Global Air Traffic Control Equipment Market: Growing Need for Improved Management Pushes Players to Introduce Effective Systems, says TMR
In recent years, the competition in the global air traffic control equipment market has increased significantly, states a report by Transparency Market Research (TMR). This market is expected to register secular growth in the next few years. In 2012, the prominent players, namely Thales Group, Harris Corp., and BAE Systems Plc, collectively accounted for a share of 46.0% in the global air traffic control equipment market. These players are focusing on offering customized and innovative air traffic management solutions in order to gain a competitive edge in the global market. In addition, they are also making notable efforts to expand their product portfolio to reach a large number of consumers.
According to the research study by TMR, the global market for air traffic control equipment is estimated to reach a value of US$4.1 bn by the end of 2019.
Robust Industrialization to Accelerate Growth of Asia Pacific Air Traffic Control Equipment Market
From a geographical viewpoint, in the last few years, Europe has been in a lead position in the global market. However, according to a TMR analyst, this region is expected to lose a marginal share by 2019. On the other hand, with a high rate of industrialization and technological developments, Asia Pacific is projected to lead the global air traffic control equipment market and account for a 33.1% share by the end of 2019. In addition, the significant contribution from China and India is expected to encourage the growth of Asia Pacific market.
Among the key product types, the communication equipment segment is projected to lead the global air traffic control equipment market with a share of 37.4% by the end of 2019. The high growth of this segment can be attributed to the development of innovative communication capabilities.
Development of Airport Infrastructure to Bolster Global Air Traffic Control Equipment Market
The increasing number of air passengers is the primary factor augmenting the air traffic control equipment market. In addition, the improving lifestyle of consumers owing to the rising disposable income is accelerating their number of air travels. The increasing fuel prices and the infrastructural development of airports are some of the other factors expected to encourage the growth of the global air traffic control equipment market in the next few years, says a TMR analyst.
Furthermore, technological developments and the rising demand for high safety arrangements are estimated to accelerate the market’s growth in the near future. Moreover, the growing need for better airspace management is projected to supplement market growth.
High Cost of Air Traffic Control Equipment to Impede Market Growth
On the flip side, the cost of air traffic control equipment is one of the primary factors estimated to restrict the growth of the global market throughout the forecast period, states a TMR analyst. In addition, the cuts in government spending are anticipated to hamper the growth of the market. The lack of skilled labor and the inability of legacy systems to safeguard efficiency in operations during peak hours are also estimated to inhibit market growth in the coming years. Nonetheless, the emergence of satellite-based air traffic control systems is expected to offer promising opportunities for market players.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Air Traffic Control Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019.”
The global air traffic control equipment market has been segmented as below:
Global Air Traffic Control Equipment Market, by Type:
- Communication equipment
- Navigation equipment
- Surveillance equipment
Global Air Traffic Control Equipment Market, by End user:
- Commercial aircraft
- Private aircraft
- Military aircraft
Global Air Traffic Control Equipment Market, by Geography:
- North America
- Asia Pacific
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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