The global remote towers market size was valued at USD 40 million in 2019 and is expected to touch USD 584.3 million by 2029, exhibiting a CAGR of 31.05% during the forecast period. Reduced annual operating and maintenance costs and increasing standardizations of remote control tower technologies are expected to foster market growth. Fortune Business Insights™ provides this information in its report titled “Remote Towers Market, 2020-2027.”
Informational Source:
https://www.fortunebusinessinsights.com/remote-towers-market-102523
List of Key Players Profiled in the Market Report
- Frequentis Group (Vienna, Austria)
- Saab Group (Stockholm, Sweden)
- Searidge Technologies (Singapore)
- Indra Systems (Spain)
- Avinor (Oslo, Norway)
- Thales Group (Paris, France)
- Harris Corporation (Florida, U.S.)
- Indra Navia AS (Norway)
- Leonard Martin Corporation (Rhode Island, U.S.)
- Raytheon Corporation (Massachusetts, U.S.)
Segmentation
Contingency Segment to Dominate Attributable to Strong Demand for Air Traffic Control Solutions
By operation analysis, the market is segmented into single, multiple, and contingency.
The contingency segment is expected to dominate the market share because of the strong demand for air traffic control solutions for military and civil applications. Furthermore, the increasing demand for cost-effective air traffic management solutions may foster segmental growth.
Modules Network Segment to Dominate Attributable to Rising Installation of Remote Tower Module Networks
By system analysis, the market is trifurcated into airport equipment, remote tower modules, and network solutions.
The modules network segment is expected to dominate because of the rising installation of remote tower module networks. Furthermore, the increasing demand for air traffic management from numerous small and medium airports is likely to elevate remote towers industry growth.
Flight Data Monitoring Segment to Dominate Attributable to Strong Demand for Control and Information Applications
Based on application, the flight data monitoring segment is expected to dominate due to the strong demand for control and information applications. Moreover, the rising demand for real-time tracking is expected to foster industry growth.
Geographically, the market is clubbed into North America, Europe, Asia Pacific, Middle East & Africa, and the rest of the world.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Strong Airport Infrastructure Development to Propel Market Progress
Remote towers incorporate sensors, high-resolution cameras, panoramic screens, and other hardware that allow them to locate controller systems. Controller systems manage, monitor, and track the number of airports by utilizing a single remote virtual tower. Strong airport infrastructure development may enhance the demand for towers. Further, rising air passengers and affordable air travel is expected to enhance remote tower adoption. Moreover, increasing investments from companies globally is likely to enhance the demand for the towers. These factors may drive the remote towers market growth.
However, increasing security breaches and cyber threats may hinder the industry’s growth.
Regional Insights
Presence of Numerous Virtual Tower Manufacturers to Foster Growth in North America
North America is expected to dominate the remote towers market share because of the presence of several virtual tower manufacturers. The market in North America stood at USD 16.7 million in 2019 and is expected to gain a huge portion of the global market share in the upcoming years. Furthermore, the presence of a developed air traffic management system may foster industry growth.
In Asia Pacific, the rising medium and small companies in India and China are expected to foster the demand for remote towers. These factors may propel industry growth in the region.
In the Middle East and Africa, strong investments in airport construction industries are likely to foster the remote towers industry growth.
Competitive Landscape
Major Players Enter Collaborations to Elevate Service Offerings
The prominent companies operating in the market enter collaborations to elevate their service offerings. For example, Frequentis partnered with Deutsche Flugsicherung DFS in April 2019 to operate Germany’s first remote tower responsible for operating the Saarbrucken Airport using a remote control center miles away. Further, major players operating in the market devise expansions, research and development, innovations, novel product launches, and mergers to elevate their market position and enhance annual revenues.
