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Opportunities For The Global Aerospace Testing Market To Reach $5.4 Billion By 2023
According to a new market report published by Lucintel, the future of the global aerospace testing market looks promising with opportunities in the commercial aircraft, business jets, helicopters, and military aircraft. The global aerospace testing market is expected to reach an estimated $5.4 billion by 2023 with a CAGR of 2.1% from 2018 to 2023. The major growth drivers for this market are increasing aircraft deliveries, adoption of new materials in aircraft, and stringent aviation regulations & certification standards for the aircraft safety.
In this market, commercial aircraft, business jets, helicopter, and military aircraft are the major aircraft types. Lucintel forecasts that commercial aircraft will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing aircraft deliveries.
Within the global aerospace testing market, in-house testing is expected to remain the largest segment by sourcing type, as it reduces cost and time for testing. Outsource testing is expected to witness the highest growth during the forecast period.
... and destructive testing are the two methods of testing. Non-destructive testing is expected to remain the largest segment during the forecast period because it helps OEMs in replacing and repairing the components before costly problems arise.
There are five main types of testing techniques: dynamic testing, material testing, climatic testing, acoustic testing, and EMC/EMI. Lucintel forecasts that dynamic testing will remain the largest segment during the forecast period because it helps to determine the overall performance of aircraft and ensures the safety of the aircraft.
North America is expected to remain the largest region and witness the highest growth over the forecast period due to a significant increase in aircraft deliveries in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, include new advanced technologies for testing aircraft such as 3D scanning and magnetic optic imagers. Airbus, Boeing, Lockheed Martin, NTS, SGS, Mistras, Innertek, Exova, MTS, and Dayton T Brown are among the major providers of aerospace testing.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global aerospace testing market by aircraft type, sourcing type, testing method type, testing technique, component type, and region and has come up with a comprehensive research report entitled, “Growth Opportunities in the Global Aerospace Testing Market 2018-2023: Trends, Forecast, and Market Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global aerospace testing market by aircraft type, sourcing type, testing method type, testing technique, component, and region as follows:
By Aircraft Type ($M shipment analysis from 2012 to 2023):
• Commercial Aircraft
• Business Jets
• Military Aircraft
By Sourcing Type ($M shipment analysis from 2012 to 2023):
• In-House Testing
• Outsource Testing
By Testing Method Type ($M shipment analysis from 2012 to 2023):
• Non- Destructive Testing
• Destructive Testing
By Testing Technique ($M shipment analysis from 2012 to 2023):
• Dynamic Testing
• Material Testing
• Climatic Testing
• Acoustic Testing
• EMC/EMI Testing
By Component Type ($M shipment analysis from 2012 to 2023):
By Region ($M shipment analysis from 2012 to 2023):
• North America
• Asia Pacific
• The Rest of the World
This 152 - page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Aerospace Report, Defense Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global aerospace testing market by aircraft type (commercial aircraft, business jet, helicopter, and military aircraft), by sourcing type (in-house testing and outsource testing), by testing method type (non-destructive testing and destructive testing), by testing technique (dynamic, material, climatic, acoustic, and EMC/EMI), by component type (airframe, engine, and interior), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in this market?
Q.5 What are the business risks and threats of this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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