In a recent published report, Kenneth Research has updated the market report for Air Traffic Control Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Air Traffic Control Market products.
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According to the statistics by the Aerospace Industries Association (AIA), the aerospace and defense industry, in the United States, during the year 2018, generated a revenue worth USD 374 billion in value-added products and services.
Global Air Traffic Control Industry was valued at USD 32.6 Billion in the year 2017. Global Air Traffic Control Industry is further estimated to grow at a CAGR of 10.44% from 2018 to reach USD 71.84 Billion by the year 2025. Europe region holds the highest Industry share in 2017 and Asia-Pacific Industry is considered as the fastest growing Industry in the forecasted period. At a country level, Germany is projected to grow strongly in the coming years.
Major Market players in Air Traffic Control Industry are Lockheed Martin Corporation, Thales Group, Honeywell International Inc., Northrop Grumman Corporation, Indra Sistemas, S.A., Cyrrus Limited, Harris Corporation, Leonardo S.P.A, Saipher ATC, NATS Limited, Searidge Technologies, BAE Systems, and other 10 more companies detaild information is provided in research report. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Air Traffic Control Industry:
Strength:
The rise in the number of airports across the globe
Weakness:
High production and maintenance cost
Opportunities:
Growing commercial aviation industry
Threats:
Synchronizing and integrating traffic control system
The major shares of the Industry come from Communication type, by application in Global Air Traffic Control Industry. On the other hand, Commercial, by sector for this Industry is expected to grow at highest CAGR during the year 2018-2025.
Air Traffic Control Industry Segmentation:
By Sector:
*Defense
*Commercial
By Application:
*Navigation
*Automation
*Communication
*Surveillance
By Solution:
*Software
*Hardware
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Africa
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