Report : Aviation Test Equipment Market to 2027 - Global Analysis and Forecasts by Product Type (Electrical Test Equipment, Hydraulic Test Equipment, Engine Test Equipment, Pneumatic Test Equipment); Aircraft Type (Manned, Unmanned); End User (Commercial, Military)
According to the new research report published by The Insight Partners, titled “Aviation Test Equipment Market - Global Analysis and Forecast to 2027”, the global aviation test equipment market is expected to reach US$ 7.69 Bn by 2027, registering a CAGR of 4.1% during the forecast period 2019-2027.
The global aviation landscape continues to grow year on year, which is majorly influenced by the rise in passenger traffic across the globe. Owing to the fact that, every region worldwide is experiencing growth in a number of air passengers, the commercial airlines are gradually increasing their fleet size, which is leading the airlines to also opt for advanced technologies for different purposes. The maintenance, repair, and overhaul activities are among the integral part of the airlines, which include various type of check, that require different types of testing equipment. Owing to the increasing frequency of maintenance, repair, and overhaul activities, the procurement of testing equipment among the airlines and MRO specialists are increasing, which is catalyzing the growth of aviation test equipment market.
On the other hand, the aircraft manufacturers, component manufacturers also procure test equipment from different manufacturers, to test their components at various level of manufacturing. The hydraulic test equipment, pneumatic test equipment, electrical/electronic test equipment, and engine test equipment play a vital role in developing robust components. The aircraft manufacturers and component manufacturers are witnessing significant pressure from the commercial airline, owing to the increasing demand for air travel. The growing pressure is compelling the aircraft OEMs and component OEMs to design, develop, test, and deliver the products at a lesser time. This has led the end-users to increase their procurement pattern of aviation test equipment, thereby, throttling the aviation test equipment market.
The military forces across the globe are also one of the critical revenue generation sources in the aviation test equipment market. Increasing focus towards modernization of air force and their aircraft fleet, the military forces are increasingly emphasizing on procurement of aviation test equipment. The adoption of various types of aviation test equipment by the military forces, enable the forces to keep their aircraft mission-ready, which is heavily catalyzing the aviation test equipment market.
The aviation test equipment market is categorized based on product type, aircraft type, end-users, and geography. The different types of product type include electrical/electronic test equipment, hydraulic test equipment, engine test equipment, and pneumatic test equipment. The electrical/electronic test equipment market is the most prominent segment under the product type segment throughout the forecast period. The aircraft type segment includes manual and unmanned aircraft. On the other hand, the commercial sector and the military sector are considered under the end-users segment. The commercial sector comprises aircraft OEMs, component manufacturers, airlines, aircraft MRO specialists. Geographically, the aviation test equipment market is classified based on North America, Europe, Asia Pacific, Middle East, and Africa, and South America.
The key manufacturers covered in the aviation test equipment market include Avtron Aerospace, Inc., BAE Systems, Bauer Inc., ECA Group, Hydraulics International Inc., Lockheed Martin Corporation, Astronics Corporation, Teradyne Inc., Testek Inc., and TEST-FUCHS GmbH, among others. Several other players are also functioning in the aviation test equipment market and are also contributing substantial revenue share.
Aviation Test Equipment Market — Geographic Breakdown, 2018