DELRAY BEACH, Fla., Nov. 5, 2024 /PRNewswire/ -- The global Aerospace testing market was valued at USD 5.29 billion in 2024 and is projected to reach USD 6.68 billion by 2029; it is expected to register a CAGR of 4.8% during the forecast period according to a new report by MarketsandMarkets. Aviation technology advancements, such as lightweight composites, new avionics components, and autonomous and electric aircraft, are the primary drivers of aerospace testing market. As regulatory and safety standards grow, so does the need for intensive testing throughout all phases of product design and manufacture, as well as periodic maintenance, to validate reliability and safety. In addition, the growing frequency of aircraft maintenance, repair and overhaul (MRO) activities due to increasing international commercial and defense fleets aggravates the demand for testing services. Along with environmental concerns and meeting sustainability goals, manufacturers are developing fuel efficient, low emission systems and therefore testing services are necessary to meet industry standards and ensure safety in next generation aerospace systems.
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Browse in-depth TOC on "Aerospace Testing Market"
150 - Tables
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260 - Pages
Aerospace Testing Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 5.29 billion |
Estimated Value by 2029 | $ 6.68 billion |
Growth Rate | Poised to grow at a CAGR of 4.8% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Testing Type, Sourcing Type, End-user, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | The rapid advancement of aerospace technologies requires ongoing updates in testing methodologies and equipment |
Key Market Opportunities | The development of advanced aircraft technologies creates a growing need for specialized testing |
Key Market Drivers | Rising demand for commercial aircraft necessitates both initial and ongoing testing of new aircraft and their components |
Avionics/Flight & Electronics Testing services segment to account for the largest market share in the forecasted year.
Avionics/flight & electronic testing services are becoming more in demand with modern aeronautical electronics becoming more complex and more integrated into modern aircraft. As the technology of aerospace develops, so would similarly the technology of avionics systems become more sophisticated, and more dependent on a higher level of sophisticated technology (navigation, communication, flight control, safety features) which themselves are already subject to rigorous tests to meet high levels of safety, reliability and regulatory safety. Moreover, as other next generation technologies are being developed such as autonomous flight systems, electric propulsion, and advanced sensors, avionics and electronics testing will be even more crucial. Moreover, this segment requires specialized testing services because these systems must run reliably at different altitudes, temperatures, and emissions.
Commercial end-user accounted for the largest market share of in the forecasted year.
Commercial aviation takes the largest share of the aerospace testing market due to the need to test new aircraft models and the strict safety regulations that must be followed in order to maintain operational reliability. As air travel demand continues to rise around the globe, and these markets continue to grow, there is an ever-increasing demand for the testing and certification of commercial aircraft components and systems such as engines, avionics and the airframe structural integrity. Despite this, commercial aviation remains ahead as a result of high safety, efficiency, and regulatory standards requirements, making it the largest segment of the aerospace testing market.
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North America is expected to hold the largest share of the Aerospace testing market during the forecast period.
North America dominates the aerospace testing industry with state-of-the-art testing facilities and a strong presence of aerospace manufacturers and defense contractors. In particular, the U.S. hosts global leaders in companies such as Boeing, Lockheed Martin and Northrop Grumman which demand severe testing for commercial, military and space applications. Due to strong government support, large defense budgets, and stringent regulations in North America, aerospace testing thrives. The aerospace testing industry relies heavily on government funding for research and development. As a result, safety standards can be maintained, and innovation can flourish in the industry. Government regulations also mandate that all aerospace products meet strict safety and performance specifications, and in turn, the demand for testing aerospace products is extremely comprehensive.
Key Players-
The key companies that offer aerospace testing companies include Element Materials Technology (UK), SGS SA (Switzerland), Intertek Group plc (UK), Applus+ (Spain), TÜV SÜD (Germany), TÜV Rheinland (Germany), TÜV NORD Group (Germany), Rohde & Schwarz (Germany), Eurofins Scientific (Luxembourg), The Boeing Company (US), Airbus (Netherlands), MISTRAS Group (US), Lockheed Martin Corporation (US), Bureau Veritas (France), and DEKRA (Germany).
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