October 15, 2019
According to the latest study titled ‘Global Aviation Test Equipment Market Insights, Forecast to 2025’ available with Market Study Report LLC, the global aviation test equipment market is estimated to exceed US $7096 million by the year 2025.
The aviation test equipment is essentially used to inspect and resolve electrical and mechanical issues, repair brakes, and evaluate performance among other parameters during the aircraft production. It is also used to ensure safety in the process of maintenance. Developments in the field of aviation, growing consumer inclination towards air travel, rising disposable income are some of the factors propelling the aviation test equipment market. However, the market is majorly driven by the need to ensure personnel safety, coupled with strict aviation and safety regulations.
According to the study, the aviation test equipment market was valued at US $5578 million in 2018 and is expected to register a growth rate of 3.4% over the predicted time period. The study analyzes global aviation test equipment market for industry shares and growth opportunities by different segments. Furthermore, it provides an exhaustive understanding of trends, challenges, marketing strategies, distribution channels, consumer spectrum, and drivers influencing the market growth.
Based on type, the market is segmented as engine testing equipment, electrical and electronic system test equipment, body testing equipment, and others, wherein the electrical & electronic system test equipment segment held 44% share in 2019.
Speaking of application spectrum, the aviation test equipment market is fragmented as military aviation, commercial aviation, and general aviation, wherein the respective segmental contributions were 30%, 60%, and 7.2% share in 2019.
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Considering the geographical landscape, the industry is fragmented into five main regions. Central & South America consists of Brazil; Germany, Russia, UK, France, and Italy combines to form Europe; Asia Pacific comprises of India, Australia, Indonesia, China, Vietnam, Japan, Philippines, South Korea, Malaysia, and Thailand; North America is composed of Canada, Mexico, and US; and Egypt, GCC countries, Turkey, and South Africa fall under Middle East & Africa.
The key contenders of aviation test equipment market outlined in the report comprise of Keysight Technologies, Lockheed Martin, GE, BAE Systems, Honeywell, Safran, National Instruments, Teradyne, SPHEREA, Moog, Bauer, TEST-FUCHS GmbH, and Viavi.