What Transformation Has the Aviation Test Equipment Market Undergone?
The aviation test equipment market has seen considerable growth due to a variety of factors.
•In recent years, the size of the aviation test equipment market has seen consistent growth. With a compound annual growth rate (CAGR) of 4.5%.
it is projected to expand from $8.46 billion in 2024 to $8.84 billion in 2025. The historic period witnessed this growth due to a variety of factors. These included enlargement of aircraft fleets, rigorous regulatory standards, emphasis on aircraft safety, aircraft upgrading initiatives, preventive maintenance procedures, and the internationalization of aircraft maintenance.
How Will The Aviation Test Equipment Market Size Evolve In The Foreseeable Future?
The aviation test equipment market is expected to maintain its strong growth trajectory in upcoming years.
• We anticipate a continuous expansion in the aviation test equipment market in the coming years, growing to a valuation of "$10.62 billion by 2029, with a steady compound annual growth rate (CAGR) of 4.7%.
The progression projected in this period can be tied to several factors such as the unveiling of new airplane models, the uptake of health monitoring systems, the transition to electric and hybrid aircraft, advancements in portable testing methodologies, and an escalating demand for commercial planes. Key trends for the forecast duration encompass progression in avionics technology, the embracing of the Internet of Things (IoT), advancements in simulation and training apparatus, portable and handheld testing approaches, and tests for electromagnetic compatibility (EMC).
Which Key Drivers Are Propelling The Aviation Test Equipment Market's Growth?
The aviation test equipment market is projected to flourish due to a predicted surge in air passenger traffic. Air passenger traffic, the metrics encompassing both national and international commuters of registered air carriers, plays a significant role in this growth projection. The role of aviation test equipment in ensuring production quality and spotlighting systemic faults in aircraft can't be underestimated, particularly as air travel continues to grow. For example, the Bureau of Transportation Statistics (BTS), a branch of the U.S. Department of Transportation (DOT), reported that U.S. airlines transported 89.7 million scheduled service passengers in June 2024. This signifies a 6.7% rise from the 84.0 million passengers conveyed in June 2023, according to data released in September 2024. Consequently, the augmenting air passenger traffic significantly fuels the growth of the aviation test equipment market.
What Are The Key Segments Within The Global Aviation Test Equipment Market?
The aviation test equipment market covered in this report 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
Subsegments:
1) By Electrical Or Electronic Test Equipment: Multimeters, Oscilloscopes, Circuit Testers, Signal Generators
2) By Hydraulic Test Equipment: Hydraulic Test Stands, Pressure Testers, Flow Meters, Leak Testers
3) By Pneumatic Test Equipment: Pneumatic Test Stands, Pressure Gauges, Flow Testers, Leak Detectors
4) By Power Test Equipment: Load Banks, Power Analyzers, Power Quality Testers, Transformer Test Sets
5) By Other Product Types: Fuel Test Equipment, Structural Test Equipment, Avionics Test Equipment, Environmental Test Chambers
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How Are New Trends Impacting The Size Of The Aviation Test Equipment Market?
There's an emerging trend in the aviation test equipment market fuelled by tech advancements. To maintain their market positions, industry players are embracing new technologies. In July 2022, as a case in point, two France-based aerospace companies, Airbus and CMF International, introduced a technology dubbed 'Flight Test Demonstrator.' This technology, part of the CFM's Revolutionary Innovation for Sustainable Engine (RISE) demonstration program, aims to boost and speed up the advancement of pioneering propulsion technologies, all incorporated into an Airbus A380.
Who Are the Key Players in the Aviation Test Equipment Market?
Major companies operating in the aviation test equipment market include:
• Rolls Royce Holdings LLC
• Honeywell International Inc.
• Rockwell Collins - RTX corporation
• Airbus SE
• Boeing Company
• Teradyne Inc.
• 3M Company
• Testek Inc.
• Moog Inc.
• SPHEREA Test & Services SAS
• Lockheed Martin Corporation
• General Electric Company
• Avtron Aerospace Inc.
• DAC International Inc.
• Ideal Aerosmith Inc.
• DMA-Aero
• ATEQ & Cobra Aviation LC
• Viavi Solutions Inc.
• Avionics Specialist Inc.
• AERO Specialties Inc.
• Barfield Inc.
• National Technical Systems Inc.
• Northrop Grumman Corporation
• Pacific Southwest Instruments
• Parker Hannifin Corporation
• CEF Industries LLC
• Ultra Electronics Holdings plc
• Doble Engineering Company
• EADS North America Defense Test & Services Inc.
• ECA Group
• Esterline Technologies Corporation
• Fluke Corporation
What are the Regional Insights into the Aviation Test Equipment Market?
Asia-Pacific was the largest region in the aviation test equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global aviation test equipment market during the forecast period. The regions covered in the aviation test equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
