The global Aviation Test Equipment Market accrued earnings worth approximately 7.10 (USD Billion) in 2021 and is predicted to gain revenue of about 11.31(USD Billion) by 2028, is set to record a CAGR of nearly 4.25% over the period from 2022 to 2028.
The global Aviation Test Equipment Market accrued earnings worth approximately 7.10 (USD Billion) in 2021 and is predicted to gain revenue of about 11.31(USD Billion) by 2028, is set to record a CAGR of nearly 4.25% over the period from 2022 to 2028. The study provides assessment and analysis of the Aviation Test Equipment Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).
Aviation Test Equipment Market: Outlook
Aviation test equipment is utilized for calibration, evaluation, and inspection as well as testing of aircraft components. Reportedly, it refers to myriad kinds of devices utilized in maintenance of hydraulic tools & electrical power in an aircraft. Moreover, aim of these instruments is to inspect & resolve electrical as well as mechanical issues along with carrying out performance checks. The equipment also detects whether brakes or other components of aircraft need repairs or not. It aims at determining component failures in aircraft, enhance reliability & safety of aircraft parts, minimize life-cycle cost, and improve testability. For the record, vacuum & pressure instrument chambers, single axis rate tables, manual turn & tilt tables, and tachometer testers are few of the common aviation test devices.
In addition to this, few of key functions of product are effective reporting management and monitoring & memorizing test results. Apart from this, aviation test equipment performs routine maintenance of aircraft along with diagnosing its electrical & mechanical problem. It also inspects work of process of aircraft operations for maintaining the standard of its performance. Testing equipment for aviation industry includes radar test sets, communication test sets, traffic collision avoidance systems, GPS satellite simulators, air data test sets, battery testers, tactical air navigation system testers, engine test sets, altimeter test sets, transponder test sets, and pilot static adapters.
Aviation Test Equipment Market: Growth Dynamics
Increase in defense budget and high fund allocation by government on research & development activities pertaining to aviation test equipment will embellish market trends. In addition to this, large-scale use of product in defense aircrafts will open new growth dimensions for aviation test equipment industry. Furthermore, rise in disposable income and spending power of individuals has resulted in thriving of tourism sector, thereby paving way for expansion of aviation test equipment industry. Additionally, low aircraft fares have increased preference for airplane as a mode of travel, thereby providing impetus to expansion of aviation test equipment market.
Moreover, rise in aerospace activity has culminated into expediting demand for aviation test equipment globally. A prominent increase in use of unmanned aircrafts and UAVs in defense sector has translated into humungous demand for production & sale of aviation test equipment industry.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Aviation Test Equipment Market: Regional Growth Dynamics
Europe To Make Notable Contributions Towards Regional Market Size By 2028
Rapid expansion of aviation test equipment industry in Europe over forecasting period can be credited to its advanced technological capability in aerospace activities. In addition to this, major innovations & expertise of western countries in aviation sector will prompt regional market surge. Additionally, presence of giant manufacturers in continent will also contribute sizably towards growth of aviation test equipment market in Europe.
Aviation Test Equipment Market: Competitive Insights
Some of key participants profiled in report and influencing industry space are Avtron Aerospace, Inc., Rolls- Royce Holdings plc, Airbus SE, Moog, Inc., DAC International Inc., DMA-Aero, International Aero Engrg LLC, Honeywell International, Inc., The Boeing Company, General Electric Company, Rockwell Collins, Inc., Testek Solutions, Tesscorn Systems India Pvt. Ltd., The 3M Company, and Teradyne, Inc.
The global Aviation Test Equipment Market is segmented as follows:
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.
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 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.
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.
Increase in defense budget and high fund allocation by government on research & development activities pertaining to aviation test equipment will embellish market trends.
According to Zion market research report, The global Aviation Test Equipment Market accrued earnings worth approximately 7.10 (USD Billion) in 2021 and is predicted to gain revenue of about 11.31(USD Billion) by 2028, is set to record a CAGR of nearly 4.25% over the period from 2022 to 2028.
Europe will contribute sizably towards the global market revenue over the projected timeline. A massive increase in Aviation Test Equipment Market size in sub-continent in 2022-2028 can be due to its advanced technological capability in aerospace activities.
The key industry participants leveraging business space include Avtron Aerospace, Inc., Rolls- Royce Holdings plc, Airbus SE, Moog, Inc., DAC International Inc., DMA-Aero, International Aero Engrg LLC, Honeywell International, Inc., The Boeing Company, General Electric Company, Rockwell Collins, Inc., Testek Solutions, Tesscorn Systems India Pvt. Ltd., The 3M Company, and Teradyne, Inc.