Transtech Control estimates the global market for these systems over the next decade at $10 billion.
Herzliya-based Transtech Control has signed an agreement with Lockheed-Martin (NYSE:LMT) to develop Surface Movement Guidance Control Systems (SMGCS) at airports. Transtech estimates the global market for these systems over the next decade at $10 billion.
Transtech, a subsidiary of Formula Vision Technologies (TASE:FVT), announced today that the agreement would also open new business opportunities in the market for transportation centers security control systems.
The International Air Transport Association (IATA) predicts that air traffic will again increase in the coming years, requiring advanced ground management systems for aircraft, as well as security systems for airports and transportation hubs.
Published by Globes [online] - www.globes.co.il - on November 3, 2003