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Air Traffic Control Market to Reach $11.50 Billion by 2027, Growing at a CAGR of 4.1% from 2020
Air Traffic Control Market Size, Share, Competitive Landscape and Trend Analysis Report : Global Opportunity Analysis and Industry Forecast, 2020-2027
PORTLAND, PROVINCE: OREGAON, UNITED STATES, September 2, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, "Air Traffic Control Market by Airspace, Application, Offering, Airport Size, and Sector: Opportunity Analysis and Industry Forecast, 2020-2027," the global air traffic control market was valued at $8.41 billion in 2019, and is projected to reach $11.50 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027.
At present, the U.S. dominates the market, followed by Mexico and Canada in North America. However, Canada is expected to grow at a higher CAGR during the forecast period. In addition, in 2019, China led the market in the Asia-Pacific region followed by India, Japan, Australia and rest of Asia-Pacific countries.
ðððªð®ðð¬ð ððð¦ð©ð¥ð ððð©ð¨ð«ð – https://www.alliedmarketresearch.com/request-sample/5323
Factors such as rise in number of airports, need of better airspace management systems, and increase in number of passengers are driving the air traffic control (ATC) market growth. However, potential risk of cyber threat, and high cost of ATC systems are expected to impede the stated air traffic control market growth.
Further, in accordance with the data released by international civil aviation organization (ICAO), 4.3 billion passengers were carried by airlines in 2018. Moreover, the number of airline passengers is expected to cross 10.0 billion by 2040, which will create the need for additional airports across the globe. This in turn is expected to supplement the growth of the global ATC market.
Most of the travelers across the globe prefer to travel by air than other conventional modes of transportation such as road, and sea as it is the safest and fastest mode of transportation with fewest cancelled flights. This makes the air travel more reliable than others and also offers comfortable experience during the journey. Though air travel is expensive, customers prefer travelling by air owing to rise in disposable income.
ðð«ð¨ðð®ð«ð ðð¨ð¦ð©ð¥ððð ððð¬ððð«ðð¡ ððð©ð¨ð«ð – https://www.alliedmarketresearch.com/air-traffic-control-equipment-market/purchase-options
Further, hackers/ attackers can take the advantage of the software vulnerabilities so as to exploit ATC systems, which in turn can result in air traffic fatalities. In addition, in line with the report released by the U.S. Government Accountability Office (GAO), the cybersecurity weakness can lead to extreme disruptions and undermine the safety of the nation's ATC system. Hence, to avoid such cyber-attacks, cyber security in air traffic management (ATM) needs to be prioritized. This requires companies and regulators to focus more on the technological solutions as well as potential applications of artificial intelligence (AI) and blockchain to avoid the potential risk of cyber threat. Such potential risk of cyber threat is expected to hamper the growth of the air traffic control market.
The air traffic control system at any airport constitutes 20% – 50% of the overall running cost of the airport. In addition, various governments are spending heavily to install air traffic control towers (ATCT) enhance air traffic management. For instance, Delhi IGI Airport is now equipped with the India's tallest ATC tower with 102 meters of height. This installation is expected to help smoothen the traffic flow at the busiest airport. Further, the total cost of setting up the new ATC tower and its facilities was around $50 million. Therefore, high cost of ATC systems may hinder the growth of the global air traffic control market.
ððð¤ð ðð§ ðð§ðªð®ð¢ð«ð² ðððð¨ð«ð ðð®ð²ð¢ð§ð – https://www.alliedmarketresearch.com/purchase-enquiry/5323
ððððð¢ð§ð ððð«ð¤ðð ðð¥ðð²ðð«ð¬ :
Adacel Technologies Limited, BAE Systems, Frequentis AG, Indra Sistemas SA, Leonardo S.p.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, SkySoft-ATM, and Thales Group.
ððð² ð
ð¢ð§ðð¢ð§ð ð¬ ðð ðð¡ð ððð®ðð²
By airport size, the medium airport segment generated the highest revenue in 2019.
By region, LAMEA is anticipated to exhibit the highest CAGR during the forecast period while considering the air traffic control market growth.
