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.
Global aircraft manufacturers are more inclined to increase their production to cater to the surge in aircraft demand. The aircraft demand in developing countries is increasing with the demographic & economic growth, change in tourism trends, and development in existing & new routes. The demand for commercial aircraft in Asia-Pacific, the Middle East, and South America is expected to fuel by a recovery in global GDP and growth in passenger travel demand. As per the International Air Transport Association (IATA), the global commercial aviation passenger count in 2018 accounted for 4.3 Bn, and the same is expected to rise to 8.2 Bn by 2037. On a global scenario, the maximum revenue generating region is anticipated to be the Asia Pacific, with an estimated passenger count of 3.9 Bn by 2037. By 2037, China is expected to outpace the US in terms of to, from and within China aviation passenger number. It is expected that the total number of aviation passengers in China to climb up to 1.6 Billion as compared to 500+ Mn in 2016. Similarly, India is foreseen to displace the UK to position itself as the third-largest commercial aviation zone globally, carrying ~414 Mn by 2037 as compared to 141 Million in 2016. In 2018 itself, Airbus delivered 34% of its total commercial aircraft deliveries in the Asia Pacific region. The MEA is also expected to grow at a stronger rate, especially in the countries, namely, United Arab Emirates, Qatar, Saudi Arabia, and South Africa. The Americas and Europe are expected to grow at a moderate pace from 2018 to 2037. The rising air travel demand by passengers has subsequently resulted in increased production of commercial aircraft, which in response have significantly contributed to the growth of the aviation test equipment market.
As the demand for air transportation is increasing exponentially, the number of aircraft orders and deliveries are also increasing rapidly. In order to meet the demand of escalating air traffic, the airlines and defense forces are procuring aircraft integrated with latest technologies. Thus, developed aircraft with enhanced technologies would further create an opportunity for the aviation test equipment market.
Key findings of the study:
The introduction of next-generation technologies in recent years has resulted in the advancement of aviation test equipment. For instance, the introduction of the first cockpit control panel robot tester in the world. Aviation test equipment manufacturers are also bringing disruptive innovative technological models that are simplifying the testing and evaluation process of aircraft systems as well as components. In January 2019, Lufthansa Technik developed the robotic process for more reliable, consistent testing of cockpit controls. Also, in May 2018, Tel-Instrument Electronics Corp. introduced flight-line Test Set, the “SDR-OMNI”. The new test set leverage true software-designed radio technology that allows testing of all common avionics functions in one 4.5 pound test set.
Moreover, companies are also joining forces to offer complete test solutions for both commercials as well as military aircraft. For instance, Testek and Avtron Aerospace offers a wide range of aircraft tests from development to manufacturing to component and platform design. Also, Barfield, US subsidiary of Aero Maintenance Group LLC, offers 3D-scanning technology for inspection and evaluation of hail damage to aircraft.
Some of the key players operating in the global 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.
Access Full Summary @ https://www.theinsightpartners.com/reports/aviation-test-equipment-market
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.