Global Runway Debris Monitoring System (RDMS) market will reach 26.21 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/3

Airport runway debris monitoring system (RDMS) market revenues reached US$ 24.36 million in revenues in 2017. The market size will reach 26.21 million US$ in 2025 with a CAGR of 0.92% during the forecast period. 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 debris monitoring system (RDMS) 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 the report finding that four players account for over 83% revenue share of the market in 2017. The companies –Stratech Group, QinetiQ, Xsight Systems, and Trex Enterprises continue to focus on R&D, global expansion, and competitive pricing to strengthen their position.

North America continues to maintain its position as one of the most lucrative markets for stakeholders in the airport runway debris monitoring system (RDMS) market. The airport runway foreign object debris (FOD) installation and sales in the region can be attributed to growing investments in airport safety and maintenance. Asia Pacific continues to maintain its fastest growing position attributing to the high number of domestic and international air passengers from China, India, Thailand, and Southeast Asian countries. With Dubai being the world’s busiest international airport and Saudi Arabia requiring more capacity to cater for the millions of pilgrims visiting every year, construction in the Middle East and Africa is following demand. Middle East also plays an important role in the market.

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.

Asia Pacific and Americas, notably the US, will continue to offer sustained opportunities to airport runway foreign object debris (FOD) detection system market players.

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