SHERIDAN, WY, USA, August 9, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Aviation Test Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global aviation test equipment market size reached US$ 7.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2027, exhibiting a growth rate (CAGR) of 4.5% during 2022-2027.
Industry Overview and Application:
Aviation test equipment (ATE) refers to a range of instruments used to inspect, evaluate, calibrate, and test different elements and hydraulic systems of aircraft. They include tachometers, inertial instruments, indicators/generators, pressure, gyroscopes, and sensitive devices as standard test equipment. These devices are installed in airplanes to supervise and resolve electrical and mechanical issues, conduct performance checks, and repair brakes and other components. Additionally, ATE aids in isolating failures, improving reliability and safety, reducing life-cycle costs, advancing testability, and enabling real-time monitoring from the ground through telemetry transmitters.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The aviation test equipment industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the aviation test equipment market.
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Market Trends and Drivers:
The considerable growth in the aviation industry, the increasing air traffic, and the need for easy-to-install software-adaptable testing solutions to improve the overall mechanical performance of aircarfts are some factors primarily driving the market growth. The rising incidence of air crashes is further influencing product demand. Moreover, the escalating defense budget has prompted the integration of ATE in the armed forces to examine the functioning of multiple weapons and allow the execution of high-end military operations, which is impelling the aviation test equipment industry growth. Additionally, the large-scale integration of cloud computing, artificial intelligence (AI), and traffic collision avoidance systems (TCAS) with onboard surveillance mechanisms is acting as another growth-inducing factor. Besides this, the growing uptake of hydraulic testing to analyze the behavior of aircraft devices under real-world conditions is supporting the aviation test equipment market growth.
Aviation Test Equipment Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global aviation test equipment market has been studied in the report with the detailed profiles of the key players operating in the market.
Aviation Test Equipment Market key players include:
• Honeywell International Inc.
• General Electric Co.
• Rockwell Collins
• Moog Inc.
• Teradyne Inc.
• SPHEREA Test & Services
• Rolls Royce Holdings Plc
Global Aviation Test Equipment Market Segmentation:
The report has segmented the global aviation test equipment market on the basis of type, end-use sector and region.
Aviation Test Equipment Market by Type:
Aviation Test Equipment Market by End-Use Sector:
• Commercial Sector
• Defense/Military Sector
Aviation Test Equipment Market by Region:
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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