Smart Airports to Have a Positive Impact on the Growth of the Global Airport Runway Safety System Market: Technavio

Technavio has published a new report on the global airport runway safety system market from 2017-2021. (Photo: Business Wire)

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LONDON--()--The global airport runway safety system market size is projected to grow to USD 634.2 million by 2021, at a CAGR of close to 9%, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global airport runway safety system market for 2017-2021. By type of systems, the global market is divided into radar and landing systems and lighting systems segments.

Airport runway safety systems ensure safe and reliable flight operations from take-off to landing by guiding air traffic control (ATC) and pilots. The emergence of agile and smart airport concepts is changing the way of airport operations and business models. This is leading to increased adoption of airport runway safety systems, thereby driving market growth.

Technavio’s research study segments the global airport runway safety system market into the following regions:

  • Americas
  • EMEA
  • APAC

Americas: largest airport runway safety system market segment

The Americas comprise the largest regional segment of the global airport runway safety system market. Revenue is generated in the market through the expansion of existing airports and addition of new greenfield airports,” says Avimanyu Basu, a lead analyst at Technavio for aerospace research.

The high preference towards air travel witnessed in North America combined with the top-tier tourist attractions in South America results in high runway traffic. The high runway traffic increases the rate of runway incursions, thereby creating a demand for the adoption of runway safety systems.

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EMEA: market segment driven by rising air traffic

Europe has witnessed the addition of new air routes and airfields in the past years. The airway traffic is steadily rising, leading to the development of airport runways installed with highly advanced runway safety systems. The Middle East accounts for the highest air traffic, due to the maximum use of aircraft and increasing aircraft frequencies. With the growing number of aircraft frequencies, the airports are challenged with runway incursions. Airports are adopting or upgrading their runways with safety systems and new surveillance systems to combat the frequency of these incursions.

APAC: fastest-growing airport runway safety system market

APAC is the fastest-growing regional segment, forecast to display a CAGR of over 9% through 2021. The rising demand for air travel has pulled in investments towards the development of runway safety systems in the region,” says Avimanyu.

Developing countries such as India and China are witnessing a massive rise in the number of new airports being constructed. The investments made are utilized towards the development and modernization of technologies and systems at the airports in the region, thereby driving market growth.

The top vendors in the global airport runway safety systems market highlighted in the report are:

  • ADB Airfield Solutions
  • Honeywell International
  • Varec
  • Saab

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global airport runway safety system market size is projected to grow to USD 634.2 million by 2021, at a CAGR of close to 9%, according to Technavio’s latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com