Aviation Test Equipment Market size is set to grow at a substantial rate during 2022-2028 due to the rapid expansion of the aerospace & defense industry. The number of passengers traveling by air is increasing every year, which will ultimately augment the production of aircrafts.
According to the Bureau of Transportation Statistics (BTS), in September 2021, 62.9 million passengers in the U.S. used airplanes for their domestic and international travels. Out of this, 57.4 million were domestic while 5.5 million were foreign passengers. This figure shows an increase of 132% from the same month, previous year. It will further boost the production of aviation test equipment to fulfill the growing demand from aircraft manufacturers.
Aviation test equipment market has grown at a tremendous rate in recent years due to the rising incidence of air crashes. The risk of an air crash increases if any of the components have not been thoroughly tested by the aviation staff.
According to an article by Reuters, Dutch consulting firm, To70 reported that the fatalities in large commercial airplane crashes increased to 299 worldwide in 2020. These figures have put the spotlight on the significance of using aviation test equipment to figure out the smallest technical glitches in the aircraft systems.
Hydraulic aviation test equipment is likely to capture a sizeable share of the global aviation test equipment market by 2028. Hydraulic testing equipment are being widely demanded by end-users in the aviation sector as the instruments can analyze the behavior of various devices in real-time conditions by applying different types of hydraulic stresses. Some of them include mechanical resistance under high pressure, operation of equipment, behavior of devices when pressure is briefly increased, and resistance to hydraulic fatigue.
These tests allow manufacturers to get a prior idea of any technical or physical faults in the aircraft systems, which can eventually enhance the safety of the aircraft. Since hydraulic testing equipment are used to carry out tests in real-time, they offer aircraft makers a better view of the behavior of machines in natural conditions, which will favor their demand.
The global aviation test equipment market revenue from military applications will record a steady CAGR through 2028. Various advanced technologies are being introduced in the defense sector to enhance the performance of the armed forces and help them carry out high-end military operations.
It is imperative to have a highly accurate and comprehensive set of testing equipment to examine all the systems in a military aircraft. Since these airplanes carry a wide range of complex machines and weapons onboard, it becomes important to check the performance of all the systems to ensure the safe transport of these ammunitions, which will amplify the need for aviation test equipment.
North America aviation test equipment market trends were negatively affected in the first half of 2020. One of the major factors responsible for this was the onset of the COVID-19 pandemic across the region. Since lockdowns and several travel restrictions were imposed by the authorities, the aviation sector had to suffer from severe losses.
In fact, according to a press release by the International Air Transport Association (IATA), the full year traffic of the North American airlines fell by 75.4% as compared to 2019, whereas capacity and load factor dropped by 65.5% and 23.9 percentage points respectively.
Since there was a steep decline in the demand for air travel, the production of aviation test equipment also saw a sharp decrease during this period. However, the current situation is showcasing consistent improvement as the lockdowns and travel restrictions are being lifted and vaccination drives are being conducted in full swing, which will increase the production of aircrafts as well as aviation test equipment.
The aerospace sector was among the worst-affected by the COVID-19 pandemic as several regions had imposed stringent lockdowns and travel restrictions to contain the spread of the virus. As the demand for air travel saw a notable decrease and manufacturing plants were forced to temporarily shut down, it severely impacted the production of aircrafts.
This scenario caused acute losses to the manufacturers as the demand for their products reduced to a great extent. However, as the present situation is constantly improving, the demand for aircrafts and aviation test equipment market is expected to shoot up in the future.
Aviation test equipment have played a vital role in reducing the incidence of aircraft crashes across the world. Over the years, companies specializing in the production of these instruments have introduced several technological upgrades that have greatly improved their accuracy, precision, and performance. The use of aviation test equipment has extended to the defense sector as well, as the defense sector heavily relies on the accuracy of these machines before giving any airplane the final go-ahead.
Well-known companies, such as Rockwell Collins, Avtron Aerospace (CapitalWorks), Rolls Royce Holdings Plc, 3M, General Electric Aviation, Airbus, Testek, Lockheed Martin Corporation, and Boeing, among many others, are producing high-end aviation test equipment for their domestic and international clients.
They are also entering into partnerships and merger & acquisition deals with other organizations to strengthen their customer base and diversify their product & service portfolios. For example, in April 2021, MK Test Systems and ECA Group signed a partnership deal to launch a low voltage testing solution that can considerably speed up the aircraft assembly. The testing solution also aims to make testing safer and quicker for operators.