Dublin, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The "Airport Runway FOD Detection Systems Market Size and Forecast, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, End Use, and Geography" report has been added to ResearchAndMarkets.com's offering.
According this study, the Airport Runway FOD Detection Systems market was valued at US$ 153.79 million in 2023 and is projected to reach US$ 259.39 million by 2031; it is anticipated to record a CAGR of 6.8% from 2023 to 2031. 
The development of new airports and expansion of existing airports in countries such as the UK, the UAE, India, and Hong Kong is also growing. In August 2020, Gammon Construction Limited, a construction and engineering contractor based in Hong Kong, was awarded a four-year contract amounting to US$ 1.7 billion by the Hong Kong Airport to expand Terminal 2 at Chek Lap Kok Airport.
Similarly, KL International Airport (KLIA) constantly focused on advancing its runway safety with the second phase of the trial for the high-precision Foreign Object Debris Detection System (FODDS) in 2021. The first phase was initiated in 2019 with two towers, followed by the complete installation of the remaining nine towers with the same high-precision radars. The installation of the new system is a multilateral collaboration between Hitachi Kokusai Electric Co., Ltd. (HiKE); Malaysia Airports; and Universiti Teknologi Malaysia (UTM).
Contactless services at smart airports contribute to enhanced passenger experiences. Hamad International Airport launched advanced self-service check-in kiosks and self-service bag drops with biometric technology capabilities in 2018. In addition, autonomous robots have been trialed by British Airways since 2020. For instance, British Airways has been trialing automation for the past few years.
The Singapore Changi Airport has integrated advanced technologies such as data analytics, sensors, and artificial intelligence to improve the customer experience while enhancing operational efficiency. Thus, the growing focus on smart airports is anticipated to create lucrative opportunities for the growth of the airport runway FOD detection systems market during the forecast period.
ArgosAI Teknoloji A.S.; Moog Inc.; Navtech Radar; Pavemetrics; Plextek Services Limited; Rheinmetall AG; QinetiQ Group Plc; Thales SA; Xsight Systems Ltd.; Trex Aviation Systems; Varec, Inc.; Smiths Detection Group Ltd. (Smiths Group plc); Infologic Pte Ltd.; Skylarklabs, Inc.; and Hitachi Ltd are among the key players covered in the airport runway FOD detection systems market report. Companies in the market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.
In addition, Xsight's FODetect system utilizes artificial intelligence, a remote surface detection sensor to recognize debris on paved surfaces such as broken pavement, loose hardware, building supplies, boulders, sand, luggage fragments, catering equipment, and wildlife. Thus, growing technological advancement in the overall process of FOD detection systems is projected to boost the development of the airport runway FOD detection systems market at the global level.
Reasons to buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the airport runway FOD detection systems market.
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- The key findings and recommendations highlight crucial progressive industry trends in the airport runway FOD detection systems 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 markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the 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
Key Attributes
| Report Attribute | Details |
| No. of Pages | 157 |
| Forecast Period | 2023-2031 |
| Estimated Market Value (USD) in 2023 | $153.79 Million |
| Forecasted Market Value (USD) by 2031 | $259.39 Million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation
3.2.2 Macro-economic factor analysis
3.2.3 Developing base number
3.2.4 Data Triangulation
3.2.5 Country level data
4. Airport Runway FOD Detection Systems Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Airport Runway FOD Detection Systems Market - Key Market Dynamics
5.1 Airport Runway FOD Detection Systems Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Surge in Construction of New Airport Terminals, Runways, Taxiways, and Hangars
5.2.2 Rigorous Government Regulations Regarding Aircraft Safety
5.2.3 Rise in Investments in New Military Airport Development
5.3 Market Restraints
5.3.1 High Cost of Development and Maintenance of FOD Detection Systems
5.4 Market Opportunities
5.4.1 Rising Popularity of Smart Airports
5.5 Future Trends
5.5.1 Artificial Intelligence-Driven FOD Detection Systems
5.5.2 UAVs with FOD Detection Systems for Defense Sector
5.6 Impact of Drivers and Restraints
6. Airport Runway FOD Detection Systems Market - Global Market Analysis
6.1 Overview
6.2 Airport Runway FOD Detection Systems Market Revenue (US$ Million), 2021-2031
6.3 Airport Runway FOD Detection Systems Market Forecast Analysis
7. Airport Runway FOD Detection Systems Market Analysis - by Component
7.1 Hardware
7.2 Services
8. Airport Runway FOD Detection Systems Market Analysis - by End Use
8.1 Military Airport
8.1.1 Overview
8.2 Civil Airport
8.2.1 Overview
9. Airport Runway FOD Detection Systems Market - Geographical Analysis
9.1 Overview
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 South America
10. Competitive Landscape
10.1 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiatives
11.3 Product Developments
12. Company Profiles
12.1 ArgosAI Teknoloji
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Moog Inc
12.3 Navtech Radar
12.4 Pavemetrics
12.5 Plextek Services Limited
12.6 Rheinmetall AG
12.7 QinetiQ Group PLC
12.8 Thales SA
12.9 Xsight Systems Ltd.
12.10 Trex Aviation Systems
12.11 Varec, Inc.
12.12 Smiths Detection Group Ltd. (Smiths Group plc)
12.13 Infologic Pte. Ltd.
12.14 Skylarklabs, Inc.
12.15 Hitachi Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/llvyfa
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