ATC Market In Asia-Pacific Region To Grow At The Highest CAGR During The Forecast Period
By Ron Chen, Bureau Chief, Asia
The Asia-Pacific region is estimated to account to rise at highest CAGR in forecast period from 2022 to 2027, owing to the expansion of various large airports along with the implementation of next-generation air traffic control (ATC) systems.
For instance, according to the ACI World report, Global Outlook of Airport Capital Expenditure 2021, Asia Pacific comprises about US$ 1.3 trillion of needed 2021 to 2040 CAPEX, more than 50 per cent of the global CAPEX required. This reflects the swift passenger growth in the region and subsequent demand to develop new greenfield airports and modernize and expand existing airport infrastructure. New greenfield airport construction (44% of the total CAPEX required in the region) will be needed to support the capacity needs of passenger growth across the region. This is expected to drive the demand for new installations of ATC solutions.
The Middle East’s aviation industry has benefited greatly from the regions strategic location at the crossroads of major economies in Asia, Africa, and Europe. Due to its geographical location, Middle Eastern carriers can easily connect to any continent in the world: aircraft can reach almost all of Asia, Africa, and Europe within an eight-hour flying range from the well-established international hubs of Doha, Dubai, and Abu Dhabi.
Key Players of Air Traffic Control (ATC) Market:
Major players in the Air traffic control (ATC) market are Thales Group (France), Raytheon Technologies Corporation (US), L3Harris Technologies, Inc. (US), Indra Sistemas, S.A. (Spain), and Saab AB (Sweden). The report covers various industry trends and new technological innovations in the Air traffic control (ATC) market for the period, 2018-2027. https://www.marketsandmarkets.com
