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 growing adoption of advanced technologies such as Blockchain, Internet of Things (IoT), Cloud, and Artificial Intelligence (AI) by the aerospace & defense industry is expected to drive the growth of the Europe airport runway FOD systems market in the coming years. The adoption of these technologies enables organizations to streamline the manufacturing of components, ensure enhanced safety of the aircraft and passengers, and process large volumes of data. Furthermore, the increasing adoption of unmanned aerial vehicles (UAVs) by the military personnel for applications such as surveillance, combat operations, transportation and delivery, and battle damage management is also expected to drive the growth of the Europe market during the forecast period. Various advantages of AI such as more consistency and efficiency in operations and less requirement of human resources are expected to increase the demand for AI-based FOD systems, which would also drive the grpwth of the Europe airport runway FOD detection systems market in coming years.
Russia is the hardest-hit country in Europe due to the COVID-19 outbreak, followed by the UK. The two countries are suffering an economic hit due to the lack of revenue from various industries, as these countries have recorded the highest number of COVID-19 positive cases across Europe. Both the countries have substantial number of airports across respective territories. The FOD detection system manufacturers operating in the countries are experiencing substantially decline in orders, which is hampering the FOD detection system manufacturers’ business. European countries have a high concentration of aerospace contractors. Pertaining to the fact that the majority of the countries are experiencing a continuous rise in the number of COVID-19 cases, the manufacturing facilities are encountering workforce scarcity. This is leading to lesser production, which is hindering the businesses of manufacturing. The production volume of various aerospace components is restricted, which has lowered the demand for advanced technologies and components. Aforementioned factors are restraining the Europe airport runway FOD detection systems market.
Based on end use, the civil airport segment led the Europe airport runway FOD detection systems market in 2019. One of the important end use area of airport runway FOD detection systems is civil airports where airport runway FOD detection systems are gaining momentum. The growing number of air passengers across Europe is creating need for the development of new airports and expansion of existing airports. Therefore, along with new airport construction project, investments in airports or runways constructions/expansion are increasing in the region. As a result, there is a growth in the deployment and sale of FOD detection systems in the region. All these factors are driving the growth of the Europe airport runway FOD detection systems market.
The overall Europe airport runway FOD detection systems market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe airport runway FOD detection systems market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, airport runway FOD detection systems market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe airport runway FOD detection systems market. Navtech Radar; Plextek Services Limited; QinetiQ Group plc; Rheinmetall AG; Thales Group; Varec, Inc.; and XSight Systems Ltd. are among the players operating in the market.