Global Aerospace Tester Market Report 2024, Forecast To 2033
17 Apr, 2024
The aerospace tester market has witnessed robust growth, ascending from $23.84 billion in 2023 to $25.10 billion in 2024, reflecting a CAGR of 5.3%. This upsurge is attributed to heightened safety concerns, the increasing complexity of aerospace systems, globalization of aerospace supply chains, and amplified military modernization programs. Looking ahead, the market is expected to sustain steady growth, reaching $29.56 billion in 2028, boasting a CAGR of 4.2%. Growth catalysts in the forecast period include the burgeoning number of aircraft, escalating demand for advanced aircraft, intensified focus on safety and regulations, the rise of automation and artificial intelligence, and a heightened emphasis on cybersecurity. Significant trends anticipated in the forecast period encompass product innovations, technological advancements, the shift towards additive manufacturing, digitalization, and the integration of artificial intelligence.
Global Aerospace Tester Market Key Driver
The expansion of the commercial space industry is expected to propel the growth of the aerospace tester market going forward. The commercial space industry refers to economic activities related to the manufacture and delivery of components that go into Earth's orbit or beyond, as well as the provision of services derived from those components. The commercial space industry is experiencing rapid growth due to several factors, including growing demand for satellite services, space tourism, asteroid mining, and increasing private investments in this sector. Aerospace testers are used to perform rigorous testing and validation methods to ensure that spacecraft, satellites, propulsion systems, avionics, and other aerospace technology fulfill demanding quality standards and regulatory requirements before being deployed for commercial space missions. For instance, in March 2023, according to the UK Space Agency, a UK-based government agency, total UK space industry income grew by 5.1% in real terms to $22.09 billion in 2020–21. The UK space industry has 1,590 organizations, with 29 new incorporations since last year. Therefore, the expansion of the commercial space industry is driving the growth of the aerospace tester market. The market size for aerospace testers showed promising figures in 2023 and is anticipated to further increase in 2024 and 2028.
Get A Free Sample Of The Global Aerospace Tester Market ReportGlobal Aerospace Tester Market Segments
The aerospace tester market covered in this report is segmented –
1) By Product Type: Avionics Testers, Communication Testers, Structural Testers, Propulsion System Testers
2) By Application: Flight Control System Testing, Communication System Testing, Engine Testing, Structural Testing, Environmental Testing
3) By End User: Commercial Aviation, Defense and Military, Space and Satellite
By Geography:The regions covered in the aerospace tester market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the aerospace tester market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the aerospace tester market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Aerospace Tester Market Industry Players
Boeing Company, Lockheed Martin Corporation, Airbus Group, General Electric Co., Northrop Grumman Corporation, BAE Systems Plc, L3Harris Technologies Inc., Illinois Tool Works Inc., Textron Inc., Leonardo S.p.A., Agilent Technologies, Bureau Veritas SA, Keysight Technologies Inc., DEKRA SE, Intertek Group Plc, Teradyne Inc., MOOG INC., Rohde & Schwaz GmbH &Co. KG, Element Materials Technology, National Instruments Corporation, Mistras Group Inc, Astronics Corporation, Qualitest International Inc., Dayton T. Brown Inc., Marvin Test Solutions Inc., ADMET Inc., Ball Corp., NTS Group BV, CapitalWorks, ECA Group
Get The Full Global Aerospace Tester Market ReportAerospace Tester Market Overview
An aerospace tester refers to a specialized piece of equipment or system used in the aerospace industry to conduct numerous tests and assessments on aircraft components, systems, or the complete aircraft. It is used to test aircraft equipment's performance, dependability, durability, and functionality in various situations, including temperature extremes, vibration, pressure, and electromagnetic interference.
Aerospace Tester Global Market Report 2023 provides data on the global aerospace tester market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aerospace tester market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.