Airport Runway FOD Detection Systems 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 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.
Get Sample PDF Copy at https://www.theinsightpartners.com/sample/TIPRE00016954
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. The recovery period is expected to be faster than other regions, as several countries are anticipated to gain new airports in the coming years.
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 players operating in the airport runway FOD detection systems market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00016954