Pune, India, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The global remote towers market size is expected to reach USD 584.3 million by 2027 while exhibiting a stellar CAGR of 31.05% between 2020 and 2027. The market was USD 40 million in 2019 and is likely to witness significant growth in the forthcoming years.
This is attributable to the increasing focus on the modernization of airports across the globe. Fortune Business Insights, in its latest report, titled “Remote Towers Market Size, Share and Industry Analysis by Operation (Single Multiple and Contingency), By System (Airport Equipment, Remote Towers Modules, Network Solutions), By Application (Communication, Information & Control, Surveillance, Visualization), and Regional Forecast, 2020-2027.”, observes that
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The remote towers market has experienced significant growth in recent years as a result of advancements in technology and increasing demand for cost-effective air traffic control solutions. Remote towers enable air traffic controllers to remotely monitor and manage multiple airports from a centralized location, providing greater flexibility and efficiency in air traffic management. This technology offers numerous benefits, including reduced infrastructure costs, increased safety, and improved operational efficiency. The market is expected to continue growing in the coming years, driven by the increasing need for cost-effective air traffic management solutions and the development of advanced remote tower technologies.
List of the Companies Operating in the Market:
- Frequentis Group
- Saab Group
- Searidge Technologies
- Indra Systems
- Avinor
- Thales Group
- Harris Corporation
- Indra Navia AS
- Leonard Martin Corporation
- Raytheon Corporation
Remote tower is a modern concept wherein the overall air traffic services of an airport are managed at a different place than the local control tower. They offer several benefits over the conventional air traffic control systems located at the airport. They provide extensive support tools that enhances the safety and improves the operational activities of the airport. Additionally, they provide several cost-saving options and aid in reduction of maintenance costs. These towers are equipped with sensors, high-resolution cameras, and hardware that deliver optimum quality air traffic services and are adopted widely across several airports across the globe.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 31.05 % |
| 2027 Value Projection | USD 584.3 Billion |
| Base Year | 2019 |
| Remote Towers Market Size in 2019 | USD 40 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 200 |
| Segments Covered | By Operation Analysis, By System Analysis, By Application Analysis |
| Remote Towers Market Growth Drivers | Increasing Focus on Modernization of Airports to Augur Growth |
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What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and the adoption of strategies by them to innovate novel products, announce partnerships, and collaborate that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
DRIVING FACTORS
Increasing Focus on Modernization of Airports to Augur Growth
According to the International Air Transport Association, global air passenger traffic in 2019 rose by 4.2% when compared to 2018. Increasing air passenger traffic is placing a heavy strain on the terminal and ground facilities across several airports. Besides, this is leading to dangerous air congestion over major cities globally. To prevent any untoward incidents and mishaps, the airports are increasingly focusing on modernizing airport amenities and upgrading operational services. Growing adoption of technology such as artificial intelligence (AI) and machine learning in the modernization process of the airports is expected to bode well for the growth of the global remote towers market during the forecast period.
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REGIONAL INSIGHTS
Presence of Major Manufacturers in Europe to Aid Growth
Among all regions, the market in Europe is anticipated to witness considerable growth and hold the highest global remote towers market share during the forecast period. This is attributable to the presence of several manufacturers such as Thales Group, Saab, and Frequentis Group in the region. North America, on the other hand, is expected to hold second position in the market during the projected horizon. This is ascribable to factors such as the increasing adoption of modern technology owing to the presence of major companies that are focusing on modernization of airports between 2020 and 2027.
COMPETITIVE LANDSCAPE
LVNL Signs Contract with Saab to Supply Remote Tower Systems
In December 2019, Air Traffic Control the Netherlands (LVNL) announced that it has signed a 20-year agreement with the Saab Digital Air Traffic Solutions (SDATS). According to the LVNL, the contract involves an agreement by Saab, wherein it will install remote towers at the Maastricht Airport and Groningen Airport Eelde. Additionally, Saab will construct a remote tower center at the Amsterdam Airport Schiphol. Adoption of strategies such as contract signing, partnership, and merger and acquisition by the companies is expected to contribute to the global remote towers market growth in the forthcoming years.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Remote Towers Market
- Impact of COVIC-19 Pandemic on the Global Remote Towers Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
TOC Continued…!
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