North American Aviation Test Equipment Market Worth $1.10 Billion by 2020 - New Report by MicroMarket Monitor
(PRWEB) June 06, 2014 -- Emerging and developing economies are the main drivers of growth in the aviation test equipment market globally. Increasing aerospace activity in these countries is contributing to the rising demand for test equipment, particularly in the civil aviation sector.
Dealers in the test equipment market are prominently confronted by growing demand for advanced avionics systems. The attempt to align legacy systems with upcoming technology in the line-replaceable units (LRU) space is also a driving factor for the test equipment market.
With the increased budget cuts and program delays, the military is increasingly focusing to upgrade and extend the life of its existing aircraft, which is driving the test equipment market with better precision and accuracy. The market is expected to grow from $0.89 billion in 2014 to reach $1.10 billion by 2020. The North American aviation test equipment market is expected to grow at a CAGR of 3.79% from 2014 to 2020.
Browse through the market data tables, figures and detailed TOC on the “North America Aviation Test Equipment Market”.
http://www.micromarketmonitor.com/market/north-america-aviation-test-equipment-6814991262.html
Related Reports
South America Aviation Test Equipment Market
With high probability of increase in air travel and air passengers in the coming years, considering the 2014 FIFA World Cup and the 2016 Summer Olympics, the measures for expanding existing fleets or MRO will drive the test equipment market. Thus, the Latin American aviation test equipment market is expected to reach $0.41 billion by 2020 from $0.27 billion in 2014. The Latin American aviation test equipment market is expected to grow at a CAGR of 3.43% from 2014 to 2020.
The demand for test systems is expected to emerge along with the rising demand for unmanned aircraft systems and manned platforms as well. Fuelling this demand are factors such as rising costs, complexity and miniaturization of the unmanned aerial system (UAS) and subsystems such as payloads, data links, and communications equipment.
http://www.micromarketmonitor.com/market/south-america-aviation-test-equipment-4896235882.html
European Aviation Test Equipment Market
A scalable and configurable tester enables the adoption of different steps to encounter various applications in depot, and also in the field at intercessor sites, which also harmonizes the original equipment manufacturers (OEM) avionics and the depot of the end-users. This magnifies the investment in test program development, and this synchronization drives incredible savings and proficiency in sustainment.
The European aviation test equipment market is expected to reach $0.41 billion by 2020 from $0.27 billion in 2014. The market is expected to grow at a CAGR of 3.43% from the year 2014 to 2020 as the present procurement trends in the European region depicts the preference of governments towards multiple-award, indefinite delivery, and indefinite quantity omnibus contracts for integrated solutions which requires pre-qualifications and meticulous testing.
http://www.micromarketmonitor.com/market/europe-aviation-test-equipment-2334250906.html
Asia Pacific Aviation Test Equipment Market
Most nations in this region are growing at a very fast pace. This in turn has led to an increase in the number of passengers travelling through flights, thus the test equipment market in this region is likely to grow ceaselessly. The APAC test equipment market is primarily driven by replacement schedules and programs. The market is expected to grow at a CAGR of 3.66% to reach $1.29 billion by 2020, from $1.04 billion in 2014.
The transformation and enhancement of test equipment are being attached to the family of fundamental or standardized testers. The multi-use test systems for multiple weapons platforms are fabricated to encounter the enhanced requirements of additional systems, which are driving the market towards restructuring flexibility in test equipment system architecture, in this region.
http://www.micromarketmonitor.com/market/asia-pacific-aviation-test-equipment-2806704556.html
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