Overview of the global airport runway safety system market
According to Technavio’s analyst, the global airport runway safety system market is anticipated to grow at a steady rate and post a CAGR of more than 8% during the forecast period. The emergence of ground-based augmentation system (GBAS) for CAT-III will drive the growth prospects for the global airport runway safety system market until the end of 2021. The advanced GBAS landing system (GLS) for CATII or III precision approach allows an aircraft with an autopilot landing system to safely land with a minimum of 200-meter runway visual range (RVR) and at a decision height of 50 meters. Additionally, CAT-III GBAS also offers various benefits such as increased air traffic capacity, air traffic management, reduce air traffic noise, and enable curved approaches, and landing on close parallel runways. Moreover, research and developmental activities are conducted to reduce the technical risks associated with GBAS and authenticate new requirements in terms of GAST-D. All the above factors are likely to accelerate the rate of revenue generation in the global airport runway safety system market.
The implementation of stringent public regulations towards the development of airtight runway safety infrastructure will drive the growth prospects for the global airport runway safety system market for the next four years. For instance, the Runway Safety Area (RSA) improvements in the US ensures an additional level of safety for landing and departing aircraft. Similarly, the European Action Plan directed toward the prevention of runway incursions was released in 2003. All these public regulations educate the concerned personnel regarding the associated communication breakdown, ground navigation errors, and improper surface signs and markings.
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Competitive landscape and key vendors
The global runway safety system market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that these vendors are increasingly competing against each other based on factors such as product quality, reliability, cost, and aftermarket service. Vendors are also focusing on providing high-quality and cost-effective landing systems with latest technology and materials for surviving and succeeding in this highly competitive environment.
Key vendors in this market are -
- ADB Airfield Solutions
- Honeywell International
- Varec
- Saab
Other prominent vendors in the market include Aviation Safety Technologies, Boeing, Indra Navia, and NEC.
Segmentation by systems and analysis of the global airport runway safety system market
- Radar and landing systems
- Lighting system
The radar and landing systems segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. The runway systems such as highly advanced radar systems provide navigation, surveillance to pilots and air traffic control (ATC) operators, and safe and reliable approach on runways. For instance, GBAS is an airport-based precision approach landing system that is intended to improve the global positioning system (GPS).
Segmentation by geography and analysis of the global airport runway safety system market
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. One of the major factors responsible for the market’s growth in the region includes several strategic undertakings such as mergers and acquisitions, smart airport development, and capacity discipline. Also, the growing passenger traffic in the region that leads to the expansion of airports or the development of new greenfield airports will also fuel the growth of the market in the Americas.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global airport runway safety system market?
- What are the key market trends impacting the growth of the global airport runway safety system market?
- What are the challenges to market growth?
- Who are the key vendors in the global airport runway safety system market?
- What are the market opportunities and threats faced by the vendors in the global airport runway safety system market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global airport runway safety system market?
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