PUNE, India, May 15, 2018 /PRNewswire/ --
According to the new market research report "Advanced-Surface Movement Guidance & Control System (A-SMGCS) Market by Application (Surveillance, Planning, Monitoring, Guidance), Offering (Hardware, Software, Maintenance), Level (Level 1, 2, 3, 4), Investment, Sector, Region - Global Forecast to 2023", published by MarketsandMarkets™ , the A-SMGCS market is estimated to be USD 4.04 Billion in 2018 and is projected to reach USD 5.34 Billion by 2023, at a CAGR of 5.73% from 2018 to 2023.
Browse 146 market data Tables and 45 Figures spread through 173 Pages and in-depth TOC on "Advanced-Surface Movement Guidance & Control System (A-SMGCS) Market"
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Increasing demand for advanced airport systems that ensure safe and smooth airport operations is one of the major factors contributing to the growth of the A-SMGCS market.
The surveillance segment is estimated to lead the A-SMGCS market in 2018
Based on application, the surveillance segment is estimated to lead the A-SMGCS market in 2018. The growth of this segment can be attributed to the increased demand and requirement for advanced surveillance systems at airports.
The software segment is projected to grow at the highest CAGR during the forecast period
Based on offering, the software segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing requirement of integrating different software, such as alerting algorithms, with hardware at airports to gain enhanced airport situational awareness.
The level 2 segment of the A-SMGCS market is projected to grow at the highest CAGR from 2018 to 2023
Based on level, the level 2 is expected to grow at the highest CAGR during the forecast period. The growth of the level 2 segment can be attributed to the ongoing expansion of existing airports and the increasing focus of airport authorities on upgrading the A-SMGCS deployed at airports from level 1 to level 2. Level 2 A-SMGCS will add to surveillance provided in Level 1 and includes control and guidance functions with safety nets to protect runways and taxiways from any incursion by aircraft or ground vehicles.
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The greenfield segment of the market is projected to grow at a higher CAGR from 2018 to 2023
Based on investment, the greenfield segment of the A-SMGCS market is projected to grow at a higher CAGR than the brownfield segment during the forecast period. The growth of the greenfield investment segment can be attributed to increased investments for the development of greenfield airports in regions such as the Middle East and Asia Pacific.
The commercial segment of the market is estimated to account for a larger share in 2018
Based on sector, the commercial segment is estimated to account for a larger share of the A-SMGCS market than the defense segment in 2018. The growth of the commercial segment can be attributed to increasing aircraft movements at commercial airports across the globe.
Europe is expected to be the fastest-growing market for A-SMGCS during the forecast period
The A-SMGCS market in Europe is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the adoption of a regulation by the European Commission to ensure the proper implementation of the Pilot Common Project, which is the first set of Air Traffic Management (ATM) functionalities that have been identified for a wide-scale coordinated deployment of A-SMGCS at airports.
Some of the major companies providing A-SMGCS include Saab Group (Sweden), Indra Sistemas (Spain), Thales Group (France), ATRiCS (Germany), and ADB Safegate (Belgium). These key market players offer various A-SMGCS systems, including surface movement radar, ADS-B ground stations, MLAT surveillance sensors, vehicle tracking systems, and human machine interface (HMI) displays, among others. New product development, partnership, and contract are the major growth strategies adopted by these players to retain their position in the A-SMGCS market.
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