Pune, Aug. 17, 2020 (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. 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 COVID-19 Impact 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 the market was worth USD 40 million in 2019 and is likely to witness significant growth in the forthcoming years.
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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.
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 adoption of strategies by them to innovate novel products, announce partnerships, and collaboration 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.
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DRIVING FACTORS
Increasing Focus on Modernization of Airports to Augur Growth
According to the International Air Transport Association, the 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 the 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.
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 tower 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 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 these 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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List of the Leading Companies Operating in the Remote Tower Market are:
- Frequentis Group
- Saab Group
- Searidge Technologies
- Indra Systems
- Avinor
- Thales Group
- Harris Corporation
- Indra Navia AS
- Leonard Martin Corporation
- Raytheon Corporation
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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
- Global Remote Towers Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Operation
- Single
- Multiple
- Contingency
- Market Analysis, Insights and Forecast – By System
- Airport Equipment
- Remote Towers Modules
- Network Solutions
- Market Analysis, Insights and Forecast – By Application
- Communication
- Information & Control
- Surveillance
- Visualization
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Middle East
- Rest of the world
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Air Traffic Control Market Size, Share and Industry Analysis, by Point of Sale (Hardware, Software, and Services), By Airspace (Air Route Traffic Control Centers (ARTCC), Terminal Radar Approach Control (TRACON), Air Traffic Control Tower (ATCT), and Remote Tower (RT)), By Application (Communication, Navigation, Surveillance, and Automation), By Airport Size (Small, Medium, and Large),and Regional Forecast, 2020- 2027
Air Traffic Management & Consulting Market Size, Share and Covid-19 Impact Analysis, by System (Air Traffic Services, Airspace Management, Air traffic Flow Management, Aeronautical Information Management), By Component (Hardware, Software), By End Use(Commercial, Tactical), and Regional Forecast, 2020- 2027
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