Air Traffic Control Equipment Market
the Air Traffic Control (ATC) Equipment Market is evolving at an unprecedented pace. From managing increased air traffic to integrating advanced technologies The Air Traffic Control Equipment market is poised for substantial growth as the global aviation sector increasingly prioritizes safety and operational efficiency.”
— SNS Insider AUSTIN, TX, UNITED STATES, October 24, 2024 /EINPresswire.com/ -- The Air Traffic Control Equipment Market size was USD 9.56 billion in 2023 and is expected to reach USD 17.73 billion by 2032, growing at a CAGR of 7.10% over the forecast period of 2024-2032.
Innovative Air Traffic Management Solutions Set to Drive Growth in the Air Transport Sector Over the Next Two Decades.
Steady growth in this air transport sector will occur over the next two decades due to the need for higher security standards and cost-efficient exploitation. This has led to large governmental and aviation player investments in innovative air traffic management solutions combining advanced navigation systems, modern air traffic control technologies, and improved air-to-ground communication methods.
Prominent achievements are already in the works; for instance, in May 2023, Indra consolidated its position as a world leader in Air Traffic Management (ATM) through the opening of its U.S. subsidiary, Indra Air Traffic Inc. Additionally, advanced computers with complex software would further aid air traffic systems in enhancing the overall management of flows of traffic, which in turn will make routes through air more efficient and fuel-saving. This modernization is not merely a matter of increasing capacity but also that there be a level of automation, which will automatically reduce the size of future workforces in managing air traffic, opening vast market growth possibilities.
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Major The Key Players of Air Traffic Control Equipment Market
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 and other players.
The Future of Air Traffic Control Equipment Growth is driven by FAA Projections and Rising Global Air Travel.
The business case for air traffic control equipment is basically motivated by several key factors based on extrapolations from the Federal Aviation Administration, which indicates a robust growth in air traffic over the next 10 to 20 years. These plans and projections of the FAA modernization of the National Airspace System are based on such growth. Even though previous FAA predictions went wrong, there is a clear and crying need for current ATC facilities.
The increasing number of air travelers around the world is one other major factor propelling this market's growth. As more flights take to the skies, so too does the demand for sophisticated and efficient air traffic management systems. Some factors in developing economies and global demand include a rise in disposable incomes, globalization, and the boom in business travel. This means air traffic systems have to evolve into a new paradigm for handling complexities of modern aviation, including the monitoring of real-time data and predictive analytics toward optimized routes, reduced delays, and increased safety.
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Key Market Segments
By Product • Communications Equipment • Navigation Equipment • Surveillance Equipment
By Application • Commercial Aircraft • Private Aircraft • Military Aircraft
SEGMENT ANALYSIS
By Product
In 2023, the communication equipment market segment holds the leading position with a share of 38.05 percent. The reason for this is that air traffic control systems rely heavily on digital data communication in order to function efficiently. With growing concern over issues of vulnerability to cyber threats, the demand for modernization has created urgent pressure for the rapid replacement of the old communication systems.
The surveillance equipment segment is likely to expand at a strong CAGR of 7.24% during the forecast period. The number of airports and air travelers is increasing, demanding deployment of advanced surveillance systems for accurate monitoring of air traffic. As the international air travel market continues its growth, the demand for these advanced tools is apt to go up.
By Application
Commercial Aircraft-Commercial aircraft segment captured the largest share of 39.72% in 2023 because of the rise in international travel demand day by day. More a great deal, modernized air traffic control systems have become more important due to the specific nature of safety and efficiency in the case of increasing air traffic.
On the other hand, the private aircraft segment will demonstrate a marvellous CAGR of 7.59% over the forecast period. The demand for private flights among business heads and high-profile personalities, coupled with their requirements for flexible scheduling, hugely raises the demand for highly advanced air traffic management solutions for private aviation purposes.
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Regional Development: Asia-Pacific Steals the Limelight
The Asia-Pacific region remained the largest in 2023, at 34.07 percent, and continues to be encouraged by rapid economic growth and the increasing business and leisure travel. The expanding economies, particularly in the growing middle-class demographics of several countries, have further increased the disposable incomes and brought air travel within a more significant number of people's reach.
Forecasts look at a rebound by the Asia-Pacific aviation sector from the spread of the global pandemic and marks the sector with the highest growth rates in the world in the coming years. Along with increased airline passenger volumes, this region brings profitable opportunities for the Air Traffic Control equipment market; continued commitments towards infrastructure modernization and innovative technologies further support this point.
Recent Developments
February 2024: Embraer and Mahindra in India announced a partnership on the C-390 Millennium Medium Transport Aircraft in February 2024. The collaboration will be a big boost for advanced air mobility solutions in the region. Airbus is partnering with Total Energies to produce sustainable aviation fuels, an area that must be decarbonized at warp speed.
May 2023: Indra consolidated its position as a world leader in Air Traffic Management (ATM) through the opening of its U.S. subsidiary, Indra Air Traffic Inc.
Table of Contents 1. Introduction 2. Research Methodology 3. Market Dynamics 4. Impact Analysis 5. Value Chain Analysis 6. Porter’s 5 forces model 7. PEST Analysis 8. Air Traffic Control Equipment Market Segmentation, By Product 9. Air Traffic Control Equipment Market Segmentation, By Application 10.Regional Analysis 11 Company Profile 12.Competitive Landscape 13.USE Cases and Best Practices 14.Conclusion
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October 24, 2024, 13:00 GMT
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