Aviation Test Equipment Global Market Report 2023

Oct 29, 2023

Major players in the aviation test equipment market are Rolls Royce Holdings LLC, Honeywell International Inc., Rockwell Collins, Airbus Group, Boeing Co., Teradyne Inc., 3M, Testek Solutions, Moog Inc.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aviation Test Equipment Global Market Report 2023" - https://www.reportlinker.com/p06479825/?utm_source=GNW , SPHEREA Test & Services SAS, Lockheed Martin Corporation, General Electric Company, Avtron Aerospace, GE Aviation, DAC International, Ideal Aerosmith Inc., DMA-Aero, ATEQ Aviation, and Viavi Solutions Inc.The global aviation test equipment market 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 aviation test equipment market is expected to reach $9.84 billion in 2027 at a CAGR of 4.5%.The aviation test equipment market consists of sales of air data test sets, altimeter test sets, altitude encoders or testers, antenna analyzers, and automated test sets.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.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.Asia-Pacific was the largest region in the aviation test equipment market in 2022.Asia-Pacific is expected to be the fastest-growing region in 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 and Africa.The main product types of aviation test equipment are electrical or electronic test equipment, hydraulic test equipment, pneumatic test equipment, power test equipment, and others.Hydrostatic test equipment refers to a standard testing method to ensure that pressure pipes are not defective or leaking.The various aircraft types include manned, and unmanned. These are used by various end-users such as the commercial sector, defense, or military sector, and other end-users.An increase in air passenger traffic is expected to propel the growth of the aviation test equipment market going forward.Air passenger traffic refers to the volume of air passengers commuting; it comprises both domestic and international flight passengers of air carriers registered in the country.Aviation test equipment helps aircraft in verifying production quality, and identifying systemic issues, and thus supports the increasing air travel. For instance, according to the data published by the Airport Council International (ACI), a Canada-based organization for airport authorities, in 2021, the world’s airports hosted 4.6 billion passengers, up 28.3% from 2020, while aviation freight volumes grew 15.4% year on year, reaching a record 125 million metric tons. Therefore, the increase in air passenger traffic drives the aviation test equipment market.Technological advancements are a key trend gaining popularity in the aviation test equipment market.Companies operating in the aviation test equipment market are adopting new technologies to sustain their position in the market.For instance, Airbus, a France-based aerospace company and CMF International, a France-based aerospace company launched a technology named "Flight Test Demonstrator". As a component of CFM’s Revolutionary Innovation for Sustainable Engine (RISE) demonstration program, the Flight Test Demonstrator intends to advance and quicken the development of innovative propulsion technologies on board an Airbus A380.In April 2021, Raptor Scientific, a US-based manufacturer of air data test technology, and radar cross-section measurement instruments acquired TestVonics Inc. for an undisclosed amount. With this acquisition, Raptor further strengthens the existing customer relationships by allowing customers to work with one supplier for a number of test and measurement products and services. TestVonics Inc. is a US-based company that designs and develops the highest precision air data test systems and laboratory calibrators used in both commercial and military environments.The countries covered in the aviation test equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.The aviation test equipment market research report is one of a series of new reports that provides aviation test equipment market statistics, including aviation test equipment industry global market size, regional shares, competitors with an aviation test equipment market share, detailed aviation test equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the aviation test equipment industry. This aviation test equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479825/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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