PUNE, India, December 9, 2015 /PRNewswire/ --
The report "Air Traffic Control Equipment Market by Sector (Commercial, & Defense), by Type (Communication, Navigation, & Surveillance), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World) - Global Analysis and Forecast 2020", published by MarketsandMarkets, The 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.
Browse 86 market data Tables and 128 Figures spread through 162 Pages and in-depth TOC on "Air Traffic Control Equipment Market".
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The market report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Asia-Pacific, Europe, and the Rest of the World.
The air traffic control (ATC) equipment market is projected to reach USD 5.52 Billion by 2020, at a CAGR of 4.79%. A number of factors, such as the increase in the initiatives taken for modernization of airports, growing concern about safety requirements, technological advancements, and need for efficient management of airspace are expected to drive the growth of the air traffic control equipment market.
The commercial segment to dominate the air traffic control market, segmented based on sector.
This segment dominates the studied market, and is expected to continue its dominance over the next five years, primarily driven by the increase in spending by various aviation authorities towards modernizing air traffic control systems in response to the increasingly congested airspaces and rise in air traffic.
The communication segment is expected to grow the highest during the forecast period.
The global air traffic control market has been segmented and analyzed in terms of three types of equipment, which include communications, navigation, and surveillance, wherein the communications segment dominates the overall market, and is expected to exhibit a similar trend during the next five years. It is expected to be mainly driven by the increasing spending by aviation authorities. Efforts are being made to implement digital data communication systems to ensure lossless transmission of voice data and real-time communication.
The air traffic control equipment market is expected to witness the highest growth in the Asia-Pacific.
This growth can be attributed to the increase in government spending for infrastructure development, liberalization of regulations related to air transport, and growing GDP of the region.
Lockheed Martin Corporation (U.S.): One of the key players in the air traffic control market
The report classifies the air traffic control equipment market based on sector and type. The market has been segmented based on sector into defense and commercial. It has been segmented further based on type into communication, navigation, and surveillance.
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The major players in this market have been identified to be Lockheed Martin Corporation (U.S.), Thales SA (France), Raytheon Company (U.S.), Northrop Grumman Corporation (U.S.), and Indra Sistemas, S.A. (Spain).
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