Airport Runway FOD Detection Systems Market: Drop in Air Traffic During Coronavirus Pandemic to Hurt Prospects
Airport runway FOD detection systems manufacturers continue to push for product improvements with advancements in mechanisms for superior efficacy in functionality.
ROCKVILLE, MD / ACCESSWIRE / July 22, 2020 / The global airport runway FOD detection systems market is expected to grow with a moderate 4% CAGR between 2020 and 2030. According to the Fact.MR report, the coronavirus outbreak has adversely impacted the global aviation industry, with air passenger footfall dropping drastically over fears of the contagion. Consequently, the demand for new installations in runway FOD detection systems are witnessing a downturn in the short-term hurting market prospects.
“The airport runway FOD systems market largely gaining ground owing to major advances in terms of radar systems. In addition, agencies regulating the aviation sector in multiple nations are pushing for improvements to performance standards in critical airport facilities, which will benefit the runway FOD detection systems market for the foreseeable future,” says the FACT.MR study.
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Airport Runway FOD Detection Systems Market- Key Takeaways
- Airport runway FOD detection systems hardware components are key to revenue streams owing to extensive investments airport refurbishment and modernization projects.
- Rapid rise in investments for defense infrastructure is giving impetus to applications in military airports.
- Europe and North America are the leading consumers for airport runway FOD detection systems
Airport Runway FOD Detection Systems Market- Driving Factors
- The critical nature of detecting foreign object debris, before and after landings and takeoffs in terms of safety standards is a key growth factor.
- Uptick in military aviation activities in recent years is generating key growth opportunities.
- High investments by government bodies towards air travel safety infrastructure will bolster market growth.
Airport Runway FOD Detection Systems Market- Key Restraints
- High costs of airport runway FOD detection systems are a key factor hindering adoption rates.
- Regular maintenance requirements remain a key challenge for market players.
COVID-19 Impact on Airport Runway FOD Detection Systems Market
With the ongoing covid-19 crisis, the installation and maintenance activities of airport runway FOD detection systems have taken a downturn. Social distancing trends have negatively affected air travel. Restrictions on trade are also impacting market developments. On the other hand, government financial stimulus will help recovery of the industry in the years ahead.
Explore the global Airport Runway FOD Detection Systems market with 152 figures, 57 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/1897/airport-runway-foreign-object-debris-detection-systems-market
Competitive Landscape
Market participants in the airport runway FOD detection systems market are pushing for product innovations to build on performance standards. For example, Israel based Xsight is pushing for the deployment of an intelligent runway debris monitoring system in Qatar, for automated, real-time functions. Moog Inc., The Stratech Group Ltd., and Xsight Systems Inc. are some of the major airport runway FOD detection systems market players.
About the Report
This study offers readers a comprehensive market forecast of the airport runway FOD detection systems market. Global, regional and country-level analysis of the latest industry trends impacting the airport runway FOD detection systems market is covered in this FACT.MR study. The report offers insights on the airport runway FOD detection systems market on the basis of component (hardware and services), and end use (civil airport and military airport), across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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SOURCE: Fact.MR
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