December 11, 2019
According to the latest study titled ‘Aviation Test Equipment Market to 2027 - Global Analysis and Forecasts by Product Type (Electrical Test Equipment, Hydraulic Test Equipment, Engine Test Equipment, Pneumatic Test Equipment); Aircraft Type (Manned, Unmanned); End User (Commercial, Military)’ available with Market Study Report LLC, the global aviation test equipment market is expected to accumulate USD 7.69 billion by the year 2027.
The growth of aviation test equipment market is propelled by factors such as increasing disposable income in developing countries, and the rising preference for air travel. Moreover, airspace modernizations, new regulations, and growing environmental concerns are compelling the aircraft companies to replace the ageing fleet for better operation efficiency, thereby augmenting industry outlook.
According to the study, aviation test equipment market was valued at USD 5.38 billion in 2018 and is anticipated to witness a growth rate of 4.1 % over the analysis period. The study encompasses details about market size based on revenue shares for each segment, alongside the expansion strategies adopted by manufacturers. Information about the market dynamics covering drivers and restraints is also outlined in the report.
Based on product type, aviation test equipment market is classified into pneumatic test equipment, hydraulic test equipment, electrical test equipment, and engine test equipment. While as per aircraft type, the industry is divided into the unmanned and manned. Speaking of end-user spectrum, the industry is split into military and commercial.
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Considering the geographical landscape, the industry is studied for regions of Europe, North America, APAC, Middle East & Africa, and South America. The report cites that North America aviation test equipment market held the dominant share in 2018, owing to the presence of numerous aircraft manufacturers and component manufacturers across the region.
Some of the vendors that operate in the global aviation test equipment market are BAE Systems, Avtron Aerospace, Inc., ECA Group, Bauer Inc., Lockheed Martin Corporation, Hydraulics International Inc., Teradyne Inc., Astronics Corporation, TEST-FUCHS GmbH, and Testek Inc.
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