DALLAS, July 31, 2014 /PRNewswire/ --
The report provides an in-depth analysis of the "Air Traffic Control Equipment Market by product types (Communication, Navigation, and Surveillance), by Geography (North America, Europe, Latin America, Asia-Pacific, Middle East, and Africa), and by Country. Forecast Analysis (2014-2020)", published by MarketsandMarkets, The ATC equipment market is projected to reach $5519.51 Million by 2020, growing at a high CAGR of 4.82% from 2014-2020. Air traffic is expected to be double in next 15 years. In current scenario, despite uncertain economic conditions, commercial aviation is experiencing continuous growth in aircraft movements.
Browse 58 market data Tables and 23 Figures spread through 134 pages and in-depth TOC on "Air Traffic Control Equipment Market".
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The increase in passenger traffic and aircraft movement has resulted into expansion of airports and construction of new airports to meet the future demand of air traffic. The airport construction and expansion need further ATC equipment, as well as its sub-systems to handle increased aircraft movements. Therefore, the construction of new airports and modernization of existing airports have been a real growth factor for the ATC equipment market. The restraints identified in the market include high cost and maintenance of the ATC equipment. The challenges faced by this market include lack of efficient operations at peak hours and lack of skilled labor.
Among the three equipment types including communication, navigation, and surveillance, the communication equipment market is expected to account for the highest market share throughout the forecast period.
The global Air Traffic Control Equipment Market is segmented into three categories including product types, geography, and country. This report divides the overall market into geographical segments, namely, North America, Europe, Asia Pacific (APAC), the Middle East, Latin America, and Africa. Europe and North America currently accounts for the highest market share as compared to other regions. Given the forecast period, the APAC region is expected to grow at a higher CAGR and is expected to account for the highest market share by 2020.
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The leading companies in the global Air Traffic Control Equipment Market covered in the report include Thales (France), Harris Corporation (U.S.), Indra Sistemas (Spain), Lockheed Martin (U.S.), and Raytheon (U.S.).
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