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Wed, May 15, 2019

Report: Remote Towers Market Worth $392 Million By 2025

Growth Forecast At More Than 35 Percent Annually, According To MarketsandMarkets

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 $63 million in 2019 to 392 million by 2025, at a Compound Annual Growth Rate (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.

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.

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 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.

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.

(Source: MarketsandMarkets news release. Image from file)

FMI: www.marketsandmarkets.com

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