FactMR, in its latest business intelligence study, depicts the nuts and bolts of the global foreign object debris detection systems market. The foreign object debris detection systems report presents detailed information regarding the drivers, restraints, opportunities and trends affecting foreign object debris detection systems market growth. Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the foreign object debris detection systems report elaborates the market behavior of each vendor operating in the foreign object debris detection systems market.
The foreign object debris detection systems report considers the following years to present the overall market growth:
- History Year: 2013 – 2017
- Estimated Year: 2028
- Forecast Year: 2018 – 2028
Airport runway foreign object debris (FOD) detection systems market revenues are likely to witness a decline in 2018, after surpassing US$ 100 million in revenues in 2017. A new study by Fact.MR projects global revenues to grow at a healthy 4% CAGR through 2028. The report opines that market prospects will continue to be heavily influenced by overall investment in airport infrastructure development by governments around the globe.
The airport runway foreign object debris detection system market continues to be heavily consolidated. The level of consolidation in the airport runway foreign objects debris (FOD) detection systems market can be gauged from Fact.MR’s finding that four players account for over two-thirds revenue share of the market in 2017. The companies – The Stratech Group Limited, Moog Inc., Xsight Systems Ltd., and Trex Aviation Systems – continue to focus on R&D, global expansion, and competitive pricing to strengthen their position.
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The FactMR study offers a comprehensive analysis on the key influencing factors for airport runway foreign object debris (FOD) detection systems market. According to the study, growing air traffic, especially in fast-growing economies of Asia Pacific is inducing investments in airport infrastructure. The International Air Transport Association (IATA) has marked out Asia Pacific as the biggest driver for increased air travel globally. China, India, Thailand, and Turkey already have some of the busiest airports in the world – sensing the emerging opportunities in a consolidated marketplace, players are likely to focus on competitive pricing to win government contracts. The consolidated nature of the market and heavy reliance on government contracts has also led to high focus on partnerships among market players.