Air Traffic Control Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 03/31/2015 -- The global market for air traffic control equipment is studied in a new report published by Transparency Market Research. The report, titled "Air Traffic Control Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019," states that the market will grow at a moderate pace over the report's forecast period. Growing at a CAGR of 4.8% between 2013 and 2019, the market, which valued US$3,000.0 million in 2012, will rise to US$4,137.1 million by 2019.
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Europe emerged the leading regional segment of the global air traffic control (ATC) equipment market by acquiring 32.1% share of the overall market in 2012. Rapid advancements observed in data processing and communication technologies have led to an increased adoption of ATC systems. Development of microelectronics has also opened up increased opportunities for the global air traffic control equipment market. The globally mounting numbers of air passengers have also led to a surge in demand for digitally advanced equipment for managing air traffic effectively. Air traffic control equipment also makes air traffic management more effective and leads to reduced carbon emissions. However, the high cost of advanced devices acts as the primary restraint for the growth of the market.
The report segments the global air traffic control equipment market according to three chief criteria: types of ATC equipment, end users of ATC equipment, and key regional markets.
The market segment of ATC equipment types is further divided into surveillance equipment, communications equipment, and navigation equipment. Of these, the segment of communication equipment acquired the largest share of the global air traffic control equipment market in the year 2012. ATC communications systems help improve the overall quality of digital data communication for airlines. This has led to an increased replacement rate of outdated communication equipment with high-end ATC communication equipment.
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Currently, air traffic management suffers from complexities arising from poor radar coverage of traditional ATC equipment. The use of satellites with computing capabilities and sensors will lead to increased demand for the ATC equipment market.
Based on the types of end users of ATC equipment, the report further segments the global ATC equipment market into commercial aircraft, military aircraft, and private aircraft. Of these, the segment of commercial aircraft held the largest share of the market in 2012.
Of the key regions studied by the report, namely, North America, Asia Pacific, Europe, and the Rest of the World (ROW), the market in Europe acquired the largest share in 2012 owing to increased spending by government bodies in the field of air traffic control for securing aircrafts. However, the market in Asia Pacific is anticipated to grow at the fastest rate during the forecast period owing to rising demand for efficient and effective airlines infrastructure.
The report states that the global market for air traffic control equipment is fragmented and consists of many large businesses operating amid stiff competition. Key players in the global marketplace for ATC equipment featured in the report are NavAero Inc., BAE Systems Plc, Searidge Technologies Inc., Harris Corp., Cobham Plc, Lockheed Martin Corp., Indra Sistemas SA, Raytheon Company, Northrop Grumman Corp., and Thales Group.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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