Aerospace Testing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET OVERVIEW
Aerospace testing includes a broad range of aircraft lab tests, such as material testing, environmental testing, and acoustic testing of different aircraft types to meet the international standards and comply to the government norms. The testing is done through different methods, primarily non-destructive, such as ultrasonic testing, eddy current testing, radiography, and magnetic particle testing. Rising incidents of product recall globally, implementation of stringent government regulations and standards across different sectors, mounting consumption of goods in emerging countries, and increase in global counterfeiting and piracy activities are boosting aerospace testing market.
MARKET SCOPE
The "Global Aerospace Testing Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aerospace testing market with detailed market segmentation by sourcing type, aircraft type, testing method and geography. The report provides key statistics on the market status of the leading aerospace testing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
MARKET DYNAMICS
Drivers
Restraints:
REGIONAL FRAMEWORK
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 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aerospace Testing 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 Porter's Five Forces analysis, highlighting the factors affecting the aerospace testing market in these regions
IMPACT OF COVID-19 ON AEROSPACE TESTING MARKET
The outbreak of the COVID-19 has severely impacted the defense, aerospace, aviation and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption is expected to leave an impact on the aerospace industry through till 2021. There has been a reduction in the production volume of commercial aircrafts, due to which the demand for aerospace testing market has been severely affected. Moreover, there has been a halt in overall commercial flights across the world which has led to a decrease in the demand for aerospace services such as testing. Notably, major aircraft manufacturers, such as Boeing and Airbus, reduced their production forecasts by 50%. The total airlines' industry revenues dropped by 40% to $328 billion in 2020 due to the declining demand for air travel and wide-scale flight cancellation. However, demand from defense sector has remained stable and the market is expected to regain momentum with the resumption of aircraft production and increase in air travel demand.
By Type
By Aircraft Type
By Testing Method
MARKET PLAYERS
The report covers key developments in the Aerospace Testing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals 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 payers from Aerospace Testing market are anticipated to lucrative growth opportunities in the future with the rising demand for Aerospace Testing in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Aerospace Testing 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.
Aerospace testing includes a broad range of aircraft lab tests, such as material testing, environmental testing, and acoustic testing of different aircraft types to meet the international standards and comply to the government norms. The testing is done through different methods, primarily non-destructive, such as ultrasonic testing, eddy current testing, radiography, and magnetic particle testing. Rising incidents of product recall globally, implementation of stringent government regulations and standards across different sectors, mounting consumption of goods in emerging countries, and increase in global counterfeiting and piracy activities are boosting aerospace testing market.
MARKET SCOPE
The "Global Aerospace Testing Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aerospace testing market with detailed market segmentation by sourcing type, aircraft type, testing method and geography. The report provides key statistics on the market status of the leading aerospace testing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type, market is segmented into material testing, environmental testing, mechanical testing, acoustic testing, and others.
- On the basis of aircraft type, market is segmented into commercial aircraft, military aircraft, general aviation, and UAV.
- Based on testing method, the market is segmented into ultrasonic testing, resonance testing, radiography, eddy current testing, magnetic particle testing, and others.
MARKET DYNAMICS
Drivers
o Adoption of advanced technologies in aerospace manufacturing
o Requirement of compliance to international standards
Restraints:
o Large number of counterfeit products.
REGIONAL FRAMEWORK
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 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aerospace Testing 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 Porter's Five Forces analysis, highlighting the factors affecting the aerospace testing market in these regions
IMPACT OF COVID-19 ON AEROSPACE TESTING MARKET
The outbreak of the COVID-19 has severely impacted the defense, aerospace, aviation and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption is expected to leave an impact on the aerospace industry through till 2021. There has been a reduction in the production volume of commercial aircrafts, due to which the demand for aerospace testing market has been severely affected. Moreover, there has been a halt in overall commercial flights across the world which has led to a decrease in the demand for aerospace services such as testing. Notably, major aircraft manufacturers, such as Boeing and Airbus, reduced their production forecasts by 50%. The total airlines' industry revenues dropped by 40% to $328 billion in 2020 due to the declining demand for air travel and wide-scale flight cancellation. However, demand from defense sector has remained stable and the market is expected to regain momentum with the resumption of aircraft production and increase in air travel demand.
Aerospace Testing Market Report Analysis
Aerospace Testing Market
-
CAGR (2023 - 2031)XX% -
Market Size 2023
US$ XX Million -
Market Size 2031
US$ XX Million
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- AeroTEC
- Applied Technical Services
- DEKRA CERTIFICATION B V
- Element Materials Technology
- Laboratory Testing Inc
- NTS
- OPAL RT TECHNOLOGIES Inc
- Phoenix LLC
- TUV SUD
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
By Type
- Material Testing
- Environmental Testing
- Mechanical Testing
- Acoustic Testing
- Others
By Aircraft Type
- Commercial Aircraft
- Military Aircraft
- General Aviation
- UAV
By Testing Method
- Ultrasonic Testing
- Resonance Testing
- Radiography
- Eddy Current Testing
- Magnetic Particle Testing
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The report covers key developments in the Aerospace Testing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals 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 payers from Aerospace Testing market are anticipated to lucrative growth opportunities in the future with the rising demand for Aerospace Testing in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Aerospace Testing 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.
- AeroTEC
- Applied Technical Services
- DEKRA CERTIFICATION B.V.
- Element Materials Technology
- Laboratory Testing Inc.
- NTS
- OPAL-RT TECHNOLOGIES, Inc.
- Phoenix, LLC
- TÜV SÜD
- VTEC Laboratories Inc.
Aerospace Testing Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | XX% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1.AeroTEC
2.Applied Technical Services
3.DEKRA CERTIFICATION B.V.
4.Element Materials Technology
5.Laboratory Testing Inc.
6.NTS
7.OPAL-RT TECHNOLOGIES, Inc.
8.Phoenix, LLC
9.TUV SUD
10.VTEC Laboratories Inc.
1.AeroTEC
2.Applied Technical Services
3.DEKRA CERTIFICATION B.V.
4.Element Materials Technology
5.Laboratory Testing Inc.
6.NTS
7.OPAL-RT TECHNOLOGIES, Inc.
8.Phoenix, LLC
9.TUV SUD
10.VTEC Laboratories Inc.
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