Europe Airport Runway FOD Detection Systems Market to Grow at a CAGR of 6.9% to reach US$ 52.75 million from 2020 to 2027

The Europe airport runway FOD detection systems market is expected to grow from US$ 31.48 million in 2019 to US$ 52.75 million by 2027; it is estimated to grow at a CAGR of 6.9 % from 2020 to 2027.

The Germany, France, Italy, UK, and Russia are major economies in Europe. Mounting popularity of smart airports and airport development & expansion activities is expected to escalate the Europe airport runway FOD detection systems market. The exponential growth of the aviation industry over the years has complemented developments in several associated technologies. Internet connectivity plays a critical role in the advancement of the aviation industry. The increasing inclination of government authorities toward smart airports triggers the demand for the integration of smart systems on airports. Governments of developed countries across Europe are investing in smart airport technologies such as smart sensors, communication and network systems, cameras, RFID tags, and wearables owing to rising preference for real-time information and growing demand for advanced connectivity technologies in airport operations. Furthermore, the increasing development of new airports and expansion of existing airports in European countries such as the UK is also expected to drive the growth of the Europe airport runway FOD detection systems market. Such expansion activities are further likely to boost the demand for airport runways FOD detection systems during the forecast period for Europe region.

Further, in case of COVID-19, Russia is the hardest-hit country in Europe, followed by the UK. The two countries are expected to suffer an economic hit due to a lack of revenue from various industries, as the two countries record the highest number of coronavirus cases. Both the countries have substantial number of airports across respective territories. Pertaining to the severity of the situation, the FOD detection system manufacturers operating in the countries are experiencing substantially lesser orders, which is hampering the FOD detection system manufacturer’s business, which is ultimately negatively affecting the airport runway FOD detection systems market. European countries have a high concentration of aerospace contractors. Pertaining to the fact that the majority of the countries have been experiencing a continuous rise in infected patients, the manufacturing facilities are encountering workforce scarcity. This is leading to lesser production, which is hindering the businesses of manufacturing. Since the production volume of various aerospace components is restricted, the demand for advanced technologies and components is also limited, which adversely impact on airport runway FOD detection systems market players’ businesses.                       

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe airport runway FOD detection systems market. The Europe airport runway FOD detection systems market is expected to grow at a good CAGR during the forecast period.

 

Europe Airport Runway FOD Detection Systems Market Segmentation

Europe Airport Runway FOD Detection Systems Market – By Components

• Hardware                  
• Services

Europe Airport Runway FOD Detection Systems Market – By End Use

• Military Airport
• Civil Airport

Europe Airport Runway FOD Detection Systems Market, by Country

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe            

Europe Airport Runway FOD Detection Systems Market-Companies Mentioned

• Navtech Radar
• Plextek Services Limited
• QinetiQ Group plc
• Rheinmetall AG               
• Thales Group
• Varec, Inc.                
• XSight Systems Ltd.

Europe Airport Runway FOD Detection Systems Report Scope