Market Research Report
North America Airport Runway FOD Detection Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Components (Hardware and Services) and End Use (Military Airport and Civil Airport)
|Published by||The Insight Partners||Product code||990871|
|Published||Content info||90 Pages
Delivery time: 1-2 business days
|North America Airport Runway FOD Detection Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Components (Hardware and Services) and End Use (Military Airport and Civil Airport)|
|Published: February 9, 2021||Content info: 90 Pages||
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.
Growth in defense expenditure across North American countries is driving the growth of the North America airport runway FOD detection systems market. Airport runway FOD detection systems facilitate automated scanning of airport surfaces and runways, confer high detection and resolution capability, and provide enhanced situational awareness, thereby ensuring enhanced safety to users. The rising defense expenditure in developed countries across North America has led to increase in the adoption of FOD detection systems in the military sector. Countries with high GDP-such as the US and Canada-are vigorously carrying out large-scale industrialization and infrastructure developments. According to Stockholm International Peace Research Institute (SIPRI), the US defense expenditure increased by 5.3% in 2019 to reach US$ 732 billion. Thus, the increasing defense expenditure propels the growth of the North America airport runway FOD detection systems market
The US is the worst-hit country in North America due to the COVID-19 outbreak, as thousands of infected individuals are facing severe health conditions across the country. The continuous growth of in the number of COVID-19 positive cases has led the government to impose lockdown across the nation's borders during Q2. The majority of the manufacturing plants are either temporarily shut or are operating with minimum staff. The supply chain of components and parts is disrupted. Since the US has a larger density of aircraft manufacturers, component manufacturers, and airports, the outbreak is hindering the production and revenue generation of each. The lower number of manufacturing staff has resulted in lesser production quantity. On the other hand, the suspension of air travel resulted in loss for the airports, which restricted the demand for airport associated technologies. This factor is restraining the revenue generation stream of the North America airport runway FOD detection systems market. Similarly, the military forces have refrained from procuring the usual quantity of the FOD detection systems for maintenance of airport runways that has also hindered the North America airport runway FOD detection systems market.
Based on components, the hardware segment led the North America airport runway FOD detection systems market in 2019. Radar based systems, electro-optical systems, RFID based systems, and FOD sweepers are consist under the hardware segment of airport runway FOD detection systems. Where loose objects, small debris, wildlife and stray humans can cause accident, the mentioned systems are used. The International Civil Aviation Organization (ICAO) and the US Federal Aviation Administration (FAA) need daily inspection of airplane maneuvering areas and elimination of FOD. Also, AS9146 is other standard established by Americas Aerospace Quality Standards Committee (AAQSC) that signifies FOD Prevention Program needs for organizations that are manufacturing and providing space, aviation, and defense products and services; and also giving post-delivery support. The airports are procuring FOD systems to ensure safety at runway. Industry standards and initiatives by airport authorities to integrate advanced FOD detection system would bolster the North America market growth in coming years. Significance of hardware component in critical situations, where accident can happen, is expected to increase its demand, which would drive the growth of the North America airport runway FOD detection systems market.
The overall North America airport runway FOD detection systems market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the North America airport runway FOD detection systems market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America airport runway FOD detection systems market. Pavemetrics; QinetiQ Group plc; Rheinmetall AG; Thales Group; Trex Aviation Systems; Varec, Inc.; and XSight Systems Ltd. are among the players operating in the market.
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