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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.
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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:
Further Report Findings:
Value (USD Million)
By Operation Type
By System Type