The North America airport runway FOD detection systems market is expected to grow from US$ 37.51 million in 2019 to US$ 62.05 million by 2027; it is estimated to grow at a CAGR of 6.5 % from 2020 to 2027.
The Business Market Insights provides you regional research analysis on “North America Airport Runway FOD Detection Systems Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the North America Airport Runway FOD Detection Systems market during the forecast period, i.e., 2021–2027.
The Foreign Object Debris (FOD) like human artefacts, technological artefacts, and other objects at the runways can end up into damaging airlines, passengers, and airports and can cost up to millions of losses. Therefore, FOD detection system are developed which prevents any accidents and damage to airlines and its passengers. In the current scenario, the demand for high-precision FOD systems to address real-time monitoring is encouraging FOD detection system manufacturers across North America to introduce new products for airport runway FOD detection systems domain. In North America, the US is witnessing few projects related to airport construction which would help in deploying FOD detection systems. Kansas City, New York JFK, Baltimore-Washington, Dallas Fort Worth are few airports where investment of US$1.4 Bn, US$2.0 Bn, US$1.5 Bn, and US$1.6 Bn respectively has been made to upgrade the airports. Such investment will help in boosting the adoption of FOD detection systems. In addition, the country’s FAA provides information for the procurement of FOD detection equipment which airports can use. Government support in using FOD detection systems at runways coupled with expenditure on airports will in turn promotes the growth of the North America airport runway FOD detection system market. Further, strict government regulations and standards are established pertaining to enhance aircraft and airport safety and increasing spending limit by Defense to procure advanced technologies in their operations are some of the factors that would help in boosting the penetration of FOD detection systems at runways; and thereby influencing the North America market growth.
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Major key players covered in this report:
- QinetiQ Group plc
- Rheinmetall AG
- Thales Group
- Trex Aviation Systems
- Varec, Inc.
- XSight Systems Ltd.
Rising popularity of smart airports and airport development & expansion activities is expected to upsurge the North America airport runway FOD detection systems market. The exponential growth of the aviation industry over the years has complemented developments in several associated technologies. Internet connectivity plays a critical role in the advancement of the aviation industry. The increasing inclination of government authorities toward smart airports triggers the demand for the integration of smart systems on airports. Governments of North American countries such as the US are investing in smart airport technologies such as smart sensors, communication and network systems, cameras, RFID tags, and wearables owing to rising preference for real-time information and growing demand for advanced connectivity technologies in airport operations. Furthermore, the increasing development of new airports and expansion of existing airports in North American countries is also expected to drive the growth of the North America airport runway FOD detection systems market. Such expansion activities are further likely to boost the demand for airport runways FOD detection systems during the forecast period for North America region.
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The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Airport Runway FOD Detection Systems market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the North America Airport Runway FOD Detection Systems market segments and regions.
The research on the North America Airport Runway FOD Detection Systems market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the North America Airport Runway FOD Detection Systems market on the basis of end user, product type, application, and demography for the forecast period 2021–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America Airport Runway FOD Detection Systems market.
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