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Mobile Wallet Market by Type (Proximity and Remote), Technology (Near Field Communication, QR Code, Text based/ Short message service, and Digital Only), End User (Personal and Business), and Industry Vertical (Hospitality & Transportation, Media & Entertainment, Retail, Healthcare, Energy & utilities, Telecommunication and Others): Global Opportunity Analysis and Industry Forecast, 2023-2031

Mobile Wallet Market by Type (Proximity and Remote), Technology (Near...

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Mobile Wallet Market by Type (Proximity and Remote), Technology (Near Field Communication, QR Code, Text based/ Short message service, and Digital Only), End User (Personal and Business), and Industry Vertical (Hospitality & Transportation, Media & Entertainment, Retail, Healthcare, Energy & utilities, Telecommunication and Others): Global Opportunity Analysis and Industry Forecast, 2023-2031
Mobile Wallet Market by Type...
Report Code
RO13/128/1016

Publish Date
19/May/2023

Pages
200
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The global remote tower market revenue was valued at US$ 318.7 million in 2021 and is expected to reach US$ 1,033.3 million by 2031. The market will register a CAGR (Compound Annual Growth Rate) of 11.7% during the forecast period from 2022 to 2031.
Remote Tower Systems are a proposed Air Traffic Control Tower (ATCT) solution for the National Airspace System (NAS). An RTS may consist of one or more types of optical sensors and displays. RTS provides Air Traffic Control Specialists (ATCS) with the visual information they need to supply ATCT services. The optical sensors can include, but are not limited, to optical day/night cameras or infrared/thermal cameras. These sensors will be used to replace the information that controllers presently gather by looking out the windows of traditional ATCTs.
Factors Affecting Market Growth
The remote towers will handle the increased passenger traffic at a much lower cost than upgrading and developing traditional air traffic control towers. The need to reduce the costs of air traffic management will drive the demand for remote towers.
Digitalization in air traffic management and a rise in air traffic are expected to create an opportunity for the market in the near future.
Threats of cybersecurity and data breach and lack of standardization are expected to hinder the growth of the global market.
COVID-19 Pandemic Effect on Market Growth
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 lockdowns. As a result of interrupted supply chains and production schedules caused by the COVID-19 pandemic, aviation production and sales suffered severely which negatively impacted the market for remote tower market in 2020.
Governments across the globe implemented strict lockdowns and made social distancing mandatory. However, the vaccination drive enabled the lowering of barriers to economic activity, as well as domestic and international travel. As the restrictions were lifted, travel recovered quickly leading to an increase in air traffic which was expected to boost the market.
Regional Analysis
Europe led the remote tower market in 2022, with the U.K. and Sweden accounting for a significant share of the regional market. The growing demand for remote towers in the European region with the development of new and technologically advanced remote tower components such as high-resolution cameras, panoramic displays, and communication systems are the key factors driving the market in Europe.
Leading Competitors
The major leading competitors in the global remote tower market are:
Leonardo S.P.A
Kongsberg Gruppen
Leidos
Retia A.S
Rohde & schwarz GMBH & co.
DFS deutsche Flugsicherung GMBH
Black box
Becker Avionics GMBH
Adacel
Saab ab
Frequentis group
Thales group
Indra Sistemas
Raytheon Technologies corporation
L3harris technologies
Northrop Grumman corporation
Searidge technologies
Others
Segmentation Analysis
The global remote tower market segmentation focuses on Offering, Application, End-User, Operation Type, and Region.
Segmentation Based on Offering
Software and solutions
Hardware
Services
Segmentation Based on Application
Flight Data Handling
Surveillance
Visualization
Communication
Information and Control
Segmentation Based on End User
Commercial Airport
Military Airport
Segmentation Based on Operation Type
Contingency
Single
Multiple
Segmentation Based on Region
North America
U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe

Asia-Pacific
China
India
Japan, South Korea
ASEAN
Rest of Asia-Pacific

Middle East & Africa (MEA)
Brazil
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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