Air Traffic Control Equipment Market: Trends, Growth Opportunities, and Global Forecast 2023-2030
The global air traffic control equipment market size is expected to reach USD 15.88 billion by 2030, registering a CAGR of 8.3% during the forecast period, according to a new report by Grand View Research, Inc. Need for construction of new airports, and expansion & modernization of the existing ones to address increasing passenger & freight traffic is expected to increase air traffic control equipment demand. Advancements in microelectronics have provided ample growth opportunities for the air traffic control equipment market and further innovations in the domain are expected to buoy market growth over the forecast period. Owing to continuous need for monitoring air traffic, interruption in the activity is not feasible which makes replacement of obsolete ATC equipment a cumbersome task. In order to maintain the flow of traffic monitoring, new equipment is operated in parallel with the existing one before the latter is phased out completely, which p...