Global Aviation Test Equipment Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
21 Jul, 2023
The global aviation test equipment market size is expected to grow from $7.86 billion in 2022 to $8.25 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global aviation test equipment market size is expected to reach $9.84 billion in 2027 at a CAGR of 4.5%.
Global Aviation Test Equipment Market Key Driver
Increased air passenger traffic is predicted to drive future growth in the aviation test equipment market. The amount of air passengers commuting is referred to as air passenger traffic; it includes both domestic and international flight passengers of air carriers registered in the country. Aviation test equipment assists aeroplanes in checking production quality and identifying systemic faults, hence supporting rising air travel demand.
Get a sample of the global aviation test equipment market reportGlobal Aviation Test Equipment Market Segments
The global aviation test equipment market is segmented:
1) By Product Type: Electrical Or Electronic Test Equipment, Hydraulic Test Equipment, Pneumatic Test Equipment, Power Test Equipment, Other Product Types
2) By Aircraft Type: Manned, Unmanned
3) By End-User: Commercial Sector, Defense Or Military Sector, Other End Users
4) By Geography: The regions covered in the aviation test equipment market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global aviation test equipment market.
Major Aviation Test Equipment Industry Players
Rolls Royce Holdings LLC, Honeywell International Inc., Rockwell Collins, Airbus Group, Boeing Co., Teradyne Inc., 3M, Testek Solutions, Moog Inc., SPHEREA Test & Services SAS, Lockheed Martin Corporation, General Electric Company, Avtron Aerospace, GE Aviation, DAC International, Ideal Aerosmith Inc., DMA-Aero, ATEQ Aviation, Viavi Solutions Inc.
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Aviation Test Equipment Market Overview
Aviation test equipment refers to the various tools used to maintain an aircraft's hydraulic and electrical systems. They are mostly employed in calibrating, inspecting, testing, and assessing various aviation equipment.
Aviation Test Equipment Global Market Report 2023 provides data on the global aviation test equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aviation test equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.