Manufacturing (shipments) in the aviation sector, particularly in the civil aircraft market, have seen significant increases in recent years. The Aviation Test Equipment Market is expected to grow at a CAGR of almost 4.25 percent between 2022 and 2028, from a revenue of about $7.10 (USD Billion) in 2021 to about $11.31 (USD Billion) in 2028. When paired with the rising need for maintenance of older aircrafts, this expansion should play a significant role in expanding the sales of aviation test equipment in the next years. 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 used in the aviation industry.
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 confronted with a difficulty in terms of market (revenue) volatility, which has an impact on the market for aviation test equipment.
There are significant growth opportunities for aviation test equipment market in Asia Pacific; especially China as there has been proliferation of aviation sector including both civil and defense aerospace in recent years in this region. North America and Europe form a major chunk of the demand for aviation test equipment owing to their advanced technical capability in aerospace. The Middle East and Latin American markets for aviation test equipment are also growing owing to need for enhanced capabilities for repair, maintenance, and overhaul services. Key players in this market include Honeywell International, Inc., Airbus SAS, The Boeing Company, Rockwell Collins, Inc., Avtron Aerospace, Inc., DAC International, Inc., Testek, Inc., Tesscorn Systems India Pvt. Ltd., General Electric Co., 3m Company, Moog, Inc., DMA-Aero, International Aero Engineering LLC, Rolls Royce Holdings Plc, and Teradyne, Inc., among others.
The aviation test equipment market is categorized based on the kind of system being tested, with electric systems test equipment, hydraulic systems test equipment, and pneumatic systems test equipment being the most common. When it comes to revenue, hydraulic systems test equipment was the most profitable category in 2015, accounting for more than 38.49 percent of the whole market. Another important source of revenue for the aviation test equipment industry was electric systems test equipment. The aviation industry is reinventing the energy systems on board airplanes, and it is reasonable to anticipate pneumatic and hydraulic power to be gradually replaced by electricity in the near future.
Commercial and military sectors are two of the many application categories of the aviation test equipment market to consider. In terms of revenue, commercial aviation test equipment was the most profitable section of the aviation test equipment market in 2015, accounting for more than 58.9 percent of the overall market.
On the basis of geography, the market is divided into four regions: North America, Europe, Asia-Pacific (including Japan), Latin America, and the Middle East and Africa. In 2015, North America accounted for more than 35.26 percent of the global market for aviation test equipment, gaining the bulk of the market share. The consolidation of major airlines in the United States has resulted in the airline business in this area becoming the most lucrative in the world. North America is the first to be reached, followed by Europe. During the forecasted period, Asia Pacific is expected to be the area with the quickest growth.