July 21, 2021
According to the recent research report titled ‘Air Traffic Control Market Size, By Component (Hardware [Communication, Surveillance, Navigation], Software, Services), By Centers (Air Route Traffic Control Center (ARTCC), Terminal Radar Approach Control (TRACON), Air Traffic Control Tower (ATCT), Flight Service Station (FSS)), By End-Use (Commercial, Defense), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report LLC, global air traffic control market is projected to record an appreciable growth rate over 2021-2027.
Surging demand for better airspace management, proliferation of tourism industry, along with technological advancements and implementation of latest systems are fueling global air traffic control market growth. Moreover, rising investments and strategic moves undertaken by major firms are also significantly contributing to the market development.
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In fact, Indra Sistemas S.A., a Spanish consultancy firm, and ENAIRE, a Spanish air navigation company, announced in May 2021 that they chose GomSpace, a nanosatellite manufacturer, to create satellites as part of a large-scale demonstration and development project. Three in-orbit demonstration (IOD) nanosatellites for worldwide air traffic management constellation would be developed as part of USD 17.7 million project. The goal is to expand surveillance and aircraft communication coverage to rural places and maritime areas where present ground-based air navigation systems are ineffective.
Considering restraints, high initial investment for the setup and cybersecurity threats to such systems are likely to hinder the industry expansion.
Based on component type, hardware segment held 70% of worldwide air traffic control market share in 2020, owing to surging demand for surveillance, communication, and navigation systems to minimize collisions and manage traffic effectively.
As per centers gamut, air traffic control tower (ATCT) segment is expected to expand over the coming year, owing to mounting demand for such towers in developing economies.
Elaborating on end-use scope, commercial segment is anticipated to record 5% CAGR through 2027, attributable to rising investments by private and government agencies towards enhancing air traffic management systems and airport facilities.
Geographically, Latin America industry is expected to amass modest revenues over 2021-2027, creditable to increasing number of airports and rising investments for improving airport facilities in the region.
Key players influencing global air traffic control market trends are Thales Group, SkySoft-ATM, Saab AB, Raytheon Company, Northrop Grumman Corporation, Nav Canada, NATS Holdings, Lockheed Martin Corporation, Leonardo S.p.A., L3Harris Technologies Inc., Indra Sistemas S.A., Honeywell International Inc., Frequentis AG, BAE Systems plc, and Adacel Technologies Ltd.