Air
traffic control equipments are
those tools that ensure the consistency, security and effectiveness
of aeroplanes. They execute major functions in airports and are
responsible for preventing aircrafts from colliding
in air or on land. The worldwide air traffic control equipment market
was predicted to have garnered revenue worth around USD 4, 160 million in 2014.
It is estimated to
rise during the projected phase, at about 5 percent CAGR. The market is
anticipated to achieve about USD 5, 519 million by the end of the said phase.
Air traffic is estimated to increase doubly in the coming fifteen
years. In present circumstances, inspiteof indecisive fiscal conditions,
commercial aviation is gaining wide momentum.
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Growing passengers
and movement of aeroplanes have led to development of new
airports and renovation of existing ones. This continual development and
renovation is furthering the demand for the air traffic control equipment
market. Some of the hindrances observed in this market include high
safeguarding required for ATC equipments and their high costs.
The other hindrances
include absence of capable labor and effective operations at peak hours. Some
other factors driving the demand for the air traffic control equipment market
include technological enhancements and demand for greater safety. Growing
demand for travelling via air is also estimated to propel the market ahead.
The air traffic
control equipment market is expected to witness good growth in the future ten
years. Advancements in microelectronics have offered prospects for the further
increase of the market. They are anticipated to drive the same over the
projected phase. The air traffic control equipment market is fragmented into
three categories. These are applications, products and geographical regions.
North America and
Europe occupied a major share in the income of the market in 2013. The air
traffic control equipment market of Asia Pacific is predicted to
display prospects of high development. This is owing to increasing
demand for effective infrastructure.
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