Remote Towers Market Expected to Grow $1,033.3 Million by 2031
The Asia-Pacific region is dominating the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the remote tower market in 2021, whereas India is expected to grow at a significant rate during the forecast period. Significant increases in the civil aviation market due to increase in demand for air travel across the developing Asia-Pacific nations is expected to propel the market during forecast period.
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Aggressive initiatives by federal organizations, such as Federal Aviation Administration (FAA) and EUROCONTROL are coming up with the standardize protocol to support global growth. As of June 2022, FAA 45,000 flights were handled by FAA per day, with 520 airport traffic control towers, 147 terminal radar approach control facilities, and more than 14,000 air traffic controllers. With the growing air traffic control operations, the demand for efficient air traffic management system is increasing, which is anticipated to be achieved by integration of cutting edge technologies, such as remote towers. Several major airports from developed and developing nations such as the U.S., China, Canada, UK, Germany, and India among others have already started investing in these technologies, which is expected fuel the growth of the remote towers market.
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COVID-19 Impact Analysis –
The COVID-19 impact on the remote towers market is unpredictable, and is expected to remain in force for a few years.
The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import–export of essential raw material items for most of 2020, and few months in 2021. This led to sudden decline in availability of important raw materials.
As a result of interrupted supply chains and production schedules caused by the COVID-19 pandemic, aviation production and sales suffered severely, which, in turn, negatively impacted the market for remote tower market in 2020.
To prevent the spread of the COVID-19 virus, governments across the globe implemented strict lockdowns and made social distancing mandatory. Consequently, several organizations began work from home programs as precautionary measure. This led to a sudden decline in global demand for traveling, which has affected the remote tower market
However, vaccination drive enabled lowering of barriers to economic activity, as well as domestic and international travel. As the restrictions lifted, travel recovered quickly leading to increase in air traffic which expected to boost the remote tower market
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KEY FINDINGS OF THE STUDY –
By application, the communication segment is expected to register a significant growth during the forecast period.
By end user, the commercial airport segment is projected to lead the global remote tower market during the forecast period.
By operation type, the contingency segment is projected to lead the global remote tower market during the forecast period.
By offering, the services segment is projected to lead the global remote tower market during the forecast period.
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The key players that operate in this remote towers market are ADACEL, Becker Avionics GmbH, DFS Deutsche Flugsicherung GmbH, EIZO Corporation, Frequentis Group, Indra Sistemas, Kongsberg Gruppen, L3Harris Technologies, Leidos, Leonardo S.P.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, RETIA AS, ROHDE & SCHWARZ, SAAB AB, Searidge Technologies, and Thales Group
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