Elizabeth Leigh
A new market analysis report from Visiongain says the air traffic control equipment is set for record growth in the next 10 years due to increased demand for air travel and an ever-crowded airspace.
The “Air Traffic Control Equipment Market Forecast 2014-2024: Prospects for Next-Generation Air Traffic Control Systems, ADS-B, PBN and GNSS” report looked at several indicators and pegged global industry at $3.8 billion in value for 2014.
Visiongain said Monday that new technologies intended to update the infrastructure and improve safety and efficiency are driving growth in the sector but cautioned that development could be tempered by regulatory testing and trials.
“Whilst the market is expected to record growth over the next decade, it should be noted that because of the related factors of safety, concepts associated with air traffic control equipment is subject to extensive regulation on an international and national basis,” Visiongain said in its announcement of the report.
“Thus, growth remains moderate because the planning and introduction of new technology and equipment is influenced by timely trial operation and phased entry before widespread deployment.”
Company profiles in the report include those on Harris Corp., Honeywell, Lockheed Martin, Northrop Grumman and Raytheon.
