Remote Towers Market Will Boost Overall Industry Growth by 2027
The global Remote Towers Market is on track to reach a substantial value of USD 584.3 million by 2027, exhibiting an impressive CAGR of 31.05% from 2020 to 2027. This robust growth is attributed to the increasing emphasis on the modernization of airports worldwide. According to Fortune Business Insights’ recent 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,” the market, valued at USD 40 million in 2019, is poised for significant expansion in the coming years.
Informational Source:
https://www.fortunebusinessinsights.com/remote-towers-market-102523
Major Key List Companies Operating in the Remote Towers Market:
- Frequentis Group
- Saab Group
- Searidge Technologies
- Indra Systems
- Avinor
- Thales Group
- Harris Corporation
- Indra Navia AS
- Leonard Martin Corporation
- Raytheon Corporation
The concept of a remote tower represents a modern approach where the management of an airport’s air traffic services is conducted from a location distinct from the traditional local control tower. This innovative system offers numerous advantages over conventional air traffic control setups situated directly at the airport. Remote towers come with advanced support tools that not only enhance safety but also optimize operational activities at the airport. Moreover, they present cost-saving alternatives and contribute to reducing maintenance expenses. Equipped with sensors, high-resolution cameras, and sophisticated hardware, these towers ensure the delivery of top-notch air traffic services and have gained widespread adoption at airports worldwide.
What does the Report Include?
The comprehensive market report encompasses both quantitative and qualitative analyses of various factors shaping market dynamics. It delves into key drivers and constraints that will influence the growth trajectory. The report offers insights into regional analyses, covering diverse regions impacting market expansion. A detailed examination of the competitive landscape is included, highlighting leading companies and their strategies, including product innovation, partnerships, and collaborations, fostering market growth from 2020 to 2027. To extract information about current trends and industry developments shaping future market growth, the research analyst has employed robust research methodologies, incorporating PESTEL and SWOT analyses.
DRIVING FACTORS
Increasing Focus on Modernization of Airports to Augur Growth
In 2019, global air passenger traffic surged by 4.2%, as reported by the International Air Transport Association. This uptick is creating significant pressure on airport facilities and ground services worldwide, leading to heightened air congestion over major cities. To address safety concerns and potential mishaps, airports are prioritizing the modernization of amenities and operational services. The increasing integration of advanced technologies like artificial intelligence (AI) and machine learning in airport modernization initiatives is anticipated to positively impact the global remote towers market in the forecast period.
Presence of Major Manufacturers in Europe to Aid Growth
Europe is poised to experience substantial growth, claiming the top position in the global remote towers market. This is primarily due to the concentration of key manufacturers like Thales Group, Saab, and Frequentis Group in the region. Meanwhile, North America is projected to secure the second spot in the market, driven by factors such as the widespread adoption of advanced technology and the presence of major companies committed to airport modernization initiatives from 2020 to 2027.
COMPETITIVE LANDSCAPE
LVNL Signs Contract with Saab to Supply Remote Tower Systems
In December 2019, Air Traffic Control the Netherlands (LVNL) made headlines by entering a significant 20-year partnership with Saab Digital Air Traffic Solutions (SDATS). This groundbreaking agreement entails the installation of remote towers at Maastricht Airport and Groningen Airport Eelde by Saab. Furthermore, Saab will establish a remote tower center at Amsterdam Airport Schiphol. The adoption of strategic initiatives like contract signings, partnerships, and mergers and acquisitions by companies is poised to play a pivotal role in driving the growth of the global remote towers market in the coming years.
