Global Airport Runway Safety System Market Is Expected To Grow with a Healthy CAGR During 2017-2025
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In recent days, runway safety has become a major concern, as runways are prone to potential harms due to severe weather conditions, clashes between aircrafts among others.
Several factors such as frequent accidents, clashes can adversely affect the safety of runways. Runway incursion, confusion, and runway excursion are some of the obvious reasons that bring harm to the safety of runways. Runway incursion takes place due to the incorrect presence of any man, vehicle, or aircraft in the protected area designated for take-off or landing of any aircraft. Runway confusion occurs when a single aircraft unintentionally uses a wrong runway for take-off or landing purpose. Runway excursion is a common incident, as aircrafts very often utilize wrong runways to exit. Frequent occurrence of these incidents are harmful to the safety of the runway. This is driving the airport runway safety system market in recent years. Increasing incidents of air crashes has prompted the Federal Aviation Administration to implement stricter norms and regulation to ensure greater safety of air transportation. Stringent norms and regulations are anticipated to drive the global runway safety system market during the forecast period.
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Flight crew members face interruption and distraction in air operation, and these kinds of miscommunication adversely impact the safety measures of airport runways. These interruptions cause difficulty in air transportation. This, in turn, is estimated to hinder the the airport runway safety system market during the forecast period. Application of smart technology in airport runway maintenance is a growing trend; however, high installation and maintenance cost of smart technology for runway safety measures is anticipated to restrain the airport runway safety system market during the forecast period.
Government has adopted several initiatives toward the safety measure of airport runway system. Development of air transport infrastructure attracts significant investment from public and private organizations. Development of structural innovation for safe take-off and landing of aircraft is projected to fuel the airport runway safety system market during the forecast period.
In terms of system, the global airport runway safety system market can be segmented into radar & landing system and lighting system. The radar & landing system segment dominated the market and it is likely to maintain its dominance of the market during the forecast period. Radar & landing system enhances the navigation and provides effective measures for air traffic control. Considerable technological advancement in radar & landing system helps improve the surveillance to the pilot, thus projecting a high demand for global airport runway safety systems. Varied safety measures for aircraft take-off and landing and related technological breakthrough are anticipated to propel the global airport runway safety system market during the forecast period.
In terms of geographical locations, the global airport runway safety system market can be segmented into North America, Europe, Middle East & Africa (MEA), and Latin America. Asia Pacific held a significant share of the airport runway safety system market. The region includes a large number of emerging economies such as China, India, and South Korea. Demand for runway safety systems is likely to increase during the forecast period due to the rising investment in the aviation industry the region Rising disposable income coupled with increasing business activity fuels the rise of domestic and international air travel. This is a major factor driving the airport runway safety system market in the region. North America held a considerable share of the airport runway safety system market. A Large number of airports in the U.S. are identified as high-risk airports with serious threat from runway incursions. Therefore, the region has to abide by the FAA’s safety standards. FAA emphasizes on the optimization of safety of the aviation industry in the surface and in the air. Stringent guidelines of the FAA help boost the airport runway safety system market in North America.
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Key players operating in the global airport runway safety system market include Honeywell International, Saab, Varec, and ADB airfield solution.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
The main aim of the report is to:
- Enable key stakeholder’s in the market bet right on it
- Understand the opportunities and pitfalls awaiting them
- Assess the overall growth scope in the near term
- Strategize effectively with respect to production and distribution
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