Global Air Traffic Control (ATC) Equipment Markets 2020-2021 & 2027 - The Rise of Smart Airports Emphasizes Modernization Programs
Dublin, Sept. 01, 2021 (GLOBE NEWSWIRE) -- The "Air Traffic Control (ATC) Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global market for Air Traffic Control (ATC) Equipment estimated at US$5 Billion in the year 2020, is projected to reach a revised size of US$6.7 Billion by 2026, growing at a CAGR of 5.2% over the analysis period.
Air traffic control (ATC) equipment is used in aviation industry to help in navigation and enable synchronized take-off and landing operations of aircraft. In addition to well-organized operations, ATC Equipment is used to avoid collisions and air-related accidents as well. Increasing traffic of freight and air passengers is resulting in increased aircraft activities and the need to construct new airports.
Increasing needs to modernize existing airports and construction of new facilities are expected to drive Air Traffic Control (ATC) equipment growth over the next few years. High safety requirements and technological improvements in aircraft components are expected to boost ATC equipment demand. New generation technology concepts such as Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) would continue to broaden the technical capabilities of ATC equipment.
Communications Equipment, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$3.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Navigation Equipment segment is readjusted to a revised 4.5% CAGR for the next 7-year period.
This segment currently accounts for a 25.7% share of the global Air Traffic Control (ATC) Equipment market. Communications infrastructure especially has been a key focus area for investments in the aviation industry, given its role in sharing vital information between air traffic management systems, both at national and international level. Given the spate of recent air mishaps, delivery of safe air travel services is now even more dependent on timely and reliable information exchange between air traffic controllers and pilots, thereby driving the market opportunities for ATC communications equipment.
The U.S. Market is Estimated at $1.4 Billion in 2021, While China is Forecast to Reach $1.4 Billion by 2026
The Air Traffic Control (ATC) Equipment market in the U.S. is estimated at US$1.4 Billion in the year 2021. The country currently accounts for a 27% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.4 Billion in the year 2026 trailing a CAGR of 8.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period. Established aviation industry and sustained emphasis on aircraft safety and solving airport congestion, have a major bearing on widespread adoption of ATC equipment in the developed world.
Increased aviation activity in developing markets in the form of increased air travel, as a result of years of strong economic development, has been generating strong demand in the global ATC equipment market. Continued focus on the establishment of new airports, and increasing focus of ANSPs and ATSPs on enhancing the efficiency, and reducing cost of air traffic control for airlines, which call for increased adoption of next-generation ATC and Air Traffic Management (ATM) solutions, will drive growth in developing countries.
Surveillance Equipment Segment to Reach $1.4 Billion by 2026
In the global Surveillance Equipment segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$781.6 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$190.7 Million by the year 2026, while Latin America will expand at a 5.5% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
An Introduction to Air Traffic Control (ATC) Equipment
ATC Equipment: Current Market Scenario and Outlook
While Developed Regions Remain Major Revenue Contributors, Developing Regions Emerge as Fastest Growing Markets
Market Fortunes Intrinsically Tied to Health of the Global Economy
Competitive Scenario
Aerospace Majors Dominate the Market
ATC Equipment from Select Manufacturers
Recent Market Activity
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
Advanced Navigation & Positioning Corporation Inc. (USA)
The Aeronav Group (Canada)
BAE Systems plc (UK)
Becker Avionics Inc. (USA)
Cobham Plc (UK)
Frequentis AG (Austria)
Global Eagle Entertainment Inc. (USA)
Indra Sistemas S. A. (Spain)
Intelcan Technosystems, Inc. (Canada)
Kongsberg Geospatial (Canada)
L3Harris Technologies, Inc. (USA)
Lockheed Martin Corporation (USA)
Northrop Grumman Corp. (USA)
Raytheon Company (USA)
Searidge Technologies, Inc. (Canada)
Sierra Nevada Corporation (USA)
Telephonics Corp. (USA)
Thales Group (France)
3. MARKET TRENDS & DRIVERS
Growing Commercial Aviation Industry Presents Steady Opportunities
Rise in Passenger Traffic Bodes Well for the Market
Population Explosion, Emerging Middle Class & Urban Sprawl: The Megatrends Driving Air Travel
Anticipated Rise in Freight Volume Augurs Well for the Market
Spurt in Number of New Airlines & Low Cost Carriers Creates Business Case for ATC Equipment
Modernization, Upgradation and Restructuring Needs Sustain Market Demand
The Rise of Smart Airports Emphasizes Modernization Programs
Emergence of New Generation Aircraft: Another Major Factor Fueling Upgradation Needs
Critical Importance of Aircraft Safety & Solving Airport Congestion: Primary Growth Drivers
Consolidation, Relocation & Remote Towers: Reshaping the ATC Landscape
Dependence on Automation Systems Continues to Escalate in ATC Ecosystem
Automation Systems Gain Traction Offering Efficiency Benefits
Technology Developments Bring Forth Advanced Systems, Driving Overall Growth
NextGen ATC and Advanced ATM Systems Come to the Fore
VoIP: A Fast Growing Technology for ATC
Innovative ADS-B ATC Technology Gains Popularity
Select Technological Advancements and Innovations in the ATC Equipment Space
Resolving Prevailing Issues & Challenges: Critical for Future Success of the Market
High Operational and Maintenance Costs
Lack of Skilled Labor
Technical Challenges
ATC Communications Equipment
ATC Navigation Equipment
ATC Surveillance Equipment
Integrated Global Surveillance and Guidance System (IGSAGS): The New Age ATC Equipment
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
Modernization & Replacements to Drive Growth in the Market
Improving Commercial Aviation Sector to Sustain Demand Prospects for ATC Equipment
Increasing Safety-Awareness Encourages ATC Equipment Market
Next Gen ATC Equipment on Fast Track
Challenges Impede Implementation of NextGen Programs
FAA to Develop Funding Mechanism
FAA in a Joint Effort with EC to Improve ATC Systems on Transatlantic Route
FAA to Use Automatic Dependent Surveillance-Broadcast
Privatization of ATC Expected to Lift US Airport Industry to Greater Heights
Exhibit 18: Overview of Air Traffic Control Models in Major Countries
CHINA
The Aviation Industry
ATC Market - An Overview
Extensive Development Plans Bode Well for ATC Market
China - A Major Import Market for ATC Equipment
RUSSIA
Growing Commercial Aviation Sector Boosts Prospects for ATC Equipment
Russia Undertakes Massive Rationalization Program
ASIA-PACIFIC
Asia-Pacific Aviation Market in a Nutshell
Booming Commercial Aviation Sector Offers Plenty of Opportunities for ATC Market
III. MARKET ANALYSIS
IV. COMPETITION
Total Companies Profiled: 59
For more information about this report visit https://www.researchandmarkets.com/r/h9svdn
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