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Remote Tower Market to Grow at 31.05% CAGR till 2027; Technological Developments in Remote Tower to Favor Growth

August 14, 2020 | Aerospace & Defense

The global remote tower market size is expected to reach USD 584.3 million by 2027. This is attributable to growing adoption of advanced technology and increasing innovations by the manufacturers across the globe. Fortune Business Insights, publishes this information, in its latest 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.” The report further mentions that the market was worth USD 40 million in 2019 and is likely to exhibit a augmented CAGR of 31.05% between 2020 and 2027.


Raytheon Corp Collaborates with Frequentis to Consolidate Airport Modernization Efforts


Fortune Business Insights reports that there are several companies striving to dominate the global market share and maintaining stronghold. Among the companies are Raytheon Corporation and Frequentis that are trying to cement their position in the fiercely competitive global marketplace. For instance, in March 2019, Raytheon Corp announced its plan to collaborate with Frequentis in bringing the remote virtual tower technology to the U.S. Raytheon, a major contractor of the FAA’s NextGen Modernization program, has implemented its STARS (Standard Terminal Automation Replacement System) throughout the U.S. The virtual remote tower technology by Frequentis efficiently allows air traffic controllers to operate with all the functions of a control tower with the aid of real-time video and high-definition cameras from anywhere across the globe.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/remote-towers-market-102523


Adoption of Advanced Technology by Major Companies to Stoke Demand


Emergence of technology such as artificial intelligence (AI) and machine learning is proving to be beneficial in enhancing the security and operational activities at the airports. Owing to this, several major manufacturers are focusing on product innovation and development that will drive the growth of the global market in the forthcoming years. The development of advanced sensors that are equipped with enhanced object detection capabilities by the major OEMs is anticipated to propel the market growth during the forecast period.


Collaboration Strategies by Thales Group & Frequentis to Stimulate Growth


The market comprises of several companies that are striving to gain a major chunk of the global remote tower market share during the forecast period. Among all companies, Thales Group and Frequentis are considered to be actively trying to consolidate their position by adopting strategies such as collaboration, merger and acquisition, and partnership, among others. In addition to this, adoption of modern technology by these companies is anticipated to propel the overall sales of the product and boost the market demand between 2020 and 2027.


List of the Companies Operating in the Market:



  • Frequentis Group

  • Saab Group

  • Searidge Technologies

  • Indra Systems

  • Avinor

  • Thales Group

  • Harris Corporation

  • Indra Navia AS

  • Leonard Martin Corporation

  • Raytheon Corporation


Further Report Findings:



  • The market in Europe is anticipated to witness considerable growth and hold the highest global remote towers market share during the forecast period. This is attributable to presence of major manufacturers such as Thales Group and Saab that are focusing on development of the product.

  • In 2019, North America procured USD 16.7 million in terms of revenue. The region is expected to witness growth backed by presence of major companies focusing on development and innovation of the product by adopting advanced technologies.

  • The segment module based on by system type is expected to witness significant growth owing to increasing demand for virtual remote tower system and remote towers to regulate global air traffic.

  • The segment flight data handling based on by application type will witness rapid growth in the forthcoming years. This is ascribable to growing demand for real-time tracking system for safe and secure operations at the airports.


Market Segmentation:














































SEGMENTATION



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



By Operation Type




  • Single

  • Multiple

  • Contingency



By System Type




  • Airport Equipment

  • Remote Tower Module

  • Network Solution



By Application




  • Communication

  • Information & Control

  • Flight Data Handling

  • Surveillance

  • Visualization



By Region




  • North America (the U.S. and Canada)

  • Europe (the U.K., Germany, France, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Singapore, and Rest of Asia Pacific)

  • Middle East (Saudi Arabia, UAE, Qatar, and Rest of the Middle East)

  • Rest of the World (Latin America and Africa)


Global Remote Tower Market
  • PDF
  • 2019
  • 2016-2018
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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