Sarasota, FL, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Aviation Test Equipment (Electric Systems, Hydraulic Systems and Pneumatic Systems) Market for Commercial and Military Aviation: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021.” According to the report, global demand for aviation test equipment market was valued at USD 5,631 million in 2015, and is expected to generate revenue of USD 7,254 million by end of 2021, growing at a CAGR of slightly above 3.7% between 2016 and 2021.
Aviation test equipments are used by manufacturers of various components designed for aviation products and services. Aviation can be divided into military aviation, air transport, and general aviation. Aviation test equipments are used in aircraft, artificial satellites, and spacecraft. Advancement in testing technology helps to support the needs of commercial and military aircraft manufacturers globally. Aviation is the practical aspect of aeronautics, which includes design, production, development, operation of aircraft, particularly heavier than air aircraft.
Browse 13 Market Tables and 22 Figures spread through 110 Pages and an in-depth TOC on "Aviation Test Equipment Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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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 expected to fuel the aviation test equipment market in the near future. However, sustainment of legacy platforms may pose challenge to the market growth in the near future. Several test developers in the test equipment market are greatly challenged by the rising demand for advanced calibrated equipment and avionics systems.
North America regional market is by far the largest in the global aviation test equipment, and is set to continue to dominate the world marketplace over the forecast period. Aviation test equipment market in this region is mainly driven by the rising trend towards software-adaptable solutions, DIRCM & Digital RF, testing with advanced capabilities, and multiuse test systems. U.S. is the leading market in North Americas and merger of major airlines in the U.S. has made the airline industry in this region the most advantageous in the global market. These airlines are also investing in greater actuation and test equipment systems to improve their flight safety and operations. This is further expected to support the demand for aviation test equipment market in this region. In 2014, the U.S. aerospace and defense industry faced multiple challenges largely by the effects of sequestration and shrinking defense budgets. The severe domestic budgetary climate forced industry urgently to seek new markets.
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Asia Pacific is expected to be the fastest regional segment for the aviation test equipments within the forecast period. Asia Pacific is promising region in the long-haul international market, and it heavily relies on small and medium wide body aircrafts. The market in China is promising and with high demand for new technology for testing methods.
North America followed Europe is expected to show moderate growth during the forecast period due to technological advancement and expertise than the developing regions. European airlines are expected to deliver performance improvements in 2016. Lower fuel costs, strong performance on business travel on North Atlantic routes and faster than expected recovery of the European economy is benefitting the region.
Latin America and Middle East & Africa are expected to show the moderate growth in the next few years. Aircraft flight testing equipment manufacturers are moving toward developing countries such India, Mexico, Brazil, Libya, Egypt and Morocco. Middle East airlines declared the strongest passenger growth globally in the latest data provided by the global aviation industry body. Traffic for Middle East carriers jumped 11.7% in 2015 according to International Air Transport Association (Iata). This growth in the aviation industry is expected to impel the demand for more aircrafts thereby increasing the growth of aviation test equipment market.
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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.
The report segments the global aviation test equipment market as:
Aviation Test Equipment Market: System Segment Analysis
- Electric Systems Test Equipment
- Hydraulic Systems Test Equipment
- Pneumatic Systems Test Equipment
Aviation Test Equipment Market: Product Segment Analysis
- Commercial Aviation Test Equipment
- Military Aviation Test Equipment
Aviation Test Equipment Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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