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DUBLIN--(BUSINESS WIRE)--Oct 31, 2022--
The "Global Air Traffic Control Equipment Market Research and forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global air traffic control equipment market is growing at a CAGR of 5.2% during the forecast period. The increasing demand for effective air traffic control management systems lead to growth.
Additionally, rising investment in aviation, the presence of multiple aircraft fleets, and a shift towards satellite navigation are also estimated to be the major factors that are contributing significantly towards the growth of the market. However, the increase in cyber threats and high costs involved related to air traffic control are the major factors constraints that are hindering the growth of the global air traffic control equipment market.
Moreover, many emerging countries are going through the planning process in order to develop new airports to provide improved air transportation across the country which is also creating opportunities in the market. For instance, India's aviation market is extending at the highest pace as the country is planning to increase the number of airports to 150 and 200 by 2035, reaching they're with presently having 100 airports.
Segmental Outlook
The global air traffic control equipment market is segmented based on types of devices, by applications, and by end-users. By types of devices, the market is segmented into radar devices, simulator devices, and proximity devices. Based on the applications segment, the market is segmented into communication, navigation, and surveillance. Further, based on end-users, the market is segmented into commercial and cargo aircraft, defense aircraft, and private aircraft.
Based on applications, communication hold a significant share in the market. This owing to the growing air traffic, rising investment in technological advancement equipment with regards to communication at airports. Additionally, the replacement of obsolete equipment with a fresh one, along with the strengthening of digital data communication is also supporting the growth of the segment in the market. However, due to ineffective working in airspace, which has led to the development of advanced communication equipment with a large investment.
For instance, in May 2018, Harris Corp. had received a contract of $141 million from the Airports Authority of India (AAI) in order to modernize the air traffic management (ATM) communication infrastructure of India. Harris Corp. along with AAI will work together as partners in order to migrate telecommunication services that are hundreds in number onto the network. This will support the authorities to operate and maintain the system that will enable a quick response to potential outages along with providing reliability and strength in the network. Under this plan, Harris will upgrade 91 sites for ATC operations.
Regional Outlooks
The global air traffic control equipment market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America held a considerable share in the air traffic control equipment market.
Some factors that are boosting the market growth in North America include large airports, cohesive government policies, and bringing modernization in equipment that is used in improving the efficiency of air traffic. Further, the Federal Aviation Administration (FAA) within the US had set forth a set of new rules and laws for the purpose of identification along with tracking of drones. In the commercial aviation industry, these new rules and laws are considered with regards to brings of balancing safety requirements with enforcement of the law.
Asia-Pacific will have Considerable Growth in the Global Air Traffic Control Equipment market
Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing initiatives for developing efficient and effective infrastructure, continuously growing number of passengers that are traveling through air transportation are supporting the growth of the market in the region. Further, focusing on upgrading their technology related to airports will result in accommodating the growing air traffic in these countries of the Asia-pacific region.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/424k1l
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KEYWORD:
INDUSTRY KEYWORD: TECHNOLOGY AIR HARDWARE TRANSPORT
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/31/2022 06:31 AM/DISC: 10/31/2022 06:32 AM
http://www.businesswire.com/news/home/20221031005370/en