CHICAGO, May 10, 2019 /PRNewswire/ -- According to the new market research report "Remote Towers Market by Operation Type (Single, Multiple, Contingency), System Type (Airport Equipment, Remote Tower Modules, Network Solutions), Application (Communication, Information & Control, Surveillance), and Region – Global Forecast to 2025", published by MarketsandMarkets™, 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. Increasing cost savings, efficiency, and safety, as well as the increasing number of airports, are expected to drive the growth of the market.
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Based on operation type, the contingency segment is projected to grow at the highest CAGR from 2019 to 2025.
The growth of this segment can be attributed to the high demand for remote towers due to increasing air traffic at tier 1 airports. London's Heathrow Airport has a contingency remote tower which can control 70% of air traffic in case of emergency or very heavy traffic flow.
Based on system type, the airport equipment segment is projected to grow at the highest CAGR from 2019 to 2025.
The growth of this segment can be attributed to the increased need for sophisticated airport equipment for high quality input data transfer to remote towers, as the transfer of error-free data and voice communication to a remote tower is crucial for the functioning of remote virtual towers.
APAC is expected to be the fastest-growing remote towers market during the forecast period.
APAC is expected to be the fastest-growing market during the forecast period. This growth is attributed to the upcoming new regional airports in countries such as China and India. Increasing air traffic is also expected to drive the growth of the remote towers for contingency operations in the region. Saab and the Airports Authority of India (AAI) signed a Memorandum of Understanding (MoU) in January 2019 to conduct research on air traffic management automation systems for airports under the UDAN Regional Connectivity Scheme for India. Additionally, India plans to review for 50 new regional airports in the next two years. Similarly, China's LES Information Technology is developing a remote tower technology. The country has planned for 200+ new airports by 2035.
Browse in-depth TOC on "Remote Towers Market"
65 – Tables
34 – Figures
132 – Pages
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Major players operating in the remote towers market include Frequentis (Austria), Saab AB (Sweden), Searidge Technologies (Canada), Indra Sistemas (Spain), Avinor (Norway), and Thales Group (France), among others. These players offer various remote tower solutions covering both, hardware components as well as software services, as well as the integrators of these solutions. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia Pacific.
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