DUBLIN--(BUSINESS WIRE)--The "Airport Runway FOD Detection Systems Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Components and End-Use" report has been added to ResearchAndMarkets.com's offering.
According to this report 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.
Partnership initiatives are getting prevail in the market, which are helping in stimulating the market growth. For instance, Plextek partnered with a South Korean partner to create radar solutions that will give a cost-effective and scalable platform for countering FOD threat. Similarly, Stratech Group Limited has declared that their iFerretTM intelligent Airfield/Runway Surveillance and Foreign Object & Debris Detection System is been chosen for performance assessment of cost-effective surveillance system at the Orlando International Airport for a pilot test. The company claimed that this deployment will help in tracking aircraft and ground vehicle movements in apron, taxiway crossings, terminal, and cargo areas along with runways. The project is carried between the University of Illinois Center of Excellence for Airport Technology (CEAT) and the Federal Aviation Administration (FAA) Airport Safety Technology Research and Development Sub-team aiming to enhance airport safety. Therefore, such partnerships help meet safety and surveillance needs of FOD detection systems at runways.
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.
Impact of COVID-19 Pandemic on APAC Airport Runway FOD Detection Systems 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.
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- Stringent Government Regulations Regarding Aircraft Safety
- Increase in Defense Expenditure in Developed Countries
- High Cost of Development and Maintenance of FOD Detection Systems
- Growing Popularity of Smart Airports and Airport Development & Expansion Activities
- AI-Based FOD Detection Systems and UAVs
- ArgosAI Teknoloji A.S
- Navtech Radar
- Plextek Services Limited
- Rheinmetall AG
- QinetiQ Group plc
- Thales Group
- XSight Systems Ltd
- Trex Aviation Systems
- Varec, Inc
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