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Opportunities For The Global Aerospace Testing Market To Reach $5.7 Billion By 2025
According to a new market report published by Lucintel, the future of the global aerospace testing market looks promising with opportunities in the commercial/regional aircraft, business jets, helicopters, and military aircraft. The global aerospace testing market is expected to reach an estimated $5.7 billion by 2025 with a CAGR of 1.8% from 2020 to 2025. 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, non-destructive and destructive testing are used in commercial aircraft, business jets, helicopter, and military aircraft to ensure that the aircrafts meets the safety requirement as per regulatory standards. 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 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.
North America is expected to remain the largest region and witness the highest growth over the forecast period due to 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 introduction of thin film ultrasonic sensor, sweeper scanner for ultrasonic testing and introduction of advanced NDT inspection device. Airbus, Boeing, NTS, SGS, Mistras, Innertek, Exova, MTS, Cincinnati Sub-Zero 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, method type, component type and region and has come up with a comprehensive research report titled, “Growth Opportunities in the Global Aerospace Testing Market 2020-2025: 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, component, and region as follows:
By Method Type [$B Shipment analysis from 2014 to 2025]:
• Non- Destructive Testing Method
Ø Ultrasonic Testing
Ø Fluorescent Testing
Ø Eddy current Testing
Ø Visual Testing
Ø Magnetic particle Testing
Ø Radiographic Testing
Ø Acoustic Testing
Ø Macro etching Testing
• Destructive Testing Method
Ø Dynamic Testing
Ø Static Testing
By Aircraft Type [$B Shipment analysis from 2014 to 2025]:
• Commercial/Regional Aircraft
• Business Jets
• Military Aircraft
By Sourcing Type [$B Shipment analysis from 2014 to 2025]:
• In-House Testing
• Outsource Testing
By Component Type [$B Shipment analysis from 2014 to 2025]:
By Region [$B Shipment analysis from 2014 to 2025]:
• North America
• Asia Pacific
• The Rest of the World
This 159-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 email us at email@example.com. 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. Lucintel 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/regional aircraft, business jet, helicopter, and military aircraft), by sourcing type (in-house testing and outsource testing), by method type (non-destructive testing and destructive testing), 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, challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the 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 key players pursuing for business growth?
Q.10 What are some of the competing service and processes in this market and how big of a threat do they pose for loss of market share by service substitution?
Q.11 What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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