Global demand for aviation test equipment market was valued at approximately USD 6.84 billion in 2019, and is expected to generate revenue of around USD 9.03 billion by end of 2026, growing at a CAGR of around 4.1% between 2020 and 2026.
The report covers forecast and analysis for the aviation test equipment market on a global, regional and country level. The study provides historic data from 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD million). The study includes drivers and restraints for the aviation test equipment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the aviation test equipment market on a global level.
In order to give the users of this report a comprehensive view on the aviation test equipment market. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the aviation test equipment market has also been included in the study. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new system launch, agreements, partnerships, collaborations & joint ventures, research& development, system and regional expansion of major participants involved in the market on the global and regional basis.
The study provides a decisive view on the aviation test equipment market by segmenting the market based on system and application. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2026. System segments covered under this study includes electric systems test equipment, hydraulic systems test equipment, and pneumatic systems test equipment. Key application segments covered under this study includes commercial aviation test equipment and military aviation test equipment. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. This segmentation includes demand for aviation test equipment based on the individual system in all the regions.
The report also includes detailed profiles of end players such as Boeing, Honeywell International, Inc., Moog Inc., SPHEREA Test & Services (SPHEREA), Rockwell Collins, Airbus, and Teradyne Inc. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.
This report segments the global aviation test equipment market as follows:
Global Aviation Test Equipment Market: System Segment Analysis
Global Aviation Test Equipment Market: Application Segment Analysis
Global Aviation Test Equipment Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Aviation Test Equipment market. Zion Research has collected and analyzed key data belong to the global Aviation Test Equipment market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Aviation Test Equipment across the world has been calculated through primary and secondary research.
Zion Research employs a combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Aviation Test Equipment industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Aviation Test Equipment market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Aviation test equipment are used in the aviation industry to maintain and upgrade the pneumatic, electrical power systems and hydraulic systems. They are used for testing aircraft, artificial satellites, and spacecraft. Aviation is the practical aspect or art of aeronautics, design, development, production, operation and use of aircraft, particularly heavier than air aircraft. Aviation test equipment manufacturer has been developing innovative test technology to support the needs of commercial and military aircraft manufacturers, component OEMs, and MRO facilities worldwide.
Growth in worldwide aerospace and defense industry and rising R&D activities of aviation test equipment are expected to be the major drivers for the global aviation test equipment market. Rising demand from commercial aerospace and increasing use of software adaptable solution is expected to support the aviation test equipment market growth in the near future. In addition, increasing trends towards software-adaptable solutions, multi-use test systems for multiple weapons platform and overall technological advancement is also expected boost the demand for the aviation test equipment. However, long-term investment funding may curb the demand for aviation test equipment within the forecast period. Nonetheless, the greening of aerospace and defense products are expected open new avenues for the market growth over the next few years.
Based on the system, aviation test equipment market has been segmented into electric systems test equipment, hydraulic systems test equipment, and pneumatic systems test equipment. In 2019, hydraulic systems test equipment was the major segment of the global aviation test equipment market in terms of revenue. It accounted for almost 40% share of the overall aviation test equipment market in the same year. Electric systems test equipment is expected to grow at the highest rate in the forecast period. Different application segments of the aviation test equipment market include commercial and military aviation application. Commercial aviation segment dominated the aviation test equipment market in 2019, which accounted for almost 60% market share of the total market. It is expected to grow at a significant rate during the forecast period.
Demand for aviation test equipment was highest in North America, accounting for around about 35% of the market share in 2019. In terms of revenue, Asia-Pacific is expected to emerge as the fastest growing region in the forecast period. The Middle East and Africa are projected to grow at the moderate rate, due to increasing aerospace activity in these regions.
Some of the key players in aviation test equipment market include Boeing, Honeywell International, Inc., Moog Inc., SPHEREA Test & Services (SPHEREA), Rockwell Collins, Airbus, and Teradyne Inc.
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