Increased cost saving is one of the significant factors driving the remote towers market.
The remote towers market is projected to grow from an estimated USD 63 million in 2019 to 392 million by 2025, at a CAGR of 35.53% during the forecast period. This growth can be attributed to increased cost savings, safety, and efficiency achieved using remote towers. Limited network infrastructure and capacity issues of big airports are the major restraints for the market.
Based on operation type, the contingency segment is projected to lead the remote towers market during the forecast period.
Based on operation type, the single segment is estimated to account for the largest share of the remote towers market in 2019. This can be attributed to the market being in the initial phase of commercialization. Depending on successful testing and operations of single remote tower operations, the industry is expected to add contingency remote tower operations for tier 1 airports.
Based on application, the information & control segment is projected to grow at the highest CAGR during the forecast period.
The growth of this segment can be attributed to the growing trend of digitization and artificial intelligence. Due to heavy air traffic, controllers are facing high pressure in terms of managing and planning, which is also resulting in delays and increasing costs. Air traffic is estimated to grow further, and the industry is moving toward technological advancements to avoid delays and manage costs. Digitizing the current systems enables upgradation to artificially intelligent systems, resulting in reduced load on the workforce.
Europe is estimated to account for the largest share of the remote towers market in 2019; the APAC market is projected to grow at the highest CAGR during the forecast period.
Europe is estimated to account for the largest share of the remote towers market in 2019. This can be attributed to the SESAR initiative, which focuses on optimizing air traffic management to reduce cost and carbon footprints. Additionally, upcoming remote towers in countries such as Sweden, the UK, Germany, and Norway have led to the large share of the European Market.
The break-up of profiles of primary participants in the remote towers market:
- By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
- By Designation: Others – 25%, C Level – 35%, and Director Level – 40%
- By Region: North America – 25%, Europe – 45%, Asia Pacific – 15%, and Rest of the World – 15%
Major companies profiled in the report include Frequentis (Austria), Saab AB (Sweden), Searidge Technologies (Canada), Indra Sistemas (Spain), Avinor (Norway), and Thales Group (France), among others.
This research report categorizes the remote towers market based on operation type (single, multiple, contingency), system type (airport equipment, remote tower modules, network solutions), and application (communication, information & control, flight data handling, surveillance, visualization). These segments and subsegments have been mapped across major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (Latin America, Middle East, and Africa).
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analyses ?industry analysis (industry trends), market share analysis of top players, competitive leadership mapping matrix, and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments in the remote towers market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on remote towers offered by top market players
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the remote towers market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the remote towers market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the remote towers market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the remote towers market