Aviation Test Equipment Market Overview
Furthermore, with technological improvements, the aviation sector, particularly military aircrafts, has witnessed an increase in complicated systems, which has resulted in an increase in the demand for sophisticated test equipment. Electrical, hydraulic, pneumatic, and power test equipment are some of the several types of test equipment use in the aviation industry.
It is anticipated that the Aviation Test Equipment Market will increase at a compound annual growth rate (CAGR) of around 4.25 percent between 2022 and 2028, from a revenue of approximately $7.10 (USD Billion) in 2021 to approximately $11.31 (USD Billion) in 2028.
Air data test sets, pilot static adapters, transponder test sets, distance measurement equipment testing, and traffic collision avoidance system (TCAS) test sets are some of the testing instruments used in the aviation industry. Aside from tactical air navigation system (TACAN) testers and navigation/communication test sets, other essential aviation test equipment include radar test sets, altimeter test sets, GPS satellite simulators, battery testers, and engine test sets, to name a few. The aviation industry is confront with a difficulty in terms of market (revenue) volatility, which has an impact on the market for aviation test equipment.
There are enormous potential prospects in the aviation test equipment market in Asia Pacific, particularly in China, as a result of the rapid expansion of the aviation industry in this area, which includes both civil and defense aerospace, in recent years. Because of their strong technological capabilities in the aerospace industry, North America and Europe account for a significant portion of the market for aviation test equipment.
The aviation test equipment market is mainly driven by rising R&D activities of aviation test equipments, and growth in worldwide aerospace and defense industry. Rising demand from commercial aerospace and increasing use of software adaptable solution is expectes to fuel the aviation test equipment market in the near future. However, sustainment of legacy platforms may pose a challenge to the market growth in the near future. Several test developers in the test equipment market are greatly challenges by the rising demand for advanced calibrated equipment and avionics systems.
The aviation test equipment market is segmented on the basis of different types of system including electric systems test equipment, hydraulic systems test equipment, and pneumatic systems test equipment. In term of revenue, hydraulic systems test equipment was the largest segment in 2015 and accounted for over 38.49% share of the overall market in 2015. Electric systems test equipment was another key outlet for aviation test equipment market. The aviation industry is revolutionizing energy systems on board aircraft, which would expect to see pneumatic and hydraulic power slowly being replaces by electricity.
Various application segments of aviation test equipment market include commercial and military sectors. In terms of revenue, commercial aviation test equipment was leading segment in aviation test equipment market and accounted for over 58.9% market share of the total market in 2015.
This market is highly competitive where players are competing on the basis of cost, reliability, product quality, and aftermarket service. Some of the key players in aviation test equipment market include Boeing, Honeywell International, Inc., Moog Inc., SPHEREA Test & Services (SPHEREA), Rockwell Collins, Airbus, and Teradyne Inc.
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