The global aerospace testing market is expected to reach an estimated $5.4 billion by 2023 with a CAGR of 2.1% from 2018 to 2023
NEW YORK, Feb. 28, 2018 /PRNewswire/ -- The future of the global aerospace testing market looks promising with opportunities in the commercial aircraft, business jets, helicopters, and military aircraft. The global aerospace testing market is expected to reach an estimated $5.4 billion by 2023 with a CAGR of 2.1% from 2018 to 2023.
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The major growth drivers for this market are increasing aircraft deliveries, adoption of new materials in aircraft, and stringent aviation regulations & certification standards for the aircraft safety.
Emerging trends, which have a direct impact on the dynamics of the global aerospace testing industry, include new advanced technologies for testing aircraft such as 3D scanning and magnetic optic imagers.
The study includes the market size and forecast for the global aerospace testing market through 2023, segmented by aircraft type, sourcing type, testing method type, testing technique, component, and region as follows:
Global Aerospace Testing Market by Aircraft Type ($M shipment analysis from 2012 to 2023):
Commercial Aircraft
Business Jets
Helicopter
Military Aircraft
Global Aerospace Testing Market by Sourcing Type ($M shipment analysis from 2012 to 2023):
In-House Testing
Outsource Testing
Global Aerospace Testing Market by Testing Method Type ($M shipment analysis from 2012 to 2023):
Non- Destructive Testing
Destructive Testing
Global Aerospace Testing Market by Testing Technique ($M shipment analysis from 2012 to 2023):
Dynamic Testing
Material Testing
Climatic Testing
Acoustic Testing
EMC/EMI Testing
Global Aerospace Testing Market by Component Type ($M shipment analysis from 2012 to 2023):
Airframe
Engine
Interior
Global Aerospace Testing Market by Region ($M shipment analysis from 2012 to 2023):
North America
Europe
Asia Pacific
The Rest of the World
Some of the aerospace testing companies profiled in this report include Airbus, Boeing, Lockheed Martin, NTS, SGS, Mistras, Innertek, Exova, MTS, and Dayton T Brown and others.
Lucintel forecasts that commercial aircraft will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing aircraft deliveries.
Within the global aerospace testing market, in-house testing is expected to remain the largest segment by sourcing type, as it reduces cost and time for testing. Outsource testing is expected to witness the highest growth during the forecast period.
North America is expected to remain the largest region and witness the highest growth over the forecast period due to a significant increase in aircraft deliveries in this region.
Some of the features of "Aerospace Testing Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global aerospace testing market size estimation in terms of value ($M) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region.
Segmentation analysis: Global aerospace testing market size by various applications such as aircraft type, sourcing type, testing method type, testing technique, and component in terms of value and volume shipment.
Regional analysis: Global aerospace testing market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of aerospace testing in the global aerospace testing market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of aerospace testing in the global aerospace testing market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global aerospace testing market by aircraft type (commercial aircraft, business jet, helicopter, and military aircraft), by sourcing type (in-house testing and outsource testing), by testing method type (non-destructive testing and destructive testing), by testing technique (dynamic, material, climatic, acoustic, and EMC/EMI), by component type (airframe, engine, and interior), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in this aerospace testing market?
Q.5 What are the business risks and threats of this aerospace testing market?
Q.6 What are emerging trends in this aerospace testing market and reasons behind them?
Q.7 What are some of the changing demands of customers in the aerospace testing market?
Q.8 What are the new developments in the aerospace testing market? Which companies are leading these developments?
Q.9 Who are the major players in this aerospace testing market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competing products in this aerospace testing market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last 5 years in this aerospace testing market?
Read the full report: https://www.reportlinker.com/p05351004
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