“The growing need for the efficient utilization of congested airspace is driving the demand in the air traffic control equipment market”
According to the projections in this report, the air traffic control (ATC) equipment market is projected to grow from USD 4.37 billion in 2015 to USD 5.52 billion by 2020, at a CAGR of 4.79% during the forecast period of 2015 to 2020. Factors that drive the global air traffic control equipment market include the increase in the initiatives taken for modernization of airports, growing concern about safety requirements, technological advancements, and need for efficient management of airspace.
“Commercial segment to witness the highest growth during the forecast period”
The key applications considered for the market study are defense and commercial, wherein the overall air traffic control equipment market is dominated by the commercial segment. This segment is projected to grow at a higher CAGR during the forecast period of 2015 to 2020, primarily driven by the increase in spending by various aviation authorities towards modernizing their air traffic control equipment in response to the burgeoning rise in air travel and congestion of airspace.
“The Asia-Pacific region to offer significant opportunities for growth”
The APAC region is expected to exhibit the highest growth rate in the air traffic control equipment market during the forecast period of 2015 to 2020. This growth can be attributed to increase in government spending for infrastructure development, liberalization of regulations related to air transport, and growing GDP of the region.
The major companies profiled in the report include Indra Sistemas, S.A. (Spain), Harris Corporation (U.S.), Raytheon Corporation (U.S.), and Thales SA (France), among others.
