SAN JOSE, Calif., Oct. 08, 2018 (GLOBE NEWSWIRE) -- According to a new market research report published by Credence Research, “Air Traffic Control Equipment Market (by End-use (Defense & Commercial), by Equipment Type (Communication Equipment, Navigation Equipment, Surveillance Equipment, and Others), by Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2018 -2026”, the global air traffic control equipment market is expected to expand at a CAGR of 5.8% during the forecast from 2018 to 2026.
Market Insights
Generally deployed at air traffic control centers, air traffic control equipment help air traffic controllers to monitor and manage the speed, position, and altitude of aircrafts in assigned airspace. The chief purpose of air traffic control equipment is to expedite the flow of air traffic, prevent collisions, coordinate landing and take-off operations, and provide other requisite support to air pilots. Improving standard of living and ensuing rise in business and recreational air travels has increased the number air traveler’s worldwide. This has compelled airport authorities to strengthen air traffic control center infrastructure in a bid to mitigate risk of mid-air collision, enhance operational performance, and achieve cost reduction. Advent of digitalization and advancements in microelectronics and data processing technologies are triggering replacement of conventional air traffic control equipment with the state-of-the-art variants. In addition, aviation legislations worldwide have necessitated airport authorities to modernize their communication, navigation, and surveillance infrastructure, driving new air traffic control equipment installations. While developed economies including North America and Europe are projected to witness steady growth in revenue stream, Asia Pacific and the Middle East will register a considerable uptrend on the back of several upcoming airport projects and consequent demand for airport control center infrastructure.
Some of the leading manufacturers profiled in the study include Raytheon Company, Northrop Grumman Corporation, Searidge Technologies Inc., Frequentis AG, NavAero Inc., Becker Avionics Inc., Lockheed Martin Corporation, Indra Sistemas SA, Advanced Navigation & Positioning Corporation Inc., Harris Corporation, BAE Systems Plc, Thales Group, and Cobham Plc among others. Air traffic control equipment manufacturers across the globe are determined to build strong relations with the government and the concerned airport authorities since major portion of air traffic control equipment sales takes place through contracts. For instance, the Airports Authority of India (AAI) recently awarded a US$ 141 Mn contract to Harris Corporation to upgrade India’s air traffic management communications infrastructure. As a part of this contract, Harris Corporation will be responsible for enhancing security, upgrading network operations, and improve quality, performance, and reliability of India’s air traffic management (ATM) network.
Browse Full Report With TOC, Figures And Tables @ https://www.credenceresearch.com/report/air-traffic-control-equipment-market
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