The Global Air Traffic Control Equipment Market Will Show Momentous Growth In Asia-Pacific (APAC) Region By 2020
The global Air Traffic Control (ATC) equipment market has been estimated at $4160.2 million in 2014 and is expected to grow at a CAGR of 4.82% to reach $5519.5 million by 2020. Currently, the commercial ATC equipment market is dominated by North America and Europe owing to presence of large airports in these regions. However, Asia-Pacific (APAC) and the Middle Eastern countries are investing heavily in construction and modernization of airports, given the increasing passenger traffic. The global ATC equipment market in APAC and the Middle East will grow significantly, and reach its peak by 2020.
Countries such as China, Japan, India, Brazil, and U.A.E. are expected to register higher growth levels in the market throughout the forecast period.
The global ATC equipment market in the APAC region is expected to account for high growth, as the Revenue Passenger Kilometers (RPK) and aircraft movements is expected to be twice as compared to other regions. China is expected to be the fastest growing market in the forecast period, owing to huge investments in construction of new airports as well as modernization of the existing airports. Moving forward, construction of new airports will add revenue to the Air Traffic Control equipment market with the installation of new ATC systems.
Related Reports:
Air Traffic Control Equipment Market by Product Types (Communication, Navigation, and Surveillance), Geography (North America, Europe, Latin America, Asia-Pacific, Middle East, and Africa), and by Country. Forecast Analysis (2014-2020)
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