PUBLISHER: The Business Research Company | PRODUCT CODE: 1465644
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465644
An aerospace tester refers to specialized equipment or systems utilized within the aerospace industry to conduct a wide array of tests and assessments on aircraft components, systems, or entire aircraft. These testers are crucial for evaluating the performance, reliability, durability, and functionality of aircraft equipment under various conditions, including temperature extremes, vibration, pressure, and electromagnetic interference.
The primary types of aerospace tester products include avionics testers, communication testers, structural testers, and propulsion system testers. Avionics testers are specifically designed devices or systems used to verify, test, and diagnose the functionality of avionics equipment. They find application across various functions such as flight control system testing, communication system testing, engine testing, structural testing, and environmental testing. These testers cater to diverse end-users including commercial aviation, defense and military, as well as space and satellite industries.
The aerospace tester market research report is one of a series of new reports from The Business Research Company that provides aerospace tester market statistics, including aerospace tester industry global market size, regional shares, competitors with aerospace tester market share, detailed aerospace tester market segments, market trends, and opportunities, and any further data you may need to thrive in the aerospace tester industry. This aerospace tester market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The aerospace tester market size has grown strongly in recent years. It will grow from $23.84 billion in 2023 to $25.10 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth observed during the historical period can be attributed to several factors, including heightened safety concerns, the increasing complexity of aerospace systems, the globalization of aerospace supply chains, and the rise in military modernization programs.
The aerospace tester market size is expected to see steady growth in the next few years. It will grow to $29.56 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The projected growth in the forecast period can be attributed to several key factors, including the increasing number of aircraft, rising demand for advanced aircraft technologies, a growing emphasis on safety and regulatory compliance, the proliferation of automation and artificial intelligence in aerospace systems, and heightened focus on cybersecurity measures. Major trends anticipated during this period include continuous product innovations, technological advancements, a shift towards additive manufacturing processes, digitalization initiatives, and the integration of artificial intelligence across aerospace operations.
The burgeoning expansion of the commercial space industry is poised to drive the growth of the aerospace tester market in the foreseeable future. The commercial space industry encompasses economic activities related to the manufacturing and delivery of components deployed into Earth's orbit or beyond, as well as the provision of services derived from these components. This sector is experiencing rapid growth fueled by various factors, including the increasing demand for satellite services, burgeoning space tourism, asteroid mining endeavors, and escalating private investments. Aerospace testers play a crucial role in this ecosystem, conducting rigorous testing and validation procedures to ensure that spacecraft, satellites, propulsion systems, avionics, and other aerospace technologies meet stringent quality standards and regulatory requirements before deployment for commercial space missions. For instance, data from the UK Space Agency indicates significant growth in the total income of the UK space industry, reaching $22.09 billion in real terms in 2020-21, with a notable increase in the number of organizations operating in this sector. Consequently, the expansion of the commercial space industry emerges as a key driver propelling the growth trajectory of the aerospace tester market.
Prominent entities within the aerospace tester market are focusing on innovating new technological products to bolster their profitability and market presence. One such innovation is the next-generation Rotor Analysis Diagnostic System (RADS), a portable vibration diagnostics solution aimed at streamlining rotor track and balance operations and diagnostics for aerospace operators. For instance, GE Aerospace, a US-based aerospace company, launched the next-generation RADS in March 2023, designed to enhance operational efficiency by reducing pilot time and saving fuel through more efficient rotor track and balance analysis. This system targets both military and commercial helicopter applications, offering a faster, user-friendly interface and flexibility to service various helicopter models, including fixed-wing aircraft such as the Lockheed C-130 Hercules.
In February 2024, BAE Systems, a leading aerospace company headquartered in the UK, completed the acquisition of Ball Aerospace for $5.5 billion. This strategic move is poised to substantially expand BAE Systems' presence in the critical space domain, reinforcing its commitment to innovation and growth. Moreover, the acquisition aligns with BAE Systems' value-compounding strategy, aiming to drive top-line growth, enhance margins, and generate significant cash flow. Ball Aerospace, a renowned manufacturer of aerospace testers based in the United States, brings valuable expertise and capabilities to BAE Systems' comprehensive portfolio of aerospace solutions.
Major companies operating in the aerospace tester market are Boeing Company, Lockheed Martin Corporation, Airbus Group, General Electric Co., Northrop Grumman Corporation, BAE Systems Plc, L3Harris Technologies Inc., Illinois Tool Works Inc., Textron Inc., Leonardo S.p.A., Agilent Technologies, Bureau Veritas SA, Keysight Technologies Inc., DEKRA SE, Intertek Group Plc, Teradyne Inc., MOOG INC., Rohde & Schwaz GmbH &Co. KG, Element Materials Technology, National Insruments Corporation, Mistras Group Inc, Astronics Corporation, Qualitest International Inc., Dayton T. Brown Inc., Marvin Test Solutions Inc., ADMET Inc., Ball Corp., NTS Group BV, CapitalWorks, ECA Group
Asia-Pacific was the largest region in the aerospace tester market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the aerospace tester market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the aerospace tester market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The aerospace tester market consists of sales of engine test stands, non-destructive testing (NDT) equipment, electrical testers, environmental test chambers, and others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Aerospace Tester Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aerospace tester market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aerospace tester ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The aerospace tester market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.