Global Railway Signalling System Market

Global Railway Signalling System Market Size, Share, Growth Analysis, By Technology Type(Automatic Train Protection (ATP) System, Positive Train Control (PTC) System), By Application Type(Inside the Station, Outside the Station) - Industry Forecast 2024-2031

Report ID: SQSG45F2010 | Region: Global | Published Date: February, 2024
Pages: 264 | Tables: 63 | Figures: 75

Global Railway Signalling System Market Insights

Global Railway Signalling System Market size was valued at USD 12.8 billion in 2019 and is poised to grow from USD 13.5 billion in 2023 to USD 21.86 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

One of the most important parts of the various systems that make up the overall railway system is the signal. In order to decrease the number of accidents, this technique is employed to maintain rail traffic and keep the rail lines clean for other trains. Due to the growing number of rail commuters, the adoption of data analytics, the internet of things, cloud computing, and other cutting-edge technologies that bring digital transformation to the railway industry, numerous signalling and train control communication systems have been evolving over time.

To update the signalling systems all throughout India, for instance, the Indian Railways aims to install a new signalling system project. The Automatic Train Protection (ATP) system, which assists in maintaining the permitted speed limits without the driver's intervention, and a 4G-based mobile train radio communication system (MTRC), which is used for emergency communications, are just two examples of cutting-edge technologies that have been implemented as part of the signalling system's modernization.

US Railway Signalling System Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Railway Signalling System Market size was valued at USD 12.8 billion in 2019 and is poised to grow from USD 13.5 billion in 2023 to USD 21.86 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The global railway signalling system market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'Alstom', 'Hitachi Rail Limited ', 'Thales Group ', 'Ansaldo STS', 'Bombardier Transportation', 'Siemens AG', 'ABB Ltd.', 'Advantech Co., Ltd.', 'CRRC Corporation Limited', 'Cubic Transportation Systems, Inc.', 'EKE-Electronics Ltd.', 'Funkwerk AG', 'HUBER+SUHNER AG', 'JMA Wireless', 'Kyosan Electric Manufacturing Co., Ltd.', 'Mitsubishi Electric Corporation', 'Nokia Corporation', 'Omron Corporation', 'The Go-Ahead Group plc', 'Westinghouse Air Brake Technologies Corporation (Wabtec Corporation)'

In order to control rail traffic, communication-based train control, or CBTC, is used by autonomous trains. CBTC enables the communication between trains and devices on the tracks. This technology guarantees increased safety and higher efficiency of the device as well as the passengers by enabling a comprehensive identification of bogey alignments, train positions, and track stability. Compared to road transportation, autonomous trains operate more often and can carry more people and more cargo at a quicker pace. Additionally, since autonomous technology might take the place of both the train drivers and the control officers, automation in trains can significantly increase the cost-efficiency of railway operations.

The signalling method has to have tools that can make data mining and analysis more accessible and quicker in order to keep the railway network operating at its best. To gather information or data pertaining to the assets of the railway signalling systems, a distribution and data gathering system based on cloud computing technology is presently being suggested. Offering greater transparency and an increased degree of interaction, connectivity, and digitalization will improve the train system and maybe aid passengers in managing and maximizing their end-to-end mobility.

In 2021, North America held the largest global railway signalling system market share. Due to the well-established high-speed railways and the already-installed cutting-edge signal-regulating systems in all the main cities and nations, it is anticipated to increase and demonstrate a consistent rise in the future.

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