Found this on the way home, some one popped the lock on it, which was laying on the ground, it makes air compressor noises and looks exactly like an air compressor or some sort of compressor system, however there is no pipes going to or from it... It was starting and stopping at about minute intervals and a little neon lamp was kicking on and off when it did it... What  Is it for?

Well that's interesting. Perhaps some sort of emergency tire inflator? I am going to post this in the /r/whatisthisthing subreddit and see what they come up with.

ive seen some communication system wiring (or fiber?) that has a pressurized sheath to keep moisture out that uses dried, compressed air.

youll notice that the label on the control panel says "air dryer".  hard to read but its there

ive seen some communication system wiring (or fiber?) that has a pressurized sheath to keep moisture out that uses dried, compressed air.

youll notice that the label on the control panel says "air dryer".  hard to read but its there

That is what it is for, This site has a nice write up about how it all works.