The Europe air traffic control market is expected to register a compound annual growth rate (CAGR) of 3.3% from 2024 to 2029 and worth USD 3.41 billion by 2029 from USD 2.9 billion in 2024.
One of the major driving factors that help the growth of the Europe Air Traffic Control market is the increasing demand for reliable air traffic control operations and safety, which is also supposed to promote the development of the market of Air traffic control in this region. The growth of the European market is majorly driven by the factors such as growth in demand for air travel and aerial connectivity in different nations of Europe. Growth in demand for aerial connectivity and air travel to introduce new routes and increase flight movements are some of the primary growth factors of the Air Traffic Control market in Europe. Increasing up-gradation of existing airport infrastructure with new and advanced air traffic management systems used to provide more efficient air traffic services is another major growth factor in the Europe Air Traffic Control market.
The European region had the second largest share of the global market in 2023 and is expected to remain its place in the global market during the forecast period owing to rapid growth in passenger traffic encouraged airlines to induct the new aircraft into their active fleet, which resulted in an increased aircraft movement at airports, which is likely to propel the growth of the market of Air Traffic Control in Europe region.
Various operational challenges in air traffic management and related modernization projects and the high cost of the equipment are some of the significant growth challenging factors in the Europe Air Traffic Control market that hinders the development of revenue rate.
Due to the Coronavirus, the Europe air traffic control market faces difficulties and witnessed huge financial losses and the related industries due to the financial crisis they had met. However, as per the analysis from industry experts, they predict that the market will boost up and be back to the normal stage since the vaccine has been released in most countries. As we all know, in most countries, the government has already lifted the lockdown and given the manufacturing companies permission to start their businesses with strict rules and regulations. Therefore, as the companies have started their manufacturing units, the market of Europe Air Traffic Control will get back to the normal stage and also earn profits soon.
Companies playing a significant role in the European Air Traffic Control market are Indra Sistemas (Spain), Frequentis AG (Australia), Harris Corporation (US), Adacel Technologies (Australia), Raytheon Company (US), BAE System (UK), Thales Group (France), Leonardo S.p.A (Italy), Honeywell Inc (US), Saab AB (Sweden), Northrop Grumman Corporation (US), and NATS Holding (UK).
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