A recent report published by Infinium Global Research on the air traffic control market provides in-depth analysis of segments and sub-segments in the global as well as regional air traffic control market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional air traffic control market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global air traffic control market. According to the report, the global air traffic control market is projected to grow at a CAGR of 4.37% over the forecast period of 2021-2027.
The revenue generated by the market was approximately USD 9.83 billion in 2020 and is expected to reach approximately USD 13.12 billion in 2027. Air Traffic Control is an inseparable part of modern-day aviation. In the absence of Air Traffic Control, there would be utter chaos in the airports resulting into high risk of aerial accidents and huge financial losses. Every airport has an air traffic control tower that manages every activity of the aircraft on the runway. It performs crucial tasks such as managing the air traffic in controlled airspace flights and monitoring and surveilling the tarmac, navigating the approaching flights, and others. With changing times and the evolution of modern aviation, the role of air traffic control has also evolved and become more complex. The use of state-of-the art equipment and management solutions has become imminent in the air traffic control towers.
The air traffic control market was gloomy during the covid-19 pandemic. Stringent international flight restrictions were was implemented to control the flow of passengers from covid-19 affected areas. The primary reason covid-19 virus spread rapidly around the world was majorly due to air passengers that commuted internationally. The stringent controls on international air travel and closing of international borders sharply declined the frequency of international flights, which resulted into drastic drop in air traffic. In certain parts of the world total ban was put on air travel. Thus, the airport operations also reduced and were deserted of air travelers. Though, airports were still operational for flights involved in covid-19 relief operations. The demand for air traffic control equipment, services, software, solutions and manpower declined sharply which negatively affected the market.
The air transport industry is directly responsible for the socio-economic development of the world economy, creating indirect and direct employment by supporting local businesses and tourism industries in countries around the world. The strong growth has been observed in air freight and number of passengers. Strong economic growth and rise of middle-class people turning towards air travel due to increasing low cost flight operators is responsible for growing number of air passengers. To accommodate the growing air traffic and to augment future infrastructure for sustained growth of aviation industry, development of new airports is growing around many countries in the world. Significant amount of public and private investment is being poured in the development of new airports. Both these factors are driving the growth of the market. Modern air traffic control towers and systems work on connected technology. Connected technology is vulnerable to cyber security threats which puts air traffic control operations at risk. This factor may restrain the market in some aspects. Nevertheless, new opportunities will occur in the market as automation of air control systems and processes is rapidly growing.
The air traffic control market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to dominate the air traffic control market as North America has strong aviation industry, large number of market players, advanced airport infrastructure and a strong base of air travelers. Europe is expected to hold the second largest in the market as the tourists from around the world travel through flights to Europe. Asia-Pacific is expected to be the fastest growing region in the world due to rapidly rising aviation industry in developing countries such as India and China.
The report on global air traffic control market covers segments such as control center, component, application, airport size, and end user. On the basis of control center, the sub-markets include terminal radar approach control, air route traffic control center (ARTCC), air traffic control tower (ATCT), and remote tower. On the basis of component, the sub-markets include hardware, software, and services. On the basis of application, the sub-markets include navigation, communication, surveillance, and others. On the basis of airport size, the sub-markets include small, medium, and large. On the basis of end user, the sub-markets include civil, and defense.
The report provides profiles of the companies in the market such as Raytheon Technologies Corporation, Honeywell International Inc., BAE Systems, Indra Sistemas, S.A., Lockheed Martin Corporation, Leonardo S.p.A., Thales Group, SAAB AB, Adacel Technologies Limited, and ACAMS AS.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of air traffic control market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.