ACROFAN

Airport Runway FOD Detection Systems North American Market to 2027 - by Components, End-use and Region - ResearchAndMarkets.com

Published : Wednesday, March 24, 2021, 2:34 am
ACROFAN=Businesswire | webmaster@businesswire.com | SNS

DUBLIN--(BUSINESS WIRE)--The "North America Airport Runway FOD Detection Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Components and End Use" report has been added to ResearchAndMarkets.com's offering.


According to this report the North American airport runway FOD detection systems market is expected to reach US$ 62.05 million by 2027 from US$ 37.51 million in 2019.

The market is estimated to grow at a CAGR of 6.5 % from 2020 to 2027. The report provides trends prevailing in the North America airport runway FOD detection systems market along with the drivers and restraints pertaining to the market growth. Strict government regulations regarding aircraft safety and growth in defense expenditure are the major factor driving the growth of the North America airport runway FOD detection systems market. However, expensive development and maintenance of FOD detection systems hinder the growth of North America airport runway FOD detection systems market.

In case of COVID-19, the US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions across the country. The continuous growth of infected individuals has led the government to impose lockdown across the nation's borders during Q2. The majority of the manufacturing plants were either temporarily shut or are operating with minimum staff; the supply chain of components and parts is disrupted; these are some of the critical issues faced by the North American manufacturers.

Since the US has a larger density of aircraft manufacturers, component manufacturers, and airports, the outbreak has severely affected 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 stalled 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 which has affected the North America airport runway FOD detection systems market badly. Thus, the factors mentioned above have had a negative impact on the North America airport runway FOD detection systems market.

The North America airport runway FOD detection systems market is segmented into components, end use, and country. Based on components, the North America airport runway FOD detection systems market is segmented into hardware and services. The hardware segment dominated the North America airport runway FOD detection systems market in 2019 and services segment is expected to be fastest growing segment Based on end use, the North America airport runway FOD detection systems market is segmented into military airport and civil airport. The civil airport segment dominated the North America airport runway FOD detection systems market in 2019 and is also expected to be fastest growing during forecast period.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East and Africa Broth market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Middle East and Africa Broth market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging market.
  • Scrutinize in-depth Middle East and Africa market trends and outlook coupled with the factors driving the Broth market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Strict Government Regulations Regarding Aircraft Safety
  • Growth in Defense Expenditure

Restraints

  • Expensive Development and Maintenance of FOD Detection Systems

Opportunities

  • Rising Popularity of Smart Airports and Airport Development & Expansion Activities

Future Trends

  • Emergence of AI-based FOD Detection Systems and UAV

Companies Mentioned

  • Pavemetrics
  • QinetiQ Group plc
  • Rheinmetall AG
  • Thales Group
  • Trex Aviation Systems
  • Varec, Inc.
  • XSight Systems Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/qgcxln


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900



Copyright © acrofan/Business Wire All Right Reserved


    Acrofan     |     Contact Us : guide@acrofan.com     |     Contents API : RSS

Copyright © Acrofan All Right Reserved