DALLAS, TX / ACCESSWIRE / February 22, 2021 / According to a new market report published by Lucintel, the future of the global aerospace testing market looks promising with opportunities in the commercial/regional aircraft, business jets, helicopters, and military aircraft. The global aerospace testing market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $5.3 billion by 2025 with a CAGR of 0.7% from 2020 to 2025. 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.
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In this market, non-destructive and destructive testing are used in commercial aircraft, business jets, helicopter, and military aircraft to ensure that the aircrafts meets the safety requirement as per regulatory standards. 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 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 increase in aircraft deliveries in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, include new advanced technologies for testing aircraft, such as introduction of thin film ultrasonic sensor, sweeper scanner for ultrasonic testing and introduction of advanced NDT inspection device. Airbus, Boeing, NTS, SGS, Mistras, Innertek, Exova, MTS, Cincinnati Sub-Zero and Dayton T Brown are among the major providers of aerospace testing.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global aerospace testing market by aircraft type, sourcing type, method type, component type and region and has come up with a comprehensive research report titled, "Growth Opportunities in the Global Aerospace Testing Market 2020-2025: Trends, Forecast, and Market Analysis." This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global aerospace testing market by aircraft type, sourcing type, testing method type, component, and region as follows:
By Method Type [$B Shipment analysis from 2014 to 2025]
• Non- Destructive Testing Method
- Ultrasonic Testing
- Fluorescent Testing
- Eddy current Testing
- Visual Testing
- Magnetic particle Testing
- Radiographic Testing
- Acoustic Testing
- Macro etching Testing
- Others
• Destructive Testing Method
- Dynamic Testing
- Static Testing
- Others
By Aircraft Type [$B Shipment analysis from 2014 to 2025]
• Commercial/Regional Aircraft
• Business Jets
• Helicopter
• Military Aircraft
By Sourcing Type [$B Shipment analysis from 2014 to 2025]
• In-House Testing
• Outsource Testing
By Component Type [$B Shipment analysis from 2014 to 2025]
• Airframe
• Engine
• Interior
By Region [$B Shipment analysis from 2014 to 2025]
• North America
• Europe
• Asia Pacific
• The Rest of the World
This 152-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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SOURCE: Lucintel