In a recent research report by Maximize Market Research, the Global Air traffic control Market is expected to surpass US $ 13.54 billion by the year 2027, from US $ 9.75 billion in 2020.
Global Air traffic control Market Trends
Despite a huge decline in the sales of products during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 4.8 %, during the tenure of 2021 – 2027.
As comparing to all other types of transportation, air transportation is regarded the safest. Furthermore, as the world’s population grows, demand for more airports to enable air travel in the east is expected to rise, propelling the air traffic control market to new heights. Furthermore, considerable investments are expected to be made to meet the need for new airports, particularly in the developing countries and areas.
The report published by Maximize encompasses the market dynamics, which could affect the market growth of Valve Driverin the region, the Value – Chain analysis, and the PORTER’s analysis for the Valve Drivermarket at a global level.
The study is consolidated on the basis of segments and further into sub-segments by airspace (AIR ROUTE TRAFFIC CONTROL CENTERS (ARTCC), TERMINAL RADAR APPROACH CONTROL (TRACON), AIR TRAFFIC CONTROL TOWER (ATCT), and REMOTE TOWER (RT)), by application (Communication, Navigation, Surveillance, and Automation), by offerings (Hardware, Software & Solutions and Services), by investment type (Brownfield and Greenfield), by airport size (Large, Medium and Small),and by sector (Commercial and Defense).
Based on Offerings, The hardware segment held the largest market share of 70% in 2020. The significant proportion can be attributed to the growing demand for telecommunication, surveillance, and navigation systems in order to avoid collisions and preserve air traffic flow. During the forecast period, the global market of communication hardware is expected to grow due to the updating of voice and data services, as well as advancements in transmission and communications technologies. The market is progressing due to the adoption of advanced and innovative hardware in the airport.
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key players– Advanced Navigation & Positioning Corporation Inc., The Aeronav Group, BAE Systems plc., Becker Avionics Inc., Cobham Plc., Frequentis AG, Global Eagle Entertainment Inc., Indra Sistemas S. A., Intelcan Technosystems, Inc., Kongsberg Geospatial, L3Harris Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman Corp., Raytheon Company, Searidge Technologies, Inc., Sierra Nevada Corporation, Telephonics Corp., Thales Group, and Honeywell Inc.
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Air traffic control Market.”
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