Dublin, Sept. 24, 2019 (GLOBE NEWSWIRE) -- The "Aviation Test Equipment Market to 2027 - Global Analysis and Forecasts by Product Type; Aircraft Type; End User" report has been added to ResearchAndMarkets.com's offering.
The global aviation test equipment market accounted for US$ 5.38 Bn in 2018 and is expected to grow at a CAGR of 4.1% over the forecast period 2019-2027, to account for US$ 7.69 Bn by 2027.
The operational tempo of the global commercial aviation sector continues to soar in recent years. The global aviation test equipment market is led by North America region due to rising aircraft manufacturers and component manufacturers.
The global aviation sector is witnessing a huge demand for modern aircraft in the both commercial and military sector. Attributing to the fact that the disposable income in the developing countries is increasing substantially, the need for air travel is also increasing at the same pace.
On a global scenario, commercial air traffic is foreseen to maintain constant growth over the period, despite various challenges faced by commercial airlines. However, the challenges are succeeded by the rise in passenger numbers across the globe. The low-cost carriers (LCC) in the developed economies as well as developing economies are turning the revolution by offering low fare business models which are increasing the demand for air travel among the upper-middle class and middle-class society of developing nations.
The aircraft industry builds aircraft and manufactures aircraft parts, in turn, supports aviation in their maintenance. Boeing, Airbus, Bombardier, Embraer, Beech Aircraft Corporation, and Cessna Aircraft Company are few of the major companies in aircraft manufacturing. For instance, in 2018, Airbus has exceeded its aircraft manufacturing and delivery targets by supplying 800 aircraft to various customers across the globe as compared to 718 commercial aircraft in 2017. Further, the company expects to deliver 880 to 890 aircraft in 2019.
Moreover, Boeing, the US-based aircraft manufacturer, also delivered over 800 commercial aircraft and anticipates to deliver around 895 to 905 commercial aircraft deliveries in 2019. The growth in production of the number of aircraft is attributed to the replacement of aging aircraft, specifically in North America. Most of the replacement of the aging fleet of commercial aircraft is due to the revenue requirements of the operating airlines and operating efficiency. Moreover, new regulations, airspace modernizations, and emerging environmental concerns have also contributed to the retirement of older jets. Such factors are anticipated to bolster the demand for aviation test equipment market.
The global aviation test equipment market is segmented based on product type, aircraft type, and end-user. Based on the product type, the aviation test equipment market is segmented into electrical test equipment, hydraulic test equipment, power test equipment, and pneumatic test equipment. Based on aircraft type, the aviation test equipment market is bifurcated into the manned and unmanned. Based on end-user, the aviation test equipment market is bifurcated into commercial and military. Geographically, the aviation test equipment market is fragmented into five regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
The well-established market players operating in the aviation test equipment market are Avtron Aerospace, Inc., BAE Systems, Bauer Inc., ECA Group, Hydraulics International Inc., Lockheed Martin Corporation, Astronics Corporation, Teradyne Inc., Testek Inc., and TEST-FUCHS GmbH.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Aviation Test Equipment Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers:
4.3.1.1 Aerospace Manufacturing Sector is Consistently Growing
4.3.2 Bargaining Power of Suppliers:
4.3.2.1 Supplier Concentration is Moderately Growing
4.3.3 Threats to Substitutes:
4.3.3.1 No Substitutes in the Present Scenario
4.3.4 Threats of New Entrants:
4.3.4.1 Low CAPEX Facilitates New Players to Enter the Market
4.3.5 Competitive Rivalry:
4.3.5.1 Several Smaller Players along with Aerospace Industry Recognized Players Operate in the Market
5. Aviation Test Equipment Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Significant Rise in Demand for Aircraft Deliveries Resulting in Increased Commercial Aircraft Production
5.1.2 High Adoption of Unmanned Aircraft by Military
5.2 Key Market Restraints
5.2.1 Cost and Complexity of Aviation Test Equipment
5.3 Key Market Opportunities
5.3.1 High Air Passenger Growth in Developing Economies
5.4 Future Trends
5.4.1 Disruptive Approaches to Aviation Test Equipment
5.5 Impact Analysis of Drivers and Restraints
6. Aviation Test Equipment Market - Global Market Analysis
6.1 Global Aviation Test Equipment Market Overview
6.2 Global Aviation Test Equipment Market Forecast and Analysis
6.3 Market Positioning - 2018
7. Aviation Test Equipment Market Revenue And Forecasts To 2027 - Product Type
7.1 Overview
7.2 Global Aviation Test Equipment Market Breakdown, By Product Type, 2018 & 2027
7.3 Electrical Test Equipment
7.4 Hydraulic Test Equipment
7.5 Engine Test Equipment
7.6 Pneumatic Test Equipment
8. Aviation Test Equipment Market Revenue And Forecasts To 2027 - Aircraft Type
8.1 Overview
8.2 Global Aviation Test Equipment Market Breakdown, By Aircraft Type, 2018 & 2027
8.3 Manned Aircraft
8.4 Unmanned Aircraft
9. Aviation Test Equipment Market Revenue And Forecasts To 2027 - End-user
9.1 Overview
9.2 Global Aviation Test Equipment Market Breakdown, By End-user, 2018 & 2027
9.3 Commercial
9.4 Military
10. Aviation Test Equipment Market - Geographical Analysis
10.1 Overview
10.2 North America Aviation Test Equipment Market Revenue and Forecasts to 2027
10.3 Europe Aviation Test Equipment Market Revenue and Forecasts to 2027
10.4 Asia Pacific Aviation Test Equipment Market Revenue and Forecasts to 2027
10.5 Middle East & Africa Aviation Test Equipment Market Revenue and Forecasts To 2027
10.6 South America Aviation Test Equipment Market Revenue and Forecasts To 2027
11. Industry Landscape
11.1 Market Initiatives
11.2 Mergers and Acquisitions
11.3 New Developments
12. Aviation Test Equipment Market - Company Profiles
12.1 Astronics Corporation
12.2 Avtron Aerospace Inc.
12.3 BAE Systems PLC
12.4 Bauer Inc.
12.5 ECA Group
12.6 Hydraulics International Inc.
12.7 Lockheed Martin Corporation
12.8 Teradyne Inc.
12.9 Testek Inc.
12.10 TEST-FUCHS GmbH
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