Market Forecast By Product (Communications Equipment, Navigation Equipment, Surveillance Equipment, Air Traffic Control Equipment Application Outlook (USD Million, 2012 - 2020), Commercial Aircraft, Private Aircraft, Military Aircraft) And Competitive Landscape
Product Code: ETC432148 | Publication Date: Nov 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Bangladesh Air Traffic Control (ATC) Equipment Market is projected to grow in the coming years by the country's growing economy and increasing passenger traffic. However, the increasing congestion in the region and lack of infrastructure are the major challenges that hampers the Bangladesh Air Traffic Control (ATC) Equipment Market Growth. Additionally, the Bangladesh has been witnessing rapid economic growth over the past few years due to increased investment in the manufacturing and infrastructure sectors. Which has led to an increase in passenger traffic, as well as an increase in aviation sector investments. Also, the country has a well-developed network of airports and ATC facilities, which is expected to further support the Bangladesh Air Traffic Control (ATC) Equipment Industry. However, limited availability of qualified personnel and lack of infrastructure such as instrument landing systems (ILS) are hampering the market growth.
According to 6Wresearch, Bangladesh Air Traffic Control (ATC) Equipment Market is expected to grow during 2022-2028. The Asia-Pacific Air Traffic Control (ATC) Equipment is estimated to account for the highest share in terms of revenue in the Air Traffic Control (ATC) Equipment Market attributed to high growth rates observed in this region over the past few years. In general, Air traffic control systems are the backbone of an efficient and safe aviation system. The development and deployment of new technologies has led to the evolution of air traffic control equipment. However, improper infrastructure and limited availability of highly trained labor restraining the market growth.
The global pandemic affected the Bangladesh Air Traffic Control (ATC) Equipment Market and almost every industry in various ways. The COVID-19 pandemic has further affected the flights owing to the travel restrictions and lockdown measures. Moreover, the restrictions on international and domestic flights resulted in lowering demand for Bangladesh Air Traffic Control (ATC) Equipment Market share.
The market is segmented based on Technology is bifurcated into Communications Equipment, Navigation Equipment, Surveillance Equipment, Air Traffic Control Equipment Application Outlook (USD Million, 2012 - 2020), Commercial Aircraft, Private Aircraft, and Military Aircraft. Each of these sub segments are growing at rapid pace rate owing to the surging need to control air traffic.
The report offers a comprehensive study of the subsequent market segments: