Factors Fueling the Exponential Growth of the Global Remote Tower Market in the Forecast Period

According to MarkNtel Advisors’ research report, "Global Remote Tower Market Analysis, 2021," the market is likely to grow at a CAGR of 31% in the forecast period of 2021-26. The prominent factors supporting the rise of the market include the rapid growth of domestic & international airports and the focus on the rising efficiency & safety of air traffic management. Besides, the limited network infrastructure and cybersecurity concerns in air traffic management are also creating lucrative opportunities to install remote towers, propelling their demand exponentially across the globe. Furthermore, the constant digitalization & modernization of the existing air traffic management infrastructure is another critical aspect likely to boost the Global Remote Tower Market growth in the forecast period.

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Key Questions Answered in the Study
1. What are the current and future trends in the Global Remote Tower Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Remote Tower Market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Remote Tower Market service providers across various regions?

Covid-19 Severely Impacted the Global Remote Tower Market

The outbreak of the Covid-19 Pandemic severely impacted numerous industries across the world where the Global Remote Tower Market faced the maximum hit. The global crisis compelled the governments across regions to impose strict movement restrictions, leading to a massive loss in the aviation industry. Currently, the aviation sector is observing a substantial downfall and a drop in air traffic, thereby impacting the global economy. Besides, the imposition of the long-term travel restrictions has brought a hold on the industry to combat the spread of the Covid-19 through air travel, resulting in the industry to generate losses of several billion in the coming years. Therefore, the slowdown in the aviation market is directly impacting the Global Remote Tower Market. 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.

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"Global Remote Tower Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Remote Tower providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

Remote Tower Modules to Attain the Fastest Growth in Global Remote Tower Market

Based on the System, the Global Remote Tower Market segments into Airport Equipment, Remote Tower Modules, and Network Solutions. Of them all, Remote Tower Modules dominated the market with the largest share in recent years and are likely to continue their dominance in the forecast years, too. It owes majorly to the increasing demand for remote control towers & virtual tower systems to control the air traffic across different countries. The most significant operations in the module include waiting time, route assistance, permission access, navigation, and emergency handling, all in surveillance systems, sophisticated communication devices, flight data handling, and control system. All these critical functions are propelling the demand to establish remote towers and fueling the segment growth exponentially. Furthermore, the rising air passenger traffic in various tourist spots shall also boost more advanced air traffic control systems & services globally, reveals MarkNtel Advisors in their research report, “Global Remote Tower Market Analysis, 2021.”

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According to MarkNtel Advisors, the leading players in the Global Remote Tower Market are Frequentis Group, Searidge Technologies, Saab Group, Indra Systems, Thales Group, Avinor, Harris Corporation, Leonard Martin Corporation, Indra Navia AS, Raytheon Corporation.

Market Segmentation:
1. By Operation (Single, Multiple, Contingency)
2. By System (Airport Equipment, Remote Tower Modules, Network Solutions)
3. By Application (Communication, Information & Control, Surveillance, Visualization)
4. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
5. By Countries (US, Canada, Mexico, Brazil, Chile, Argentina, Germany, France, UK, Russia & CIS South Africa, Nigeria, UAE, Saudi Arabia, Kuwait, Qatar, China, India, Southeast Asia, Japan, Others)
6. By Competitors (Frequentis Group, Searidge Technologies, Saab Group, Indra Systems, Thales Group, Avinor, Harris Corporation, Leonard Martin Corporation, Indra Navia AS, Raytheon Corporation)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.