Aerospace Testing Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Testing Method (Destructive, Non-Destructive, Ultrasonic, Acoustic, Radiographic, Others), By Aircraft Size (Small, Medium, Large), By Sourcing (In-House Testing, Outsource Testing), And By Geography – Forecast From 2019 To 2024
- Published : May 2020
- Report Code : KSI061612833
- Pages : 108
The aerospace testing market was valued at US$23.470 billion in 2018 and is expected to grow at a CAGR of 0.09% during the forecast period to reach a total market size of US$23.591 billion in 2024. An increasing number of aircraft deliveries owing to the growing global travel and tourism industry is one of the major drivers of the aerospace testing market. Stringent aviation regulations regarding aircraft safety across different countries are further boosting the demand for aerospace testing service, thus positively impacting the growth of the aerospace testing market. Technological advancements in aircraft testing such as magnetic optic imagers and 3D scanning will further bolster the growth of the aerospace testing market during the next five years.
DRIVERS
Growing global travel and tourism industry
Stringent aviation regulations
OPPORTUNITIES
Technological advancements
INDUSTRY UPDATES
In August 2019, Element announced the expansion of its bleed air testing capabilities and capacity at its Jupiter, Florida laboratory.
In June 2019, TDM Aerospace signed a partnership agreement with SGS for certification and testing services.
The major players profiled in the Aerospace Testing market include NTS, Element Materials Technology, Intertek Group plc, Aerospace Testing Lab, Inc., AeroTEC, Honeywell International Inc., Lockheed Martin Corporation, MTS Systems Corporation, SGS SA, MISTRAS Group, Inc., and TESTIA.
Aerospace Testing Market Scope:
Report Metric | Details |
Market size value in 2018 | US$23.470 billion |
Market size value in 2024 | US$23.591 billion |
Growth Rate | CAGR of 0.09% from 2018 to 2024 |
Base year | 2018 |
Forecast period | 2019–2024 |
Forecast Unit (Value) | USD Billion |
Segments covered | Testing Method, Aircraft Type, Sourcing, And Geography |
Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies covered | NTS, Element Materials Technology, Intertek Group plc, Aerospace Testing Lab, Inc., AeroTEC, Honeywell International Inc., Lockheed Martin Corporation, MTS Systems Corporation, SGS SA, MISTRAS Group, Inc., TESTIA |
Customization scope | Free report customization with purchase |
Segmentation
The aerospace testing market has been analyzed through the following segments:
- By Testing Method
- Destructive Testing
- Non-Destructive Testing
- Ultrasonic Testing
- Acoustic Testing
- Radiographic Testing
- Others
- By Aircraft Type
- Commercial
- Business
- Military
- By Sourcing
- In-House Testing
- Outsource Testing
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- UK
- Spain
- Others
- Middle East and Africa
- Israel
- Saudi Arabia
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Others
- North America
Frequently Asked Questions (FAQs)
NTS
Element Materials Technology
Intertek Group plc
Aerospace Testing Lab, Inc.
AeroTEC
Honeywell International Inc.
Lockheed Martin Corporation
MTS Systems Corporation
SGS SA
MISTRAS Group, Inc.
TESTIA
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