DUBLIN--(BUSINESS WIRE)--The "Global Air-Traffic Control Equipment Market - Segmented by End-User, by Type, by Airport Type and by Geography - Trends, Analysis, Future Market (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Rising concerns related to aircraft safety, providing accurate air-traffic data to pilots and increasing number of passengers are expected to directly hit the demand for aircraft and, subsequently, lead the market for ATC equipment during 2017-2022 (the forecast period). However, some factors restraining the market include:
- Maintenance cost of equipment
- Stringent regulatory norms
The continuous change in the satellite-based navigation system is expected to fuel the market growth. As the new-generation air-traffic management (ATM) system is flourishing around the world, a significant shift in the ATM systems market can be recorded. To attain efficiency in operations, the Ground-Based Augmentation System (GBAS) is widely being used. GBAS is a substitute to ILS and supports the entire range of aircraft approach and landing operations.
In 2016, the airport passenger boarding bridge accounted for USD 4.65 billion and is expected to reach UDS 5.85 billion by 2022, registering a CAGR of 5.2% during 2017-2022 (the forecast period).
The air-traffic control equipment market is highly competitive as regional and international players are dominating the market. The communication segment is expected to account for more than USD 2 billion and geographically, North America is anticipated to lead the market, holding nearly half of the share, followed by Asia-Pacific and Europe, during 2017-2022 (the forecast period).
Latest Developments of Market
In the second quarter of 2017, Almaz-Antei, a Russian defence company, invented a domestically manufactured air-traffic control system. This system is not entirely a civil object; it can also be turned into a combat control system.
President Trump introduced a proposition to privatize the country's air-traffic control system. Like Canada, America is going to hire a non-government, non-profit corporation to manage, operate, and control air-traffic, nationwide. This initiative is expected to remove the job of tracking and guiding airplanes from the purview of the Federal Aviation Administration.
- BAE Systems PLC
- Harris Corporation
- Cobham PLC
- Indra Sistemas S.A.
- Intelcan technosystems Inc.
- Lockheed Martin Group
- Northrop Grumman Corp.
- Thales Group
- Raytheon Company
- ADB Safegate
- Adder Technology
For more information about this report visit https://www.researchandmarkets.com/research/tpl48j/global?w=4