Aerospace Testing Market Size, Share, Trends and Growth Analysis 2029
Aerospace Testing Market by Material Testing, Environmental Testing, Structural/Component Testing, Avionics/Flight & Electronics Testing, Propulsion System Testing, In-house, Commercial, Military & Defence, Space Exploration - Global Forecast to 2029
(EMAILWIRE.COM, November 08, 2024 ) 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. Increasing air travel across the globe has increased the demand for aerospace testing due to stringent safety and regulatory requirements, technological advances in aerospace design, and an increased need for dependable aircraft performance. In order to ensure these innovative performances meet safety standards, aerospace manufacturers produce lighter and fuel-efficient materials combined with advanced digital technologies. Furthermore, current demands on sustainability and lifecycle management of aircraft components require large-scale testing. Increasing production levels of commercial and defense aircraft and maintenance needs have led to an increase in the demand for specialized test services that support durability, performance, and aerospace industry compliance.
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For aerospace testing market, rigorous global and regional regulations are largely laid down by bodies such as the Federal Aviation Administration (FAA), European Union Aviation Safety Agency (EASA) and the International Civil Aviation Organization (ICAO), which guide it in its regulatory and standards development. They define stringent standards of safety, reliability and environmental compliance which the aerospace component and materials must meet. In addition, standards that apply to particular industry, including those created by bodies such as the American Society for Testing and Materials (ASTM) and the International Organization for Standardization (ISO) outline how to test equipment and the procedures needed with regard to quality assurance.
In the aerospace market, the outsourced testing segment is growing at a very fast rate due to the substantial cost advantages, scalability, and expertise that the outsourced testing segment can provide. High capital investments in in-house testing infrastructure, equipment and regulatory compliance management make many companies opt for outsourcing to third party testing providers. In addition, outsourced service providers offer advanced technical capabilities and certifications. This makes it easier for the service provider to adopt new testing methods, such as cutting edge testing technology, and comply with the latest regulatory standards. Meanwhile, the growing complexity of aerospace components and the need for shorter production timelines lend themselves to an outsourced solution for companies to concentrate on more core operations using qualified testing services to both ensure product quality and safety.
The rise in the military and defense end-user segment of the aerospace testing market can be attributed to the large scale investments in advanced military aircraft, drones and unmanned aerial vehicles (UAVs) by the defense forces to improve operational capabilities while modernizing their fleets at the same time. The development of new technologies such as hypersonic and stealth aircraft, and more complex electronic warfare and communication systems, must undergo rigorous testing prior to being used in demanding combat conditions if the military wants to ensure the reliability of these technologies. Beyond geopolitical and national security considerations, demand for rigorous testing is also underpinned by the desire for sustainability and resilience. With governments continuing to strengthen defense capabilities, the demand for strong aerospace testing services is set to skyrocket.
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Key Market Players
With continued digitalization and advancements in automation and aerospace materials technology among other factors are contributing to the growth of key players in the aerospace testing market, some of the key players include Element Materials Technology, SGS SA, Intertek Group plc, Applus+,TÜV SÜD, TÜV Rheinland, TÜV NORD Group, Rohde & Schwarz, Eurofins Scientific, The Boeing Company, Airbus, MISTRAS Group, Lockheed Martin Corporation, Bureau Veritas, and DEKRA. As the industry continues to move towards lightweight composites and next generation propulsion systems, the specialized testing of new materials and technologies is expected to grow with that demand. Advancements in nondestructive testing, data analytics and remote monitoring are also driving the growth because they promote more efficient testing processes and predictive maintenance.
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MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=32924426
For aerospace testing market, rigorous global and regional regulations are largely laid down by bodies such as the Federal Aviation Administration (FAA), European Union Aviation Safety Agency (EASA) and the International Civil Aviation Organization (ICAO), which guide it in its regulatory and standards development. They define stringent standards of safety, reliability and environmental compliance which the aerospace component and materials must meet. In addition, standards that apply to particular industry, including those created by bodies such as the American Society for Testing and Materials (ASTM) and the International Organization for Standardization (ISO) outline how to test equipment and the procedures needed with regard to quality assurance.
In the aerospace market, the outsourced testing segment is growing at a very fast rate due to the substantial cost advantages, scalability, and expertise that the outsourced testing segment can provide. High capital investments in in-house testing infrastructure, equipment and regulatory compliance management make many companies opt for outsourcing to third party testing providers. In addition, outsourced service providers offer advanced technical capabilities and certifications. This makes it easier for the service provider to adopt new testing methods, such as cutting edge testing technology, and comply with the latest regulatory standards. Meanwhile, the growing complexity of aerospace components and the need for shorter production timelines lend themselves to an outsourced solution for companies to concentrate on more core operations using qualified testing services to both ensure product quality and safety.
The rise in the military and defense end-user segment of the aerospace testing market can be attributed to the large scale investments in advanced military aircraft, drones and unmanned aerial vehicles (UAVs) by the defense forces to improve operational capabilities while modernizing their fleets at the same time. The development of new technologies such as hypersonic and stealth aircraft, and more complex electronic warfare and communication systems, must undergo rigorous testing prior to being used in demanding combat conditions if the military wants to ensure the reliability of these technologies. Beyond geopolitical and national security considerations, demand for rigorous testing is also underpinned by the desire for sustainability and resilience. With governments continuing to strengthen defense capabilities, the demand for strong aerospace testing services is set to skyrocket.
Ask for Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=32924426
Key Market Players
With continued digitalization and advancements in automation and aerospace materials technology among other factors are contributing to the growth of key players in the aerospace testing market, some of the key players include Element Materials Technology, SGS SA, Intertek Group plc, Applus+,TÜV SÜD, TÜV Rheinland, TÜV NORD Group, Rohde & Schwarz, Eurofins Scientific, The Boeing Company, Airbus, MISTRAS Group, Lockheed Martin Corporation, Bureau Veritas, and DEKRA. As the industry continues to move towards lightweight composites and next generation propulsion systems, the specialized testing of new materials and technologies is expected to grow with that demand. Advancements in nondestructive testing, data analytics and remote monitoring are also driving the growth because they promote more efficient testing processes and predictive maintenance.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Mr. Rohan Salgarkar
Tel: 1-888-600-6441
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MarketsandMarkets™
Mr. Rohan Salgarkar
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results