Aerospace Testing Inspection and Certification Market Scope
The companies provide a comprehensive range of destructive and non-destructive testing services for a wide variety of materials, components, products and systems to the Aerospace and their supply chain partners, to help them to develop better products, get them to market on time, save time and money, and to minimize the risk to their business through their materials and product development activities. Rising product recalls worldwide, the implementation of stringent government rules and standards across various sectors, rising consumer demand in emerging markets, and an increase in global counterfeiting and piracy activities are all driving the aerospace testing, inspection, and certification market forward. One of the main factors driving the growth of the aerospace testing inspection and certification market is the adoption of advanced technologies in aerospace. Another factor expected to boost the growth of the aerospace testing inspection and certification market is the adoption of life sciences manufacturing operations.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | SGS (Switzerland), Bureau Veritas (France), Intertek (United Kingdom), Applus+ (Spain), Element (United Kingdom), ALS (Australia), TUV SUD (Germany), DNV GL (Norway), TUV Rheinland (Germany) and Mistras Group (United States) |
CAGR | % |
Aerospace Testing Inspection and Certification market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that European Manufacturers will contribute to the maximum growth of Global Aerospace Testing Inspection and Certification market throughout the predicted period.
SGS (Switzerland), Bureau Veritas (France), Intertek (United Kingdom), Applus+ (Spain), Element (United Kingdom), ALS (Australia), TUV SUD (Germany), DNV GL (Norway), TUV Rheinland (Germany) and Mistras Group (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aerospace Testing Inspection and Certification market by Type , by Application (Commercial Aircraft, Business Jet, Helicopter and Military Aircraft) and Region with country level break-up.
On the basis of geography, the market of Aerospace Testing Inspection and Certification has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In September 2022, Element Materials Technology (Element), a global leader in testing, inspection, and certification (TIC) services, has completed its acquisition of National Technical Systems (NTS) and received all necessary regulatory approvals. Element Materials Technology Acquires National Technical Systems.The acquisition of NTS will further enhance Element’s capability to be a partner throughout the product lifecycle for its customers
May 2020 - Intertek announced that Intertek Medical Notified Body AB (IMNB) was designated against MDR 2017/745 by the Swedish Competent Authority. This designation may help the company to better penetrate its service and solutions in the European region.
Influencing Trend:
Adoption of Advanced Technologies in Aerospace Manufacturing Operations
Market Growth Drivers:
Rising Product Safety and Quality Concerns across the Globe and Growing Demand of Certified Products for Aircraft in Compliance with Standard Legislation
Challenges:
Not easy to interpret
Restraints:
High Cost of TIC Services
Opportunities:
Emerging Small and Medium Sized Companies in Aerospace industry
Key Target Audience
Aerospace Testing Service Providers, Aerospace Industry, Regulatory Bodies, Governmental Bodies and Others