A new MarketsandMarkets report predicts that the market for air traffic control equipment will be worth $5.52 billion by 2020 through a compound annual growth rate of 4.82 percent as air traffic continues to rise.
The market research firm said Thursday the growth in demand for air traffic control equipment is due to airport expansions resulting from increased aircraft movement and passenger traffic.
Restraints include equipment cost and maintenance as well as peak hour operations and low numbers of skilled workers, MarketsandMarkets said.
The report identified these companies as among the key players in the ATC market:
- Indra Sistemas
- Lockheed Martin
- Northrop Grumman