Aviation Test Equipment Market Analysis 2021-2031 | Trends & Top Players
The Aviation Test Equipment Market size is projected to reach US$ 7.62 billion by 2031 from US$ 5.15 billion in 2023. The market is expected to register a CAGR of 5.0% in 2023–2031. 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. Moreover, companies are also joining forces to offer complete test solutions for both commercial 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.
Aviation Test Equipment Market Analysis
The aircraft manufacturers across the globe are experiencing significant demand from their customers owing to increasing air travelers, military movements, cargo volumes, and combat-ready aircraft. The continually rising procurement of aircraft, both commercial and military, is pressuring the aircraft manufacturers to procure an increased quantity of testing equipment. The sheer demand for this equipment from aircraft manufacturers has led to an increase in test equipment manufacturers. A large number of test equipment manufacturers is benefiting the buyers as this helps in comparing between different suppliers depending on their products, lead time, contract valuation, and brand value.
Aviation Test Equipment Market Overview
The aviation test equipment ecosystem comprises of various stages that further includes dedicated procedures. With an objective to meet the customer expectations, the market players operating in the aviation test equipment market engage themselves in offer robust products and services. The test equipment manufacturers operating across the globe procure various component from different suppliers. Various suppliers supply components such as sensors, data loggers, pressure gauge, and displays. These component suppliers regularly face tremendous pressure from the testing equipment manufacturing companies to deliver their products. The brand value of component suppliers is of utmost important attributing to the fact that the quality of the component is essential for manufacturing the best quality testing equipment. With an objective to maintain long term business relationships, the component suppliers strive hard to deliver the highest quality products at a competitive price. Lead time is also another parameter the component suppliers emphasize on.
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Aviation Test Equipment Market: Strategic Insights
Market Size Value in US$ 5,381.0 market Million in 2018 Market Size Value by US$ 7,692.3 Million by 2027 Growth rate CAGR of 4.1% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Aviation Test Equipment Market: Strategic Insights
Market Size Value in | US$ 5,381.0 market Million in 2018 |
Market Size Value by | US$ 7,692.3 Million by 2027 |
Growth rate | CAGR of 4.1% from 2019-2027 |
Forecast Period | 2019-2027 |
Base Year | 2019 |
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Speak to AnalystAviation Test Equipment Market Drivers and Opportunities
Significant Rise in Demand for Air Travel Resulting in Increased Commercial Aircraft Production
The global aviation sector is witnessing rise in demand for new aircraft models to increase the overall fleet of aircraft is one of the major factors driving the growth for aviation test equipment market. The rising air passenger traffic is further likely to increase the number of aircraft procurement and expected to propel the demand for test equipment in the aviation sector. Further, the overall fleet of commercial aircraft in 2022 stood at around 27,385 across different regions that reached to ~28,398 commercial aircraft in 2023 which shows the growth of around one thousand aircraft in a single year. Such factors have been pushing the growth for aviation test equipment market across different region.
Rising Procurement and MRO Activities of Military Aircraft/Helicopters/UAVs
The rising procurement of military aircraft and helicopters is another major factor likely to boost the procurement of aviation test equipment across different regions. Further, the applications of aviation test equipment into military aircraft includes engine maintenance, landing gear maintenance, avionics maintenance, and many more. The growing aviation MRO industry is another major factor likely to generate new opportunities for market vendors during the forecast period.
Moreover, the increasing deployment of UAVs in the military forces of different countries is another major factor expected to boost the deployment of aviation test equipment among the armed forces and MRO companies that provide services for military aircraft/helicopters/UAVs.
Aviation Test Equipment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Aviation Test Equipment Market analysis are product type, aircraft type, end user, and geography.
- Based on product type, the Aviation Test Equipment Market has been segmented into electrical/electronic test equipment, hydraulic test equipment, engine test equipment, pneumatic test equipment. The electrical/electronic test equipment segment held a larger market share in 2023.
- By aircraft type, the Aviation Test Equipment Market has been segmented into manned and unmanned. The manned segment held the largest share of the market in 2023.
- In terms of end user, the Aviation Test Equipment Market has been segmented into commercial and military. The commercial segment dominated the market in 2023.
Aviation Test Equipment Market Share Analysis by Geography
The geographic scope of the Aviation Test Equipment Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Aviation Test Equipment Market in 2023, whereas, Asia Pacific region is likely to expected to experience the highest CAGR during the forecast period. This is due to the growth in number of aircraft production from various OEMs such as Boeing, Airbus, Textron, Bombardier, Bell Helicopters, Lockheed Martin Corporation, and Northrop Grumman Corporation. These companies are getting larger orders for aircraft from different customers around the world which is further driving the demand for aviation test equipment market across the North America region.
Aviation Test Equipment Market Report Scope
Aviation Test Equipment Market News and Recent Developments
The Aviation Test Equipment Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aviation test equipment market and strategies:
- In May 2023, ATEQ Aviation launched its brand-new Battery Analyzer the ATEQ BA 1500, and its new Battery Charger ATEQ BC 1500. (Source: ATEQ Aviation, Press Release/Company Website/Newsletter)
- In July 2022, Airbus and CFM International, a 50/50 joint company between GE and Safran Aircraft Engines, collaborated to flight test CFM’s cutting-edge open fan engine architecture. (Source: Airbus, Press Release/Company Website/Newsletter)
Aviation Test Equipment Market Report Coverage and Deliverables
The “Aviation Test Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type ; Aircraft Type ; End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.