By offerings, the hardware segment dominated the global market in terms of revenue in 2019.
Middle-East leads the ATC market in the LAMEA region.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
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Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Air Traffic Control Market Size, Share, Competitive Landscape and Trend Analysis Report : Global Opportunity Analysis and Industry Forecast, 2020-2027
PORTLAND, PROVINCE: OREGAON, UNITED STATES, September 2, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, "Air Traffic Control Market by Airspace, Application, Offering, Airport Size, and Sector: Opportunity Analysis and Industry Forecast, 2020-2027," the global air traffic control market was valued at $8.41 billion in 2019, and is projected to reach $11.50 billion by 2027, registering a CAGR of 4.1% from 2020 to 2027.
At present, the U.S. dominates the market, followed by Mexico and Canada in North America. However, Canada is expected to grow at a higher CAGR during the forecast period. In addition, in 2019, China led the market in the Asia-Pacific region followed by India, Japan, Australia and rest of Asia-Pacific countries.
ðððªð®ðð¬ð ððð¦ð©ð¥ð ððð©ð¨ð«ð – https://www.alliedmarketresearch.com/request-sample/5323
Factors such as rise in number of airports, need of better airspace management systems, and increase in number of passengers are driving the air traffic control (ATC) market growth. However, potential risk of cyber threat, and high cost of ATC systems are expected to impede the stated air traffic control market growth.
Further, in accordance with the data released by international civil aviation organization (ICAO), 4.3 billion passengers were carried by airlines in 2018. Moreover, the number of airline passengers is expected to cross 10.0 billion by 2040, which will create the need for additional airports across the globe. This in turn is expected to supplement the growth of the global ATC market.
Most of the travelers across the globe prefer to travel by air than other conventional modes of transportation such as road, and sea as it is the safest and fastest mode of transportation with fewest cancelled flights. This makes the air travel more reliable than others and also offers comfortable experience during the journey. Though air travel is expensive, customers prefer travelling by air owing to rise in disposable income.
ðð«ð¨ðð®ð«ð ðð¨ð¦ð©ð¥ððð ððð¬ððð«ðð¡ ððð©ð¨ð«ð – https://www.alliedmarketresearch.com/air-traffic-control-equipment-market/purchase-options
Further, hackers/ attackers can take the advantage of the software vulnerabilities so as to exploit ATC systems, which in turn can result in air traffic fatalities. In addition, in line with the report released by the U.S. Government Accountability Office (GAO), the cybersecurity weakness can lead to extreme disruptions and undermine the safety of the nation's ATC system. Hence, to avoid such cyber-attacks, cyber security in air traffic management (ATM) needs to be prioritized. This requires companies and regulators to focus more on the technological solutions as well as potential applications of artificial intelligence (AI) and blockchain to avoid the potential risk of cyber threat. Such potential risk of cyber threat is expected to hamper the growth of the air traffic control market.
The air traffic control system at any airport constitutes 20% – 50% of the overall running cost of the airport. In addition, various governments are spending heavily to install air traffic control towers (ATCT) enhance air traffic management. For instance, Delhi IGI Airport is now equipped with the India's tallest ATC tower with 102 meters of height. This installation is expected to help smoothen the traffic flow at the busiest airport. Further, the total cost of setting up the new ATC tower and its facilities was around $50 million. Therefore, high cost of ATC systems may hinder the growth of the global air traffic control market.
ððð¤ð ðð§ ðð§ðªð®ð¢ð«ð² ðððð¨ð«ð ðð®ð²ð¢ð§ð – https://www.alliedmarketresearch.com/purchase-enquiry/5323
ððððð¢ð§ð ððð«ð¤ðð ðð¥ðð²ðð«ð¬ :
Adacel Technologies Limited, BAE Systems, Frequentis AG, Indra Sistemas SA, Leonardo S.p.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, SkySoft-ATM, and Thales Group.
ððð² ð
ð¢ð§ðð¢ð§ð ð¬ ðð ðð¡ð ððð®ðð²
By airport size, the medium airport segment generated the highest revenue in 2019.
By region, LAMEA is anticipated to exhibit the highest CAGR during the forecast period while considering the air traffic control market growth.
