Technavio, a tech-focused market research firm, has published a new report on the global airport runway safety system market, which is expected to grow at a CAGR of close to 9% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global airport safety system market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global airport runway safety system market are elaborated below:
Airport runway safety system market in the Americas: The market for airport runway safety system market in the Americas is driven by an increase in air traffic and the subsequent rise in number of aircraft. The US, Canada, and Brazil are anticipated to emerge as the key revenue generators in the airport runway safety system market in the Americas.
According to Avimanyu Basu, a lead analyst at Technavio, specializing in research on aerospace, “The forecasted passenger traffic growth for Central America and the Caribbean is expected to reflect by more than 6% per year over the next 20 years. With the growing passenger traffic, the airports across the Americas are either expanding, or new greenfield airports are being developed.”
Airport runway safety system market in EMEA: Growing passenger traffic is a major factor leading to the development of new airports or expanding airport runways installed with highly advanced runway safety systems in EMEA. Furthermore, investments made on refurbishment and upgrade facilities and services by governments of several countries in EMEA is projected to facilitate the growth of the market in this region.
Airport runway safety system market in APAC: The growing demand for air travel has increased the number of airports and pulled higher investments toward runway safety systems in the region drives the growth of the airport runway safety system market in APAC. For instance, in 2015, there were more than 6,350 airports and airfields in the region, of which developing countries such as China and India had 507 and 346 airports, respectively.
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The leading vendors operating in the global airport runway safety system market are:
- ADB Airfield Solutions
- Honeywell International
- Varec
- Saab
Other prominent vendors in the market include Aviation Safety Technologies, Boeing, Indra Navia, and NEC.
A more detailed analysis is available in the Technavio report titled, ‘Global Airport Runway Safety System Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global All-Weather Landing System Market 2016-2020
- Global Instrument Landing System and Visual Landing Aids Market 2016-2020
- Global Unmanned Aerial Vehicle Landing Gear Market 2016-2020
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