Remote Towers Market to Generate $1.03 Billion by 2031: Says Allied Market Research
Allied Market Research
Updated 5 min read
Allied Market Research
Growing need for better airspace management systems and increase in demand for cost-effective air traffic control solutions drive the growth of the global remote towers market. Based on application, the communication segment garnered the highest share in 2021. By region, on the other hand, the Asia-Pacific region would cite the fastest CAGR throughout the forecast period.
Portland, OR, Sept. 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global remote towers market was estimated at $318.7 million in 2021 and is expected to hit $1.03 billion by 2031, registering a CAGR of 11.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Offerings, Application, End-User, Operation Type, and Region.
Drivers
Growing need for better airspace management systems
Rise in demand for cost-effective air traffic control solution
Opportunities
Digitalization in air traffic management
Restraints
Threat of cyber security and data breach
Covid-19 Scenario-
The Covid-19 outbreak forced governments across the globe to implement strict lockdown measures and ban on the import–export of raw material items, especially in the initial period. This gave way to sudden decline in the availability of important raw materials.
As a result of interrupted supply chains, aviation production and sales suffered tremendously, which in turn impacted the global remote towers market negatively. However, the market got back on trac soon.
The global remote towers market is analyzed across Offerings, Application, End-User, Operation Type, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on offerings, the hardware segment held nearly half of the total market revenue in 2021, and is expected to dominate by 2031. The services segment, however, would manifest the fastest CAGR of 16.2% throughout the forecast period.
Based on application, the communication segment garnered nearly two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 12.6% throughout the forecast period.
Based on operation type, the contingency segment held more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 12.8% throughout the forecast period.
Based on region, the global remote towers market across Asia-Pacific generated more than one-third of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also manifest the fastest CAGR of 12.4% during the forecast period. The other provinces analyzed through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global remote towers market report include EIZO Corporation, ADACEL, Becker Avionics GmbH, Leidos, Frequentis Group, Indra Sistemas, Kongsberg Gruppen, Leonardo S.P.A, Northrop Grumman Corporation, Raytheon Technologies Corporation, RETIA AS, L3Harris Technologies, ROHDE & SCHWARZ, DFS Deutsche Flugsicherung GmbH,, Thales Group SAAB AB, and Searidge Technologies. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
