Air Traffic Control Market was valued at USD 9.1 billion in 2021 and is forecast to reach USD 13.8 billion in 2029, growing at a CAGR of 5.3% from 2022-2029
The factors driving the growth of Air Traffic Control Market includes increase in the air passenger traffic around the world, rise in the production of Unmanned Aerial Vehicles (UAV), construction of new airports, emerging need to reduce the burden on existing airspace management solutions and improvements in the living standards. As per the report published by International Civil Aviation Organization (ICAO), the total number of departures in 2018 were calculated around 37.8 million in 2018, showing an increase of 3.5% as compare the previous year, which will accelerate the Air Traffic Control (ATC) Market size in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), rise in Government’s expenditure on enhancing airport infrastructure and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the, increasing investments by major players on research and development, strategic partnerships between key players, and growing disposable incomes, are further contributing towards the market growth.
However, growth of Air Traffic Control Market is hindered owing to high cost of air traffic control systems.
The prominent players operating in the Air Traffic Control Market are Adacel Technologies LTd, Leonardo S.p.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, Thales Group, BAE Systems Plc, Honeywell International Inc., Indra Sistemas SA, Frequentis AG and Harris Technologies, Inc, among others.
Based on Airspace, the ATCT segment is predicted to grow at a significant CAGR during the forecast period
Growing concerns related to safety and technological advancements in air traffic control towers, are some of the factors responsible for the segment’s growth.
Based on Offering, the Software and solutions segment is projected to expand at a faster CAGR over the forecast period
Growing adoption of advanced technologies such as AI and IoT because it helps in reducing downtime, automatically updates flight plans, and provides real-time insights, are propelling growth of the segment.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
Presence of the leading players such as Honeywell International Inc., Raytheon Technologies Corporation and Harris Technologies, increasing ai9r passenger traffic, growing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Segmentation by Airspace
Segmentation by Application
Segmentation by Offering
Segmentation by Investment
Segmentation by Airport Size
Segmentation by Sector
Segmentation by Region
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