Global Aerospace Industry Test Bench Market Expected to Reach USD 279.7 Million by 2027

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Global Aerospace Ind

iCrowdNewswire   Jan 18, 2021  7:00 AM ET

Global Aerospace Industry Test Bench Market Key Takeaways-min

According to recent market study published by Growth Market Reports (GMR), titled, “Global Aerospace Industry Test Bench Market by Types, Applications, End-users, Sales Channels and Region: Size, Share, Trends and Opportunity Analysis, 2019-2027”, the market was valued at USD 232.9 Million in 2019 and is expected to grow at a moderate growth rate of 3.9% by the year 2027. Aerospace industry test bench is a device used to verify the correctness or soundness of a design or model. The bench includes a complete system in which the product under development is tested with the aid of software and hardware tools. Software, being a part of the instrumentation system, can be checked on the test bench and data processing of the project can be checked with the help of a recorder or aircraft TM transmitter. Multiple test benches are used for testing captive parts, including the flaps, hydraulic pump, motor and power transfer unit, engines, brake packages, communications, fuels, data buses, flight control, sensors, transducers, and other parts of the aircraft.

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The global aerospace industry test bench market is fragmented on the basis of types, applications, end-users, sales channels and regions. On the basis of types, the market is categorized as hydraulic test benches, mechanical test benches, fuel test system and iron bird. On the basis of applications segment, the market is categorized as aircraft and helicopter. On the basis of End-users segment, the market is classified as military and civil. On the basis of Sales Channels, the market is categorized as OEM (aircraft and helicopters manufacturers) and aircraft & helicopters components manufacturers. Based on regions, the global aerospace industry test bench market is divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as US, and Canada. Latin America region is further segmented into Mexico, Brazil, and Rest of Latin America, Asia Pacific is further segmented into, India, Australia, South East Asia (SEA), Japan, South Korea, China, and Rest of Asia Pacific. The Europe region is further categorized into U.K., Russia, France, Germany, Italy, Spain, and Rest of Europe, and the MEA region is further divided into UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa (MEA).

In year 2020, the Aerospace Industry Test Bench market is expected to witness a significant decline in revenue in 2020 due to the adverse impact of COVID 19 pandemic on aerospace industry and supply chain of test benches industry. The revenue of the aerospace industry is expected to decline in 2020, as compared to that in 2019, due to COVID-19 impact. Increasing concern for corona virus spread has reduced the number of passengers, and thus has reduced the number of flights across the globe. The aerospace industry witnessed a decline in its revenue and had approximately 2.9 million of air passengers in 2020 as compared to 2019. However, the aerospace industry test bench market is expected to witness a moderate growth in the fourth quadrants of the year 2020. Also, improvement in the supply chain and logistics of medicines across the word is expected to positively support growth of the Aerospace Industry Test Bench market in near future.

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As per GMR industry analyst Akshay Udavant, The global Aerospace Industry Test Bench Market is anticipated to witness moderate growth during near future 2020-2027 driven by driven by factors such as increasing government spending on testing military aircrafts & helicopters and rising air traffic across the globe. Moreover, the intensification in avionics manufacturing and development activities has boosted the demand for test benches in the aerospace industry.

 Key Takeaways from the Study:

  • North America holds a significant share of the global aerospace industry test bench market due to the presence of a prominent aerospace industry in the region. Moreover, key players focus on technological advancements in the aerospace industry test bench techniques, which are driving the market in the region. High number of civil and military aircrafts are being used in the region, which is surging the need for testing, thus fuelling the market in North America. Moreover, entrance of new players in North America is expected to create opportunities in the market in North America.
  • Asia Pacific is expected to be lucrative region for the aerospace industry test bench market owing to the presence of significant number of OEM companies. Growing scientific base and research capabilities in several regions and expansion of the aerospace industry are driving the market in the region. The market in China is projected to expand at significant CAGR over the near future owing to increasing technological advancement in the country. In terms of value, the eye patches segment holds the significant share in the global Aerospace Industry Test Bench market
  • The civil segment is expected to hold the dominant share of the market due to the high need for the maintenance of civil airplanes on daily basis across the globe.
  • Rising R&D spending and increasing partnership between aerospace companies and original component manufacturers (OCMs) are expected to create opportunities in the OCM segment during the forecast period.
  • Key players from North America are penetrating in the Asia Pacific aerospace industry test bench market due to increasing demand of test benches used for testing of modern aircrafts.

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 2,32.90 Million

Market Growth Rate (from 2020 to 2027)

3.9%

Historical Data

2017, 2018

Base Year

2019

Near future

2020 – 2027

Units Considered

Value (USD Million)

Market Segments

By Types, By Applications, By End-users, By Sales Channels

Regional Scope

North America, Europe, Asia Pacific, Latin America and Middle East & Africa

Country Scope

US, Canada, Brazil, Mexico, and Rest of Latin America, India, China, Australia, Japan, South Korea, South East Asia (SEA), and Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, Saudi Arabia, South Africa, UAE, Rest of Middle East & Africa (MEA)

Key Companies Profiled

A&P Hydraulics, AERTEC Solutions, ATEC, INC., BAUER, INC., BCSA GEAR, CERTIA SAS, Chiarlone, Officine Srl, Deshons Hydraulique, ECA GROUP, Elimco Aerospace, Haskel, HYCOM (Hydac), Hydraulics International, Inc., Maximator GmbH, Nidec Industrial Solutions, PINETTE P.E.I., REDVIKING, RENK Aktiengesellschaft, SECA, SEREME, Staley Co, Test Industry S.r.l., TEST-FUCHS, Titan, Inc. and TMH-TOOLS

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Aerospace Industry Test Bench Manufacturers, Raw Material Suppliers, Primary Respondents, and Distributors.
  • Demand Side: Aircraft Manufacturers, Helicopter Manufacturers, Airports and others.
  • Regulatory Side: Concerned Government Authorities, Commercial Research & Development (R&D) Institutions, and Other Regulatory Bodies

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Associations and Industry Bodies:

  • World Bank Group
  • International Air Transport Association (IATA)
  • Airports Council International
  • Federal Aviation Administration
  • International Civil Aviation Organization
  • World Trade Organization
  • World Economic Outlook

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