, therefore, have a larger market to cater to than ever before.
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Segmentation Analysis
In 2023, the market for advanced air traffic control equipment was dominated by the commercial aircrafts segment, with a 39.78% share in revenues. This increase can be largely accredited to the growing number of commercial flights, primarily resulting from the forces of globalization and higher disposable incomes.
The communication equipment segment held the largest market share in 2023, making up 38.05% of all market-generated revenues. Additionally, this increase seems to coincide with the rising importance of the communication systems as a constituent element in air traffic management that is in part caused by the need to update the existing ATM infrastructure.
Air Traffic Control Equipment Market Key Segmentation:
By Product
- Communications Equipment
- Navigation Equipment
- Surveillance Equipment
By Application
- Commercial Aircraft
- Private Aircraft
- Military Aircraft
Key Regional Development
Asia Pacific accounted for the largest market share of 34.07% in 2023. The Asia-Pacific region has been one of the fastest-growing economic regions in the world. This economic growth has increased business and leisure travel, increasing demand for air travel services. Expanding the middle class in countries across the region has increased disposable income and a greater ability to afford air travel. This has translated into higher passenger numbers for both domestic and international flights.
Regional Coverage
- North America (US, Canada, Mexico)
- Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe])
- Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific)
- Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East])
- Africa [Nigeria, South Africa, Rest of Africa]
- Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Recent Developments
In April 2023: Aerospace player Boeing had planted a major mile towards boosting sustainable aviation technology. The company has expanded its Eco Demonstrator program by introducing a range of ‘Explorer’ airplanes specially modified as part of its flight-testing activity. With this move, Boeing shows that it is committed to its path of developing advanced solutions for the aviation sector’s environmental issues.
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Key Takeaways
- The Air Traffic Control Equipment Market is experiencing robust growth driven by increasing air traffic and the need for advanced air traffic management systems.
- Asia Pacific is the largest and fastest-growing market, offering significant opportunities for market players.
- Technological advancements, such as artificial intelligence and machine learning, are transforming the market landscape.
- The focus on safety, efficiency, and environmental sustainability is driving demand for advanced air traffic control equipment.
- This report provides valuable information and analysis for industry stakeholders to capitalize on market opportunities.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Air Traffic Control Equipment Market Segmentation, By Product
8. Air Traffic Control Equipment Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. USE Cases and Best Practices
13. Conclusion
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