Air Traffic Control Market to Rise Up to the US$ 11.50 Billion by 2027, and to Grow at a CAGR of 4.1%

Global air traffic control market was valued at $8.41 billion in 2019, is projected to reach $11.50 billion by 2027, registering a CAGR of 4.1% from 2020-2027.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 7, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, "Air Traffic Control Market Size, Share, Competitive Landscape and Trend Analysis Report, by Airspace, Application, Offerings and Airport Size and Sector : Global Opportunity Analysis and Industry Forecast, 2020-2027." the global air traffic control market was valued at $8.41 billion in 2019, and is projected to reach $11.50 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027. The research report offers quantitative and qualitative analyses of the overall market environment, focusing on key investment opportunities, top market segments, value chain analysis, market dynamics, regional outlook, and the competitive landscape.

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Rise in number of passengers, requirement of a better aerospace management system, and surge in number of airports drive the growth of the global air traffic control market. However, expensive ATC systems and potential threats from cyber-attacks hinder the market growth. On the other hand, implementation of the satellite-based air traffic control systems is expected to present new opportunities in the coming years.

At present, the U.S. dominates the market, followed by Mexico and Canada in North America. However, Canada is expected to grow at a higher CAGR during the forecast period. In addition, in 2019, China led the market in the Asia-Pacific region followed by India, Japan, Australia and rest of Asia-Pacific countries.

Factors such as rise in number of airports, need of better airspace management systems, and increase in number of passengers are driving the air traffic control (ATC) market growth. However, potential risk of cyber threat, and high cost of ATC systems are expected to impede the stated air traffic control market growth. Further, in accordance with the data released by international civil aviation organization (ICAO), 4.3 billion passengers were carried by airlines in 2018. Moreover, the number of airline passengers is expected to cross 10.0 billion by 2040, which will create the need for additional airports across the globe. This in turn is expected to supplement the growth of the global ATC market.

The global air traffic control market is segmented based on airspace, application, offering, airport size, sector and region. By airspace, the market is segmented into ARTCC, TRACON, ATCT, and remote tower segments. Further, the applications of ATC include communication, navigation, surveillance, and automation. Based on offerings, the market is segmented into hardware, software & solutions, and services. Moreover, the market is segmented based on airport size into large, medium, and small. By sector, the market is split into commercial and military & defense.

Based on airspace, the ATCT segment accounted for the largest share in 2019, contributing to nearly half of the global air traffic control market, and is expected to continue its dominant position in terms of revenue throughout the forecast period. This is attributed to its implementation as a mandatory aeronautical facility for the seamless and hassle-free day-to-day operations at the airports. However, the remote tower segment is expected to portray the highest CAGR of 7.2% from 2020 to 2027, owing to cost efficiency it offers at the airport by eliminating the requirement of building and maintaining control tower buildings and facilities.

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Based on application, the surveillance segment contributed to more than two-fifths of the global air traffic control market in 2019, and is expected to maintain its highest share throughout the forecast period. This is attributed to ability to discover any aircraft without usage of any on-board equipment for locating aircraft. However, the automation segment is expected to portray the highest CAGR of 6.8% during the forecast period. This is due to offering real-time data updates that assist in streamlining the overall flight plans and making collaborative decisions regarding surface movement.

Based on region, LAMEA, followed by North America, is estimated to register the fastest CAGR of 6.2% from 2020 to 2027, owing to rise in passenger traffic through the Middle East region and construction of new airports. However, Asia-Pacific accounted for more than one-third of the global air traffic control market in 2019, and is expected to continue its lead during the forecast period. This is due to surge in air passenger traffic and modernization of existing airports.

Further, hackers/ attackers can take the advantage of the software vulnerabilities so as to exploit ATC systems, which in turn can result in air traffic fatalities. In addition, in line with the report released by the U.S. Government Accountability Office (GAO), the cybersecurity weakness can lead to extreme disruptions and undermine the safety of the nation's ATC system. Hence, to avoid such cyber-attacks, cyber security in air traffic management (ATM) needs to be prioritized. This requires companies and regulators to focus more on the technological solutions as well as potential applications of artificial intelligence (AI) and blockchain to avoid the potential risk of cyber threat. Such potential risk of cyber threat is expected to hamper the growth of the air traffic control market.

The air traffic control system at any airport constitutes 20% - 50% of the overall running cost of the airport. In addition, various governments are spending heavily to install air traffic control towers (ATCT) enhance air traffic management. For instance, Delhi IGI Airport is now equipped with the India's tallest ATC tower with 102 meters of height. This installation is expected to help smoothen the traffic flow at the busiest airport. Further, the total cost of setting up the new ATC tower and its facilities was around $50 million. Therefore, high cost of ATC systems may hinder the growth of the global air traffic control market.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Adacel Technologies Limited, BAE Systems, Frequentis AG, Indra Sistemas SA, Leonardo S.p.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, SkySoft-ATM, and Thales Group.

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𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐑𝐞𝐯𝐢𝐞𝐰

The air traffic control market is projected to witness moderate growth rate, owing to growth in population along with increase in disposable income which will result into increase in the domestic as well as international flights. Companies in this industry are adopting various innovative techniques to provide customers with advanced and innovative feature offerings.

Experts also predict that the aviation industry is facing extreme high growth in air traffic, commercial flights as well as the military and defense flights. For example, European airspace records more than 33,000 flights per day. These figures will be doubled by the end of 2030 as per EUROCONTROL, European Organization for the Safety of Air Navigation.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

➢ By airport size, the medium airport segment generated the highest revenue in 2019.
➢ By region, LAMEA is anticipated to exhibit the highest CAGR during the forecast period while considering the air traffic control market growth.
➢ By offerings, the hardware segment dominated the global market in terms of revenue in 2019.
➢ Middle-East leads the ATC market in the LAMEA region.

Key Benefits For Stakeholders:

➢ This study comprises analytical depiction of the air traffic control market trends with current trends and future estimations to depict the imminent investment pockets.
➢ The overall potential is determined to understand the profitable trends to gain a stronger foothold.
➢ The air traffic control market analysis presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➢ The current growth and air traffic control market forecast is quantitatively analyzed from 2019to 2027 to benchmark the financial competency.
➢ Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the ATC market share.
➢ The study also comprises the air traffic control market opportunities, which help key players in decision making.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐀𝐌𝐑’𝐬 𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐯𝐞 𝐨𝐧𝐠𝐨𝐢𝐧𝐠 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 & 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐃𝐨𝐦𝐚𝐢𝐧:

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