The global air traffic control equipment market is expected to expand at a CAGR of 5.8% during the forecast period from 2018 to 2026. Air traffic has grown over the last few years on the back of recovering economic conditions worldwide. Improving discretionary income has had a positive impact on both corporate and leisure air travel in recent years. The number of air passengers is expected to double within the next 20 years, and consequently, the number of aircraft and airport hubs will surge, attracting parallel investments in airport infrastructure during the forecast period from 2018 to 2026. In addition, stringent aviation regulations promoting security, safety, and effective air traffic management, together with advancements in microelectronics, will trigger the replacement of conventional air traffic equipment with advanced variants.
Market Synopsis
Communication Equipment to Dominate; Surveillance Equipment to Register Strong Growth
Communication equipment, being integral to the seamless exchange of information between airport traffic centers and aircraft pilots, represents the largest segment in the global air traffic control equipment market. The trend is expected to remain resilient, primarily supported by the replacement of conventional systems with advanced digital variants. On the other hand, surveillance equipment is projected to register maximum growth during the forecast period from 2018 to 2026. Growing security fears in view of rising terrorist threats are identified as the major factor driving demand for air traffic surveillance equipment at airports. Compliance with international as well as domestic aviation legislation will further support the deployment of surveillance equipment at airports.
Europe to Dominate; Asia Pacific to Register Steady Growth
In terms of value contribution, Europe was the major air traffic control equipment market in 2017, closely trailed by North America. In the same year, their collective contribution to global air traffic control equipment was more than 62 percent. The dominance of these regions is backed by initiatives taken by the governments to secure and effectively manage air traffic. On the other hand, strong growth in the commercial aviation sector in Asia Pacific has positioned the region as the fastest-growing market for air traffic control equipment. This growth is expected to remain buoyant, making the region the most attractive air traffic control equipment market well beyond the forecast period. In addition, free trade agreements between emerging economies in the region and the ensuing air freight are driving demand for air traffic control equipment in the region.
Key Players:
Some of the leading manufacturers profiled in the study include Raytheon Company, Northrop Grumman Corporation, Frequentis AG, Searidge Technologies Inc., NavAero Inc., Becker Avionics Inc., Lockheed Martin Corporation, Indra Sistemas SA, Advanced Navigation & Positioning Corporation Inc., Harris Corporation, BAE Systems Plc, and Cobham Plc, among others. Because contracts with defense and airport authorities account for a significant portion of air traffic control equipment sales, manufacturers are focused on establishing long-term relationships with the government and the relevant airport authorities.
Periods of History and Forecast
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2016 to 2026, considering 2017 as the base year for the research. The CAGR (compound annual growth rate) for each segment and sub-segment is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the size of the global air traffic control equipment market in 2016 and 2017?
What are the estimated forecast and market projections up to 2026?
Which is the largest regional market for air traffic control equipment?
Which end-use segment has the largest penetration of air traffic control equipment?
Which is the most preferred type of air traffic control equipment at airports?
Predominant trends shaping the global air traffic control equipment market worldwide
Which is the most attractive and promising end-use segment in the global air traffic control equipment market?
Who are the leading manufacturers in the global air traffic control equipment market?
What are the key strategies adopted by the leading manufacturers in the global air traffic control equipment market?
Frequently Asked Question:
The market for Air Traffic Control Equipment Market is expected to reach USD$ XX Mn in 2026.
The Air Traffic Control Equipment Market is expected to see significant CAGR growth over the coming years, at 5.8%.
The report is forecasted from 2018 -2026.
The base year of this report is 2017.
Raytheon Company, Northrop Grumman Corporation, Frequentis AG, Searidge Technologies Inc., NavAero Inc., Becker Avionics Inc., Lockheed Martin Corporation, Indra Sistemas SA. are some of the major players in the global market.
