DUBLIN, October 19, 2021--(BUSINESS WIRE)--The "Global Remote Tower Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
"Global Remote Tower Market'' is likely to grow at a CAGR of around 31% during the forecast period, 2021-2026.
The prime factors backing the substantial growth of the Global Remote Tower Market include the rapidly growing international & domestic airports across various developed and developing countries.
Since these Remote towers are prominent for controlling ground-based and airborne functions, the governments are investing massively in the market to gain better infrastructure in the region. Furthermore, the benefits of efficient airspace management and safe air traffic management are another factor likely to surge the market growth in the forecast period.
Covid-19 Severely Impacted the Global Remote Tower Market
The outbreak of the Covid19 pandemic severely impacted the Global Remote Tower Market. To combat the spread of the virus, governments across regions imposed lockdown and strict restrictions on movements, which brought a temporary halt to the aviation industry and massive financial loss.
Therefore, the slowdown in the aviation market shall directly impact the Global Remote Tower Market in the coming years. However, the gradual upliftment of restrictions and regulations to adjust in the new normal shall enable the market to regain its pace in the forecast years. Furthermore, initiatives by the government and market players shall also help the Global remote Tower Market to recover from the loss and generate remunerative opportunities in the coming years.
Communication to Attain the Largest Share of the Global Remote Tower Market
Based on Application, Global Remote Tower Market bifurcates into Communication, Information & Control, Surveillance, and Visualization. Of all, the Communication segment is likely to attain the largest market share in the forecast period.
With the efficient source of communication through Remote Towers, the functioning of the aircraft and airports are much more convenient, thereby burgeoning the demand to install remote towers across regions. Hence, the segment shall attain the largest share of the Global Remote Tower Market in the forecast period.
Information & Control to Witness the Fastest Growth in the Global Remote Tower Market
The Global Remote Tower Market comprises several applications, viz. Communication, Information & Control, Surveillance, and Visualization. Of them all, the Information & Control segment is more likely to display the fastest market growth during the forecast period.
The prime factor supporting the astronomical pace includes the rapidly growing demand for real-time tracking systems to ensure and conduct a safe operation at airports. Besides, the accuracy and reliability of the remote towers to provide real-time aircraft position tracking systems with the exact place for safe landing & take-off operations in several airports is further surging the demand for Remote Towers for the Information & Control application.
Furthermore, the segment is likely to surge the Remote Tower demand across various developing countries with limited resources to attain cost-saving benefits for the long term, thereby fueling the growth in the coming years.
The prime factor likely to back up the substantial market growth includes the rapid rise in airport construction and growing air transit demand, progressing the need for efficiency & safety in air traffic control, thereby booming the Remote Tower requirement. Besides, these towers are an effective alternative to save cost, along with modernizing and digitalizing the overall Air Traffic Management Market making it to drive substantially through the forecast period.
The factors restraining the market growth include the limited network infrastructure with a greater chance for technical failure. Besides, the massive airport capacity is another factor with a potential of technical failure or security issues.
Europe to Attain the Largest Share of the Global Remote Tower Market in the Forecast Period
The Global Remote Tower Market is expanding substantially across regions, where Europe is likely to dominate the market with the largest share in the years to come. The prime factor supporting the massive revenue generation includes the abundant availability of remote tower manufacturers operating in the region.
Besides, increasing focus on managing and advancing air traffic to reduce the cost & carbon impression is further propelling Europe to attain the largest share of the Global remote Tower market. Furthermore, new projects for these towers across countries like Germany, UK, Sweden, and Norway are also likely to generate massive revenue across Europe in the forecast period.
The leading players in the Global Remote Tower Market are
Leonard Martin Corporation
Indra Navia AS
For more information about this report visit https://www.researchandmarkets.com/r/2efeho
View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005932/en/
Laura Wood, Senior Press Manager
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