By offerings, the hardware segment dominated the global market in terms of revenue in 2019.
Middle-East leads the ATC market in the LAMEA region.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
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Barry Ward
September 5, 2024 at 7:04 am
In conclusion, the air traffic control (ATC) market is poised for significant growth, projected to reach $11.50 billion by 2027, fueled by increasing air travel demand and the need for enhanced airspace management systems. Despite challenges such as high implementation costs and cybersecurity threats, the market is expected to flourish as governments and private entities invest in advanced ATC technologies. With North America leading the way, particularly the U.S. and Canada, and promising growth in the Asia-Pacific region, the ATC market presents numerous opportunities for stakeholders. By prioritizing technological innovations and addressing potential risks, the industry can capitalize on the rising number of passengers and airports globally.
Anita Ward
September 5, 2024 at 11:23 am
In conclusion, the air traffic control market is poised for significant growth, projected to reach $11.50 billion by 2027, with a compound annual growth rate of 4.1% from 2020. Key drivers include an increasing number of airports, enhanced airspace management requirements, and a growing passenger base. However, challenges such as cybersecurity threats and high implementation costs present obstacles that need to be addressed. As air travel continues to be the preferred mode of transportation globally, investments in air traffic control systems will be essential to accommodate the surging demand while ensuring safety and efficiency in air traffic management. Overall, the market presents numerous opportunities for stakeholders, particularly in leveraging technology to mitigate risks and enhance operational capacity.
Maria Bailey
September 5, 2024 at 11:47 am
In conclusion, the air traffic control market is set to experience significant growth, with projections estimating a rise to $11.50 billion by 2027, driven by a compound annual growth rate (CAGR) of 4.1% from 2020. The increasing number of airports, the need for improved airspace management, and the projected surge in passenger traffic are key factors fueling this expansion. However, challenges such as cybersecurity threats and the high costs associated with ATC systems pose risks to this growth trajectory. As the global air travel industry continues to evolve, investment in advanced technologies and infrastructure will be crucial to ensuring safe, efficient, and reliable air traffic management for the future.
Douglas Miller
September 5, 2024 at 7:32 pm
The global air traffic control market is on a promising trajectory, projected to reach $11.50 billion by 2027, growing at a steady CAGR of 4.1% from 2020. This growth is largely attributed to the increasing number of airports, rising air passenger traffic, and the necessity for enhanced airspace management systems. However, challenges such as potential cyber threats and the high costs associated with ATC systems present significant hurdles. As air travel continues to be the preferred mode of transport due to its reliability and speed, the market is anticipated to expand further, particularly in regions like LAMEA and North America. Stakeholders must prioritize technological advancements and cybersecurity measures to safeguard the future of air traffic control systems and maintain the safety and efficiency of global air travel.
Anna Flores
September 6, 2024 at 10:08 am
The air traffic control (ATC) market is poised for significant growth, projected to reach $11.50 billion by 2027, with a steady CAGR of 4.1% from 2020 to 2027. This expansion is primarily driven by the increasing number of airports, the need for enhanced airspace management, and a surge in passenger traffic. Despite facing challenges such as cybersecurity threats and high system costs, the demand for advanced ATC solutions remains strong, particularly as global air travel continues to rise. Key players in the market are urged to prioritize cybersecurity measures and adopt innovative technologies to ensure the safety and efficiency of air traffic management, ultimately paving the way for a robust and secure future for the aviation sector.
tammy richardson
September 7, 2024 at 2:55 am
The air traffic control market is poised for significant growth, anticipated to reach $11.50 billion by 2027, driven by increasing air traffic volumes, a rising number of airports, and the need for enhanced airspace management systems. Despite challenges such as cybersecurity threats and high implementation costs, the industry’s expansion is supported by a growing preference for air travel and government investments in upgrading infrastructure. As countries, particularly in North America and the Asia-Pacific regions, prioritize modernizing their air traffic control systems, the market is set to benefit from innovations in technology and heightened safety measures. The future of the air traffic control sector remains promising, with opportunities for stakeholders to address existing challenges while capitalizing on new trends in air travel.