Remote Towers Market will exhibit a CAGR of 31.05% during the forecast period (2020 – 2027), and reach USD 584.3 million by 2027, and the Market value as per 2019 was USD 40 million
Fortune Business Insights™ in a new report, titled, “Remote Towers Market Size, Share and COVID-19 Impact Analysis, By Operation Type (Single Multiple and Contingency), By System Type (Airport Equipment, Remote Towers Modules, Network Solutions), By Application (Communication, Information & Control, Surveillance, Visualization), and Regional Forecast,2020-2027.”
Remote Towers Market Drivers and Restraint:
increasing investment in Airport Infrastructure Development to Augment Growth
The aviation industry witnessed strong growth from the past few years in various regions. This rapid growth is increasing the number of air passengers owing to affordable flight rate in various countries by the airline companies. The growing demand for air travel and freight services is projected to increase the demand for remote towers. According to the report of the International Air Transport Association (IATA), in 2018, global airlines carried more than 4.3 billion passengers annually, and it is projected to reach around 7.2 billion passengers by 2035. Also, around 58 million tonnes of freight were carried or transported through airlines around the globe. The rising demand for the expansion and development of airport infrastructure is attracting investment from companies across the globe. According to the International Air Transport Association (IATA), the global airport infrastructure investment of around USD 1.5 trillion is expected to be spent on construction, modernization, and development by 2030. These factors are likely to offer several opportunities for market growth during the forecast period.
Increase in Modernization and adoption of the remote and virtual tower to boost industry growth
Technological advancement in the air traffic control (ATC) system is expanding the capabilities for the aviation industry by exploring new avenues and numerous opportunities for the major players across the globe. In April 2019, Frequentis Company entered in partnership with the Deutsche Flugsicherung (DFS), a prominent air-navigation service provider in Germany. This collaboration is aimed at developing the first tower at Saarbrucken Airport. This facility is 450 Km away at Leipzig for handling air traffic movement watched through a 360-degree camera system installed at the airport area. In addition to this, the ongoing development of these towers is under construction in Norway to control around five small airports. The project is expected to complete by the year 2020 and is aimed to control more than 20 airports in the forthcoming years. Moreover, Ireland completed a first operational trial for controlling two airports Cork and Shannon, from the remote tower center at Dublin Airport. These factors are projected to fuel the growth of the remote and virtual tower market during the forecast period.
List of Key Players Covered in the Remote Towers Market Report:
- Frequentis Group
- Saab Group
- Searidge Technologies
- Indra Systems
- Thales Group
- Harris Corporation
- Indra Navia AS
- Leonard Martin Corporation
- Raytheon Corporation
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Some of the key industry developments in the Remote Towers Market Include:
- December 2019–Avinor, a government-owned company handling airports on Norway, has started the testing project for remote control technology. The goal of a short runway airport network is needed to be equipped with communication technology and a camera network for remote-controlled operation. The first landing was witnessed on the island of Rost, and air traffic control was located 100 to 60 miles away.
- April 2019 –Frequentis entered in collaboration with Deutsche Flugsicherung DFS, a German air navigation provider. This partnership was aimed to operate the country’s first remote tower for handling Saarbrucken Airport from a remote control center away around 450 Km.