Northbrook, IL 60062 -- (SBWIRE) -- 11/28/2022 -- The report on the Air traffic control (ATC) market provides a detailed trend analysis from 2018 to 2027. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
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The Air traffic control (ATC) market is estimated to be USD 9.0 billion in 2022 and is projected to reach USD 13.5 billion by 2027, at a CAGR of 8.4% from 2022 to 2027. The market is driven by factors such as development of advanced technologies and increasing investments in airport infrastructure, demand for safe, secure, efficient, and environmentally sustainable air navigation system etc.
Based on airspace, remote tower subsegment is estimated to dominate the market during the forecast period
Based on airspace, the air traffic control market is segmented into air route traffic control center (ARTCC), terminal radar approach control (TRACON), air traffic control tower (ATCT), and remote tower. The air traffic control market for remote towers is projected to grow at the highest CAGR of XX% during the forecast period owing to the increasing need for cost-efficient control towers to regulate the airspace remotely.
Based on investment type, greenfield segment is estimated to dominate the market during the forecast period
Based on investment type, the air traffic control market is segmented into greenfield and brownfield. Greenfield investments are projected to witness a higher CAGR of XX% in the air traffic control market is during the forecast period due to Upcoming new airports in developing countries.
During the forecast period, North America will dominate the air traffic control (ATC) market. The US is the largest market in the North America region. Countries in North America are investing in air traffic control (ATC) to enhance defense and surveillance capabilities of the armed forces. North America held the largest market share in the Air traffic control Market in 2022, with a value of USD XX billion, and is expected to reach USD XX billion in 2027. Increased investment in and implementation of advanced technologies, such as communications, surveillance, and navigation systems, provides the industry with promising growth prospects. The increase in air traffic at regional airports has also helped the industry's revenue.
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Air Traffic Control (ATC) Market Worth $13.5 billion by 2027