Ameco Research Analyst estimated that the global market for Air Traffic Control will rise at a CAGR of 5% during the forecast period, with a market size of over USD 15,780 Million by 2030.
The International Air Transport Association (IATA) predicts that overall traveler numbers will reach 4.0 billion in 2024, surpassing pre-COVID-19 levels (including multi-sector connecting trips as one passenger) (103 percent of the 2019 total). According to the International Civil Aviation Organization (ICAO), passenger and freight traffic should double by 2035. The SESAR initiative in Europe contains a number of recommendations for coping with this overload. Current air traffic management tactics and equipment must be upgraded in order to respond positively. All air service providers must put forth the effort and adapt to market demands in the face of rising traffic. Increasing GDP and, as a result, disposable money and increase in living standards have resulted in escalated growth for air travel for both pleasure and business. Living conditions are one of the most significant factors of the number of passengers enplaned, but they are only significant up to a point. Despite having the highest GDP per capita, nations like Norway and Switzerland in comparison to Singapore and Hong Kong in terms of flights each person.
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Market Dynamics
The rapid advancements in ACT systems are expected to fuel the demand for the air traffic control industry. Airport technologies are helping market growth as machine learning and the internet of things (IoT) become more widely adopted. These technologies have been adopted in the ATC unit by a number of airport authorities. Demand will be fueled by the growing number of smart airports.
Another element driving ATC demand is the growing number of airports. When compared to all other kinds of transportation, air travel is regarded as the safest. Furthermore, as the world's population grows, demand for more airports to support air transportation is expected to rise; propelling the air traffic control industry forward.COVID-19 has had a significant financial impact on the aviation industry. In April, the International Air Transport Association (IATA) announced that passenger demand was at an all-time low, down 94.3 percent 2 from April 2019. According to IATA, airline passenger revenues might drop by $314 billion in 2020 as a result of COVID-19, a 55 percent drop from 2019, but further analysis 5 shows that this could drop by as much as $419 billion.
Airlines, connected airports, and other connected air traffic control and data exchange systems are becoming more vulnerable to cyber attacks, which is a major issue restricting market value. Companies, in contrast, are developing new and improved technology in order to reduce cyber attacks to a manageable level.
Global Air Traffic Control Market Classification
The air traffic control market is divided into six categories: airspace, offering, investment type, sector, application, and geography. The airspace segment can be categorized into ATCT, Remote Tower, TRACON, and ARTCC. Among them, ATCT gathered the leading market share in 2021. Hardware, software & solutions, and services are sub-segments of the offering segment. The market is divided into Brownfield and Greenfield investment types. The sector component is divided into two parts: commercial and defense. Communication, navigation, automation, and monitoring are examples of application segmentation.
Regional Stance
North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa (MEA) are the regional categorization of the global air traffic control market. Europe accumulated a major share of the market in 2021 and is likely to maintain its dominance throughout the forecast period 2022– 2030. In the past, the Single European Sky Project was formed to increase the efficiency of airspace use and management across Europe. The CAA also added the Future Airspace Strategy, which highlights the UK's current views on how to better utilize airspace. In addition, the Asia-Pacific area is expected to grow at the quickest rate in the next years. According to an IEEE report, in the twenty-first century, demand for air transportation in the Asia Pacific region will rise. This is due to the addition of new airports in Singapore, Hong Kong, Shanghai, and Korea, as well as the expansion of existing ones While the rising countries of China, India, and Brazil are expected to account for the majority of air traffic increase (5 percent to 7%), the United States will remain the second-largest provider to incremental air traffic in absolute numbers. The Asia Pacific has had the greatest net profit impact regionally. However, Africa is experiencing the greatest drop in passenger demand, with predictions that the situation would deteriorate in the following months.
Major Players
The top players offered in the report include Adacel Technologies, BAE Systems plc, Frequentis, Harris Corporation, Honeywell Inc., Indra Sistemas, S.A., Leonardo S.p.A, Northrop Grumman Corporation, Thales Group, and The Raytheon Company.
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