Airport Runway FOD Detection Systems Market to Grow at 6.5% CAGR to Hit USD 169.03 Million by 2027 - Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

According to our latest market study on "Airport Runway FOD Detection Systems Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Components (Hardware and Services) and End Use (Military Airport and Civil Airport)," the market was valued at US$ 103.33 million in 2019 and is projected to reach US$ 169.03 million by 2027; it is expected to grow at a CAGR of 6.5% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

The foreign object debris (FOD) such as 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 systems are developed to prevent any accident and damage to airlines and its passengers. Companies such as Navtech provides radar's high performance FOD150 sensor to detect debris automatically by lowering burden on personnel.

The report aims to provide an overview of global Airport Runway FOD Detection Systems Market with detailed market segmentation by product/application and geography. The global Airport Runway FOD Detection Systems Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the Airport Runway FOD Detection Systems players and offers key trends and opportunities in the market.

Get PDF Sample Copy of this Report @ https://bit.ly/362HROb

Top Dominating Key Players:

1. ArgosAI Teknoloji A.
2. Navtech Radar
3. Pavemetrics
4. Plextek Services Limited
5. Rheinmetall AG
6. QinetiQ Group plc
7. Thales Group
8. XSight Systems Ltd
9. Trex Aviation Systems
10. Varec, Inc

Key Benefits:

To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Airport Runway FOD Detection Systems Market.

To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the 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 according to different segments. The report also predicts the influence of different industry aspects on the Airport Runway FOD Detection Systems Market segments and regions.

Speak to Analyst for more details : https://bit.ly/3KK3660

Strict government regulations and standards are established pertaining to enhance aircraft and airport safety, increase in spending limit by Defense to procure advanced technologies in their operations, and construction/expansion of airports/runways are a few of the factors that are boosting the penetration of FOD detection systems at runways; and thereby influencing the market growth. In addition, the emergence of AI-based FOD detection systems to improvise real-time detection of FOD is another factor that would help in contributing to the market growth during the forecast period. Also, the deployment of FOD detection systems among commercial airports-such as Hamad International Airport, Beijing Daxing International Airport, and Beijing Capital International Airport-is making significant contribution in boosting the installation of FOD detection systems, which is driving the growth of the market.

The COVID-19 outbreak is causing a massive financial loss in APAC. The governments in Asia Pacific countries are taking several crucial steps to contain the spread of the novel coronavirus by imposing lockdown, which is disrupting the manufacturing sector. China is one of the leading aerospace manufacturing countries in the region. Owing to the COVID-19 outbreak, the manufacturing facilities are witnessing severe challenges in generating revenues from different markets. India, Japan, and several other South East Asian countries are still combating the virus, which is restraining the growth of airport runway FOD detection systems market.

The FOD detection system manufacturers are observing noteworthy downfall in respective businesses, which is directly attributed to the lesser demand for the same from various end users-such as commercial airports and military airports. The outbreak is substantially disrupting the FOD detection systems supply chain in the region, which is hindering the market. The recovery period is expected to be faster than other regions, as several countries are anticipated to gain new airports in the coming years.

The global airport runway FOD detection systems market has been segmented as follows:

Airport Runway FOD Detection Systems Market- by Components

Hardware
Services

Airport Runway FOD Detection Systems Market- by End Use

Military Airport
Civil Airport

Request for Buy Report @ https://bit.ly/3w7JkNO

Reasons to Buy the Report:

Learn about the driving factors, affecting the market growth.
Imbibe the advancements and progress in the market during the forecast period.
Understand where the market opportunities lies.
Compare and evaluate various options affecting the market.
Pick up on the leading market players within the market.
Envision the restrictions and restrains that are likely to hamper the market.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.