NEW YORK, Dec. 22, 2015 /PRNewswire/ -- "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.
Break-up of profile of primary participants for the report has been given below.
• By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C level – 60%, Director level – 25%, Others – 15%
• By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%
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.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the air traffic control equipment market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on air traffic control equipment offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the market
• Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for air traffic control equipment across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the market
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