Remote Towers Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights
RemoteTowers Market will exhibit a CAGR of 31.05% during the forecast period (2020 –2027), andreach USD 584.3 million by 2027, andthe Market value as per 2019 was USD 40 million
FortuneBusiness Insights™ in a new report, titled, “Remote Towers MarketSize, Share and COVID-19 Impact Analysis, By Operation Type (SingleMultiple and Contingency), By System Type (Airport Equipment, Remote TowersModules, 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 toAugment Growth
Theaviation industry witnessed strong growth from the past few years in variousregions. This rapid growth is increasing the number of air passengers owing toaffordable flight rate in various countries by the airline companies. Thegrowing demand for air travel and freight services is projected to increase thedemand for remote towers. According to the report of the International AirTransport Association (IATA), in 2018, global airlines carried more than 4.3billion passengers annually, and it is projected to reach around 7.2 billionpassengers by 2035. Also, around 58 million tonnes of freight were carried ortransported through airlines around the globe. The rising demand for theexpansion and development of airport infrastructure is attracting investmentfrom companies across the globe. According to the International Air TransportAssociation (IATA), the global airport infrastructure investment of around USD1.5 trillion is expected to be spent on construction, modernization, anddevelopment by 2030. These factors are likely to offer several opportunitiesfor market growth during the forecast period.
Increase in Modernization and adoption of the remote and virtualtower to boost industry growth
Technologicaladvancement in the air traffic control (ATC) system is expanding thecapabilities for the aviation industry by exploring new avenues and numerousopportunities for the major players across the globe. In April 2019, FrequentisCompany entered in partnership with the Deutsche Flugsicherung (DFS), aprominent air-navigation service provider in Germany. This collaboration isaimed at developing the first tower at Saarbrucken Airport. This facility is450 Km away at Leipzig for handling air traffic movement watched through a360-degree camera system installed at the airport area. In addition to this,the ongoing development of these towers is under construction in Norway tocontrol around five small airports. The project is expected to complete by theyear 2020 and is aimed to control more than 20 airports in the forthcomingyears. Moreover, Ireland completed a first operational trial for controllingtwo 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 towermarket during the forecast period.
List of Key Players Covered in the Remote Towers Market Report:
- Frequentis Group
- Saab Group
- Searidge Technologies
- Indra Systems
- Avinor
- Thales Group
- Harris Corporation
- Indra Navia AS
- Leonard Martin Corporation
- Raytheon Corporation
To gain more insights into the market with a detailed tableof content and figures, Click Here: https://www.fortunebusinessinsights.com/remote-towers-market-102523
Some of the key industry developments in the RemoteTowers 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.
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