New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Remote towers Global Market Report 2023" - https://www.reportlinker.com/p06464196/?utm_source=GNW
, Kongsberg Gruppen, and Rohde & Schwarz GmbH & Co KG.
The global remote towers market is expected to grow from $0.17 billion in 2022 to $0.22 billion in 2023 at a compound annual growth rate (CAGR) of 24%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The remote towers market is expected to reach $0.56 billion in 2027 at a CAGR of 26.8%.
The remote towers market includes revenues earned by entities by providing remote monitoring activities, communication, and data handling.The market value includes the value of related goods sold by the service provider or included within the service offering.
The remote towers market also includes the sales of virtual remote towers and mobile remote towers which are used in providing remote tower services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Remote towers are systems that enable the provision of aerodrome air traffic control (ATC) or flight information service (FIS) from a location other than the aerodrome while maintaining an operational safety level comparable to that possible using a manned tower at the aerodrome to monitor both air and ground movements. This technology has numerous safety advantages, such as viewing tools that improve air traffic controllers’ situational awareness.
Asia-Pacific was the largest region in the remote towers market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in remote towers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of systems of remote towers include airport equipment and remote tower module and network solution.Airport equipment includes engine, propeller, appliance, and all records and documents pertaining to such equipment that are required to be surrendered or returned under the terms of any applicable security agreement, lease, or contract.
They are operated in various types such as single, multiple, and contingency for applications in communication, information and control, flight data handling, surveillance, and visualization for use in end-users such as military airports and commercial airports.
The increasing number of passengers flying is expected to propel the growth of the remote-tower market going forward.Flying passenger traffic refers to the transportation of passengers by both aircraft and positioning flights.
Remote towers give controllers a clearer and more thorough view of the airport and nearby airspace thanks to modern camera and sensor technology, which can result in safer operations and greater passenger trust.Hence, an increase in air travel is boosting the growth of the market.
For instance, in 2022, according to the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australia-based economic research, analysis, and statistics providing organization, total passenger movements increased from 1.23 million in November 2021 to 16.68 million passengers In November 2022. Further, in December 2021, according to Bureau Of Transport statistics, Passengers on US airlines increased 119% from October 2020 to October 2021. Therefore, the increasing number of passengers flying is driving the growth of the remote tower market.
Technological advancements are a key trend gaining popularity in the remote towers market.Companies operating in the remote towers market are adopting new technologies to sustain their position in the market.
For instance, in February 2020, Indra, a Spain-based defense electronic equipment, simulation, and automatic test equipment and information technologies company, launched artificial intelligence based digital remote-tower technology.It uses digital technologies; a remote or digital tower control gives operators a view of the airfield and its surroundings.
It is the first system in the world to include artificial intelligence features that allow for the automatic execution of crucial air control procedures.It uses deep learning to increase take-off and touchdown maneuver efficiency and safety.
Managing multiple aerodromes from a single operational hub allows up to a 50% reduction in tower building and usage costs.
In February 2022, Adacel TechnoloGies Limited, an Australia-based software, and system designer for sophisticated, real-time automation, communications, and simulation, Virtual ATC Tower from Cybernetica for an undisclosed amount.With the acquisition, accelerates Adacel’s expansion into the rapidly expanding market segment for virtual ATC tower solutions and the new solution The acquisition expedites Adacel’s entry into the rapidly expanding virtual ATC tower solutions market segment.
Cybernetica is an Estonia-based research and development company offers remote tower solution to remotely control air traffic.
The countries covered in the remote towers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The remote towers market research report is one of a series of new reports that provides remote towers optical components market statistics, including remote towers optical components industry global market size, regional shares, competitors with a remote towers optical components market share, detailed remote towers optical components market segments, market trends and opportunities, and any further data you may need to thrive in the remote towers optical components industry. This remote towers optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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