Airport Runway Foreign Object Debris (FOD) Detection Systems Market to Reap Excessive Revenues by 20
This report provides prognosis and analysis of the Airport Runway Foreign Object Debris (FOD) Detection Systems Market. It offers historical data along with forecast data for 2028.
[USPRwire, Mon Apr 15 2019] FactMR has actively published a new research study titled “Airport Runway Foreign Object Debris (FOD) Detection Systems Market to Reap Excessive Revenues by 2018 to 2028 | Key Players are Xsight Systems Ltd., Moog Inc., Trex aviation systems, etc.” to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the Airport Runway Foreign Object Debris (FOD) Detection Systems Market during 2018-2028. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global Airport Runway Foreign Object Debris (FOD) Detection Systems Market is expected to showcase impressive growth at 4% CAGR during the period until 2028.
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The global airport runway FOD detection systems market remains consolidated with a limited number of players. Four companies accounted for nearly two-thirds revenue share of the market in 2017. These top 4 market leaders include The Stratech Group, Moog Inc., Xsight Systems Ltd., and Trex Aviation Systems Inc. The tier 1 companies in the airport runway FOD detection systems market are investing in extensive research and development for encouraging product innovations in line with the latest specifications and standards. Moreover, these players are capitalizing on budding opportunities across emerging nations, which can enable them to tap into new end-user segments. The companies in the airport runway FOD detection systems market are also focusing on offer competitive pricing in a bid to win maximum number of government contracts – a key growth influencer in the market.
Manufacturers Focusing on High Precision-Control, Real-Time Monitoring
Efficient FOD management has always been one of the paramount factors fueling seamless operation of aircrafts. The emphasis on high-precision FOD management devices for real-time monitoring has catalyzed the incorporation of new technologies into the existing framework and encouraged initiatives by key manufacturers to launch new products in the airport runway FOD detection systems market. For instance, Argosai, a leading player in the airport runway FOD detection systems market, launched A-FOD to capture high-resolution images by using artificial intelligence techniques. With such initiatives mainstreaming in the airport runway FOD detection systems market, it is highly likely that established manufacturers and new entrants might diversify their product lines with technologically-advanced products.
Identification and mitigation of risks has led to multiple initiatives for upgrading the infrastructure across airports worldwide. Aviation authorities across the globe are focusing on adoption of airport runway FOD detection systems to ensure safety of aircrafts. For instance, the Airport Authority of Trinidad and Tobago includes ‘FOD Management Programme’ in its safety initiatives, wherein a proactive approach to deal with FODs has been reinforced.
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The Airports Council International (ACI), in its latest set of policies, has incorporated section titled ‘Control of Foreign Object Debris (FOD)’ that emphasizes on measures to prevent occurrence of FODs. As a part of the Airport Improvement Program (AIP), the U.S. Department of Transportation announces grants for revamp of airport infrastructure, which also emphasizes minimizing foreign object debris on the airport runways. Surge in similar kind of investments in airport infrastructure is foreseen to boost future developments and demand for airport runway FOD detection systems.
As per an insight provided by the International Air Transport Association (IATA), more than half of the global population will choose air travel by 2036. This has persuaded both authorities and service providers in the aviation industry to focus on operational efficiency as well as safety. Sensing the adverse impacts of FODs on the efficiency of aircrafts, the aviation framework is placing high demand for high-precision airport runway FOD detection systems. This surge in demand for airport runway FOD detection systems is to quickly detect FODs during the pre-takeoff and post-landing surveillances, which helps in mitigation of flight delays.
The report on airport runway FOD detection systems market features the key players operating in the market. The leading market players of the global airport runway FOD detection systems market include are Xsight Systems Ltd., Moog, Inc., Trex aviation systems, The Stratech Group Limited, Argosai technology, Pavemetrics Systems Inc., Hitachi Kokusai Electric Inc., and Rheinmetall Italia S.p.A. Leading market players in the airport runway FOD detection systems market are vying to strengthen their foothold by adopting effective strategies for geographical expansions and product diversifications.
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