Commercial Aircraft Testing Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Electrical Test Equipment, Hydraulic Test Equipment, Engine Test Equipment, Pneumatic Test Equipment); Aircraft Type (Manned, Unmanned); End User (Commercial, Military) and Geography
Report Code: TIPRE00029701
| No. of Pages: 150
| Category: Aerospace and Defense
| Status: Upcoming
The surge in number of aircraft MRO hangars and rising demand for vibration meters are driving the commercial aircraft testing equipment market growth. A surge in the procurement of various commercial aircraft fleets has led to a substantial rise in the number of aircraft MRO shops or hangars worldwide. The construction of new aircraft MRO hangars and MRO bays is directly proportional to the demand for various testing equipment, which is one of the critical catalyzers of the commercial aircraft testing equipment market.
The "Global Commercial Aircraft Testing Equipment Analysis to 2028" is a specialized and in-depth study of the commercial aircraft testing equipment with a special focus on the global market trend analysis. The report aims to provide an overview of the commercial aircraft testing equipment market with detailed market segmentation by product type, aircraft type, end user and geography. The report provides key statistics on the market status of the leading commercial aircraft testing equipment market players and offers key trends and opportunities in the market.
On the basis of product type the market is segmented into electrical test equipment, hydraulic test equipment, engine test equipment, and pneumatic test equipment
On the basis aircraft type, the market is segmented as manned and unmanned
On the basis end user, the market is segmented as commercial and military
Increasing Investment from government in the aerospace & defense sector drives the market growth
Growth prospects in tourism industry increases the passenger travel propels the market dynamics
Huge demands have resulted in supply backlogs which restraints the market growth
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). The commercial aircraft testing equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the commercial aircraft testing equipment market in these regions.
IMPACT OF COVID-19 ON COMMERCIAL AIRCRAFT TESTING EQUIPMENT MARKET
The outbreak of the COVID-19 pandemic has severely impacted the aerospace industries, which resulted decline in the demand for commercial aircraft testing equipment in the year 2020. The restrictions on aircraft operations during Q2 and Q3 of 2020 disrupted the businesses of independent MRO service providers and airline operators with MRO facilities. The civil aviation industry across the region experienced dramatic changes in the first half of 2020. According to Bureau of Transportation Statistics (BTS), US, the domestic air travel across the US experienced a 97% decrease in passenger revenue from February to April 2020. The Canadian and Mexican aviation industry also experienced similar trends. This impacted the civil aviation manufacturers leading to decline in demand for commercial aircrafts from the region. Therefore, the COVID-19 pandemic negatively impacted the commercial aircraft testing equipment market heavily. Further, after restarting the airline businesses, most airlines are operating with a minimum number of aircraft fleets. In addition, a substantial volume of aircraft fleet was sent to long-term storage as the demand declined post-re-opening of the airline business. This also hampered the market dynamics during the initial phase of 2021.
Get more information on this report :
The report covers key developments in the commercial aircraft testing equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the commercial aircraft testing equipment market are anticipated to provide lucrative growth opportunities in the future owing to growing growing investment from government in aerospace and defense sector.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the commercial aircraft testing equipment market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Avtron Aerospace, Inc.
Hydraulics International Inc.
Lockheed Martin Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Get more information on this report :
The List of Companies
1. Avtron Aerospace, Inc.
2. BAE Systems
3. Bauer Inc.
4. ECA Group
5. Hydraulics International Inc.
6. Lockheed Martin Corporation
7. Astronics Corporation
8. Teradyne Inc.
9. Testek Inc.,
10. TEST-FUCHS GmbH