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Increasing Seaborne Trade Across The Globe To Propel Port Equipment Market

The factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Various countries have been focusing on developing new ports owing to the increase in vessel count and trade volume. According to the International Chamber of Shipping, 90% of the world’s trade is carried out through seaways as they are ideal for heavy and bulk goods, have large carrying capabilities, and offer competitive freight costs. The global port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Based on equipment type, the straddle carriers segment is estimated to lead the port equipm
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Remote Towers Market Is Growing Significantly Due To Digitalization in Air Traffic Management Till 2025

Remote towers are also known as remote virtual towers or digital towers and enable multiple airports to be controlled by a single tower at a remote location. One air traffic controller controlling multiple airports leads to reduced operational costs.

Remote towers refer to air traffic control towers that are remotely located, either near or far from airports. These towers provide Air Traffic Services (ATS) remotely through real-time visual reproduction via high definition cameras. A direct out-of-the-window view of the traditional air traffic control towers is replaced with a live video feed to the air traffic control operator in a remote location. Remote towers consist of operator workstations known as controller working positions (CWPs). Remote towers can control multiple airports controlled simultaneously or on in a sequence as per a pre-determined schedule.

The global remote towers market size is projected to grow from an estimated USD 63 million in 2019 to USD 392 million by 2025, at a CAGR of 35.53% during the forecast period. This growth can be attributed to the increased cost savings enabled by remote towers.

Based on system type, the airport equipment segment is projected to grow at the highest CAGR from 2019 to 2025.

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.

Browse In-depth Insights: https://www.marketsandmarkets.com/ResearchInsight/remote-towers-market.asp

APAC is expected to be the fastest-growing remote towers market during the forecast period.

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.

Avinor (Norway) is a leading service provider and integrator in Norway. Avinor partnered with Indra Sistemas and Kongsberg in August 2015 to provide remote towers across Norway. Work for 15 airports has already begun, and plans are to start by having remote towers for five airports - Røst, Vardø, Hasvik, Berlevåg, and Meham by 2020. Avinor is leading the way for remote towers in Norway.

Saab AB (Sweden) is also one of the leading players in the remote towers market. In 2016, Saab formed a partnership with a Swedish air navigation service provider, LFV, to install the world’s first ever remote tower in Sweden. Saab AB has been a pioneer and a leader in introducing remote tower technology.

Indra Sistemas, S.A. (Spain) is another leading player in the remote towers market. The company is one of the major players in the air traffic management market and has partnered with Avinor to provide remote tower solutions. Their InNOVA Air Traffic Management System, integrated with their remote tower solution, is an efficient offering for this market.

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