Air Traffic Control Equipment Market
Air Traffic Control Equipment Market Size was valued at USD 8.5 billion in 2022. The air traffic control equipment market industry is projected to grow from USD 8.925 Billion in 2023 to USD 13.1863 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032).
The air traffic control equipment is used to manage the airspace traffic; a service provided by ground-based air traffic controllers through the pilots is guided to manage the airline or aircraft and ensure the safety of the aircraft. The use of air traffic control is very necessary for airspace services, as it will avoid collision between different aircraft. Recently there has been an increase in air travel which makes it important for air travel services to maintain safety and security. The air traffic control equipment is used in military missions, for commercial purposes, and in aircraft operations. The major role of air traffic control is to manage air traffic and supports the pilots while operating the aircraft. With the growing need for aircraft, airbus signed a contract with the indigo partners to deliver 430 aircraft worth USD 50 billion. In 2017, more than seventy new airlines were established around the globe due to the increasingly high demand for passengers. The continuous rise of passenger traffic and demand for new aircraft will enhance the growth of the Air Traffic Control Equipment Market in the forecast period. The government of developed and developing countries is trying to increase the technology in several airports due to the increasing number of air passengers. They will further improve the Growth. In the forecast period of 2018 to 2023, the market will register a CAGR of 6%. The Size will increase in the forecast period.
Recent market development
The new air traffic control tower at RSW is ready to start keeping an eye on the growing number of flights at the airport. From next year they will use it.
Honeywell launched the next generation of its Honeywell NAVITAS software suite platform, a System of Systems (SoS) offering to help airport operators and air navigation service providers make more informed and accurate decisions.
Chief variables existing in the market
Key market drivers
The increasing travel in each country over the past few years is expected to drive the market's growth. As the air traffic increases, the demand for air traffic control equipment also increases, driving the market in the forecast period. The increasing safety in aircraft and government orders for airport modernization and improvement of technologies in the air travels enhance the market's growth. It is expected the drives would improve the Air Traffic Control Equipment Market Share in the forecast period. Several authorities are improving the use of aircraft surveillance in the aviation industry to increase the market's growth.
Market challenge
Air traffic control equipment is a new and innovative technology that requires high-quality materials and a skilled workforce. The cost of the equipment is high as the growing demand for less cost equipment is increasing. It becomes a challenge for the market to make it cost-effective. Improving the air traffic control equipment due to the threat of cyber security becomes a challenge for the market. The impact of Air Traffic Control Equipment Market value is based on the market challenges.
Opportunities in the global market
New product development in remote and digital towers needs artificial intelligence in the military and navy sectors. Developing a satellite-based air traffic control system would open opportunities for the market in the forecast period. For the new market players, the improvisation of the airports and the need for new aircraft would open new opportunities for the market's revenue.
Restrains
Recently with the growing technology in different sectors like the use of information and communication technology in air traffic management and the use of different control systems in the aircraft improves the threat of cyber security, which leads to loss of sensitive data and becomes a market restrain for the air traffic control equipment market. The high cost of traffic control equipment would significantly decrease market growth. The lack of skilled professionals is also a restrain for the market.
Competitive Intensity in The Market
The competitive intensity of the market shows the competition of different Air Traffic Control Equipment Market Players in the air traffic control equipment market. There are several market players in every region driving the market's growth. The key market players would improve the market's growth rate in the forecast period. According to Air Traffic Control Equipment Market Outlook, the prominent market players are
- Harris Corporation in the US
- BAE Systems PLC in the UK
- Cobham in the UK
- Indra Sistemas in Spain
- Thales Group in France
- ADB Safegate in the US
- Searidge Technologies in Canada
- Raytheon Company in the US
- Aeronav Inc. in Canada
- and Aquila Air Traffic Management Services in the UK
Cumulative evaluation of the market
According to Air Traffic Control Equipment Market trends, the market will enhance in the forecast period. Cumulative evaluation of the market shows the market's growth in the forecast period with the market growth factors. The air traffic control equipment is a tremendous product for aircraft and airspace management, improving aircraft security and reducing the aircraft's collision. With the growing traffic for air travel, it becomes important to use air traffic control equipment. Different market drivers and opportunities will improve the market growth and open up new opportunities for the market. Restrains and challenges may negatively impact the air traffic control equipment market.
Overview of the main market segments
By equipment type
Based on type, the air traffic control equipment is segmented into communications equipment, navigation equipment, and surveillance equipment. The surveillance segment held the largest market share in 2017 due to the growing technology in aircraft. The continuous increase of passenger traffic needs surveillance for aircraft safety, which increases the segment's growth. It is expected that the communication equipment segment will register the highest market share in the forecast period. As the number of aircraft increases, it becomes important for aircraft to maintain better communication facilities for the smooth run of aircraft.
By end-user
The segment end-user of the air traffic control equipment market is divided into commercial and military. With the growing number of passengers in commercial airlines, the commercial sector would witness the highest market share in the forecast period. The commercial segment also held the highest CAGR in 2017. The military segment is expected to witness growth in the forecast period.
Regional analysis
The market has been spread in North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. The dominance of major players like harris corporation, Raytheon company, etc., in the North American region, improves the overall market growth. In 2017 North America held the largest market share due to the growing development in Canada and USA. By 2035, it is expected that approximately 10,000 new aircraft will be in service in the region. With the growing passenger traffic, the regions India and China is planning to improve the airport infrastructure to make it better for the passenger, due to which it is expected that the Asia Pacific region will surpass every region and increase the market in the forecast period. Air Traffic Control Equipment Market forecast shows each region will improve in market size shortly.
Air Traffic Control Equipment Market Research Report: Information by Equipment Type (Communications Equipment, Navigation Equipment, Surveillance Equipment), by End-User (Commercial, Military), and by Region — Global Forecast till 2030
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