Aviation Test Equipment Market - Global Industry Analysis

Description

Table Of Content

Methodology

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:

• Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
• Helps in validating and strengthening the secondary research findings
• Further, develops the analysis team’s expertise and market understanding
• Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

• Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
• Purchasing managers, technical personnel, distributors and resellers
• Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

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:

• Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
• IDC and other relevant magazines
• Internal and external proprietary databases, and relevant patent and regulatory databases
• National government documents, statistical databases and market reports

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:

• Demographic data: Population split by segments
• Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
• Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
• Data is then cross-checked by an expert panel.

Free Analysis

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.