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As per Technavio's global aviation test equipment industry report, the growth of the market is expected to be at a CAGR of nearly 4% during the forecast period. The introduction of low-emission GEnx jet engine is one of the key growth drivers of the market. The GEnx engine is an advanced high-thrust jet engine with fuel-efficient capabilities. This engine was developed by Airbus A350 and Boeing 787 Dreamliner aircraft and has several advantages like fuel efficiency, noise-free performance, and reduced NOₓ emissions. The benefits of this engine have drawn many investments, which is expected to spur the aviation test equipment market worth in the coming years.
In this industry research report, the analysts have estimated that the growing demand in emerging economies is one of the key aviation test equipment market trends. Most aircraft flight-testing equipment manufacturers are moving to developing countries like Mexico, Brazil, Egypt, Libya, and Morocco. For instance, in 2010, AirAsia X signed a contract with Lufthansa Technik for maintenance, repair and overhaul services of its wide-body fleet of eight Airbus A330s and A340s. Therefore, the rising investments in emerging countries will aid in the growth of the aviation test equipment market size & share during the forecast period.
During 2015, the global commercial aviation test equipment segment dominated the market and accounted for a market share of more than 59%. The increasing number of orders and deliveries of commercial aircraft will fuel the growth of this market segment by 2020.
During 2015, the Americas dominated the aviation test equipment market and is anticipated to reach more than USD 2.5 billion by 2020. The mergers of major airlines in the US has made the country’s airline industry the most profitable in the world market. These airlines are also investing in advanced actuation and test equipment systems to enhance their flight safety and operations, which will aid in the growth of this market in the coming years.
The aviation test equipment market is highly competitive due to the presence of several large vendors in the market. The vendors compete on the basis of cost, product quality, reliability, and aftermarket service. It is imperative for the vendors to provide cost-effective and high-quality test equipment to survive in the competition.
Top vendors in the market are –
What are the key outcomes of the five forces analysis of the global aviation test equipment market?
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Global aerospace and defense supply chain system
PART 07: Global aerospace and defense value chain system
PART 08: Market segmentation by application
PART 09: Market segmentation by system
PART 10: Geographical segmentation
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
PART 18: Explore Technavio
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