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.
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.
- AeroTEC
- Applied Technical Services
- DEKRA CERTIFICATION B.V.
- Element Materials Technology
- Laboratory Testing Inc.
- NTS
- OPAL-RT TECHNOLOGIES, Inc.
- Phoenix, LLC
- T?V S?D
- VTEC Laboratories Inc.