The report provides an in-depth analysis of the "Air Traffic Control Equipment Market by product types (Communication, Navigation, and Surveillance), by Geography (North America, Europe, Latin America, Asia-Pacific, Middle East, andAfrica), and by Country. Forecast Analysis (2014-2020)", published by MarketsandMarkets, The ATC equipment market is projected to reach $5519.51 Million by 2020, growing at a high CAGR of 4.82% from 2014-2020. Air traffic is expected to be double in next 15 years. In current scenario, despite uncertain economic conditions, commercial aviation is experiencing continuous growth in aircraft movements.
Browse 58 market data Tables and 23 Figures spread through 134 pages and in-depth TOC on "Air Traffic Control Equipment Market".
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The increase in passenger traffic and aircraft movement has resulted into expansion of airports and construction of new airports to meet the future demand of air traffic. The airport construction and expansion need further ATC equipment, as well as its sub-systems to handle increased aircraft movements. Therefore, the construction of new airports and modernization of existing airports have been a real growth factor for the ATC equipment market. The restraints identified in the market include high cost and maintenance of the ATC equipment. The challenges faced by this market include lack of efficient operations at peak hours and lack of skilled labor.
Major factors driving the Air Traffic Control equipment market include construction of new airports, modernization of existing airports, increase in passenger & freight traffic, increase in aircraft movements, technological advancements, and high safety requirements. However, the high cost and maintenance of the ATC equipment will be a major restraint for the market.
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The report discusses key industry, market, and technology trends that influence the Air Traffic Control equipment market. The report tracks, analyzes, and lays out the market size of major regions including North America, Europe, the Middle East, Asia-Pacific, Latin America, and Africa. The report also provides the market share by product types namely, communication equipment, navigation equipment, and surveillance equipment. It provides an insight into regional trends on spending, analyzes market size by region, and also provides the data on the spending pattern by types.
The report offers leading competitors in the global Air Traffic Control equipment market; the general overview of companies, along with their financial position, key products, and market sizes. The key players in this market include Indra Sistemas, Thales Group, Raytheon, Lockheed Martin, and Harris Corporation.
Construction of new airports and modernization of existing airports acts as a major driver for the global Air Traffic Control equipment market. This is further aided by technological advancements, high safety requirements, and increase in passenger and freight traffic. High maintenance and operational cost are expected to restrict the market. The challenges faced by the market include lack of efficient operations in peak period and lack of skilled labor. Opportunities expected to drive the market further include NextGen transformation; a shift from ground-based navigation surveillance to satellite-based navigation surveillance.
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