Portland, OR, Sept. 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global remote towers market was estimated at $318.7 million in 2021 and is expected to hit $1.03 billion by 2031, registering a CAGR of 11.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Remote Towers Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $318.7 Million |
| Market Size in 2031 | $1.03 Billion |
| CAGR | 11.7% |
| No. of Pages in Report | 389 |
| Segments Covered | Offerings, Application, End-User, Operation Type, and Region. |
| Drivers | Growing need for better airspace management systems |
| Rise in demand for cost-effective air traffic control solution | |
| Opportunities | Digitalization in air traffic management |
| Restraints | Threat of cyber security and data breach |
Covid-19 Scenario-
- The Covid-19 outbreak forced governments across the globe to implement strict lockdown measures and ban on the import–export of raw material items, especially in the initial period. This gave way to sudden decline in the availability of important raw materials.
- As a result of interrupted supply chains, aviation production and sales suffered tremendously, which in turn impacted the global remote towers market negatively. However, the market got back on trac soon.
The global remote towers market is analyzed across Offerings, Application, End-User, Operation Type, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on offerings, the hardware segment held nearly half of the total market revenue in 2021, and is expected to dominate by 2031. The services segment, however, would manifest the fastest CAGR of 16.2% throughout the forecast period.
Based on application, the communication segment garnered nearly two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 12.6% throughout the forecast period.
Based on operation type, the contingency segment held more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 12.8% throughout the forecast period.
Based on region, the global remote towers market across Asia-Pacific generated more than one-third of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also manifest the fastest CAGR of 12.4% during the forecast period. The other provinces analyzed through the report include North America, Europe, and LAMEA.
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The key market players analyzed in the global remote towers market report include EIZO Corporation, ADACEL, Becker Avionics GmbH, Leidos, Frequentis Group, Indra Sistemas, Kongsberg Gruppen, Leonardo S.P.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, RETIA AS, L3Harris Technologies, ROHDE & SCHWARZ, DFS Deutsche Flugsicherung GmbH,, Thales Group SAAB AB, and Searidge Technologies. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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