Pune, India -- (SBWIRE) -- 09/29/2020 -- Air Traffic Control Market will exhibit a CAGR of 6.96% during the forecast period and USD 9.45 billion by 2027, and the market value as per 2019 was USD 8.90 billion.

Fortune Business Insights™ in a recently published report, titled, "Air Traffic Control Market Size, Share and Industry Analysis by Point of Sale (Hardware, Software, and Services), By Airspace (Air Route Traffic Control Centers (ARTCC), Terminal Radar Approach Control (TRACON), Air Traffic Control Tower (ATCT), and Remote Tower (RT)), By Application (Communication, Navigation, Surveillance, and Automation), By Airport Size (Small, Medium, and Large), and Regional Forecast, 2020- 2027."

Air Traffic Control Market Drivers and Restraint :
Surge in Air Passenger Traffic to Promote ATC Employment
The development of cost-effective domestic flights by airlines to better serve the snowballing travelers will subsequently foster the growth of the market. The prospering aviation industry will create lucrative business openings for the market in the forthcoming years. The rising passenger preference for air travel will support the growth of the market. Moreover, the increasing government funding for robust air transportation in the emerging nations will contribute positively to the growth of the market. According to the International Air Transport Association, an additional 44% of air passenger traffic is expected to come from China and India in the next ten years. The upgradation of existing ATC equipment systems to advanced automatic ATC systems with an aim to enhance the overall efficacy of flight travels and diminish ground-based accidents. This factor is likely to aid the air traffic control market growth in the foreseeable future. In addition, the implementation of artificial intelligence (AI) to increase operational efficiency and productivity in ATC systems will further encourage the growth of the market.

Get Sample PDF Brochure with COVID19 Impact on Small Satellite Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/air-traffic-control-atc-market-102957

List of Significant Manufacturers Air Traffic Control Market are:
- BAE Systems (The U.S.)
- Cyrrus Limited (The U.K)
- Indra Sistemas, S.A. (Japan)
- Honeywell International Inc. (The U.S.)
- L3Harris Technologies Inc. (The U.S.)
- Raytheon Technologies (The U.S.)
- Saab AB (Sweden)
- Leonardo S.p.A (Italy)
- Thales Group (France)
- Westminister Group Plc. (The U.K)

Regional Analysis:
Presence of Well-known Companies to Augment Growth in North America
The market in North America stood at USD 3.15 billion in 2019 and is expected to remain dominant during the forecast period owing to the presence of major companies such as Raytheon Technologies, Honeywell International Inc., Northrop Grumman Corporation, and others. The increasing partnerships and acquisitions of key players can be another vital factor in boosting the market in North America. For instance, in April 2020, the merger between Raytheon Company and United Technologies Corporation to deliver advanced technologies to the airports and defense authorities. Europe is predicted to hold the largest share in the market during the forecast period due to the growing investment in the modernization of conventional ATC systems with technologically advanced real-time ATC systems. The escalating focus on smart and green airports will accelerate the market in Europe. Asia Pacific is predicted to grow rapidly during the forecast period owing to the rising air passenger traffic at domestic airports and international airports in countries such as India and China.

Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/air-traffic-control-atc-market-102957

Market in Europe Held the Highest Share; Increasing Number of POS Terminals Will Emerge in Favor of Market Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Europe currently holds the largest market share. The increasing number of POS terminals will emerge in favor of market growth. The increasing number of ATM transactions will also lead to a wider product adoption in numerous countries across this region. As of 2019, the market in Europe was worth USD 1.57 billion and this value is projected to increase further in the coming years.

Some of the key industry developments in the Air Traffic Control Market Include:
December 2019: Serco Group plc had a partnership with the Ministry of Transport for the extension of its Air Traffic Control Services, to continue providing support for the General Company for Air Navigation Services (GCANS) at Baghdad Airport.
December 2018: Saab Digital Air Traffic Solutions (SDATS) signed a 20-year framework agreement with ATC, the Netherlands, for remote tower systems. This long term agreement for modernization of ATC units.

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/air-traffic-control-atc-market-102957