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(USGovernment-News.Com, October 20, 2017 ) The Global Air Traffic Control equipment market is accounted for $4 billion in 2014 and expected to grow at a compound annual growth rate (CAGR) of 5.65% to reach $6.21 billion by 2022. The factors that are favouring the market growth include improved aircraft movement, and construction of new airport and renovation of the existing ones led by the passenger & freight traffic and demand for modernaization and increased capacity. Airport expansion and modernization requires exploitation of air traffic control equipment and its sub-system, which is expected to boost the market growth.
High procurement and maintenance cost of air traffic control equipment is expected to hinder air traffic control equipment industry growth. Lack of skilled labour and inefficient operations at peak hours is restraining the market growth. ATC equipment facilitates air traffic controllers to communicate with the aircraft, provides navigational services, monitors and manages the air traffic. Along with the increase in global air traffic and the need to meet the rise in demand for ATC in the future, ATM systems are being upgraded from ground-based to satellite-based systems.
The global air traffic control equipment market is segregated based on product type, application and region. Depending on the product type the market is sub-segmented into three types namely Communications Equipment, Navigation Equipment and Surveillance Equipment. The replacement rate of archaic communications equipment has amplified due to improvement of digital data communication on account of omnipresent use of air traffic control systems. Based On applications air traffic control equipment market is divided into Commercial Aircraft, Private Aircraft and Military Aircraft. Commercial and Military aircrafts are expected to be high growing markets for air traffic control equipment deployment.
Geographically air traffic control equipment market is segmented into North America, Europe, Asia Pacific and Rest of the World (ROW). Europe and North America accounted for a significant market share of the air traffic control equipment market, due to the increased government efforts for securing air traffic and aircraft. Federal Aviation Administration (FAA), the national aviation authority of the U.S., has joined forces with unions and the aviation industry in the transitioning of air traffic control facilities from Common Automated Radar Terminal System (CARTS) to the Standard Automation Replacement System (STARS). Asia Pacific is expected to show high growth potential on account of growing demand for effective and efficient infrastructure.
Major players in the mining market include Advanced Navigation & Positioning Corp, Comsoft GMBH, BAE Systems Plc, Harris Corporation, Cobham Plc, Intelcan Techno systems Inc, Lockheed Martin Corp, IndraSistemas S.A, Raytheon Compan, and NavAero Inc.
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