The Market of Avionics and Radio Test to grow beyond US$ 2.1 billion by 2025
February 11, 2020
Avionics and Radio Test Market Overview:
In recent years, the market is witnessing a gradual consolidation as major players are acquiring other players to strengthen their product portfolio and expand their geographical reach. For instance, in 2019, Astronics Corporation acquired Freedom Communication Technologies to strengthen its position in the radio test market. Similarly, in 2018; Viavi Solutions, Inc. acquired Cobham’s AvComm (Advanced Communication and connectivity) business unit to diversify its operation into military, public safety, and avionics test markets.
The demand for test and measurement equipment in the aerospace industry has been vigorous over the past few years whose credit goes to the excellent organic growth of both civil as well as military aviation coupled with ongoing advancements in technologies, necessitating the importance to equipment. The aerospace & defense industry has been one of the biggest users of test and measurement equipment in which avionics and test equipment play the major role. It is estimated that the market for avionics and radio test is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 2.1 billion in 2025.
Report Overview:
This new report from Stratview Research analyses the Avionics and Radio Test Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report here:
https://www.stratviewresearch.com/Request-Sample/668/avionics-and-radio-test-market.html
Avionics and Radio Test Market Segment Insights:
Commercial aircraft: The growth engine
Based on the platform type, the market is segmented into commercial aircraft and defense and security. Commercial aircraft is expected to remain the larger segment of the market during the forecast period. Increasing deliveries of commercial and regional aircraft to support rising air passenger traffic, growing demand for fuel-efficient aircraft, and expanding aircraft fleet size are the key growth drivers of the segment’s market. A320neo family, B787, and A350XWB would remain the growth engines of the market.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/668/avionics-and-radio-test-market.html
A highly/moderately/fragment consolidated Market
The key players in the avionics and radio test market are Viavi Solutions, Inc., Tel-Instrument Electronics Corporation, Astronics Corporation, Lockheed Martin Corporation, Keysight Technologies, Inc., National Instrument Corporation, Rohde and Schwarz GmbH & Co. KG, General Dynamics Corporation, the Boeing Company, and Teradyne, Inc. Formation of long-term contracts, new product developments, and strategic alliances are the key strategies adopted by major players to gain a competitive edge in the market.
The supply chain of this market comprises of avionics and radio test equipment suppliers, avionics and radio system manufacturers, distributors/part brokers, and end-users.
Regional Hegemony of North America & the dominance of Radio Test
In terms of region, North America is projected to remain the largest market for avionics and radio tests during the forecast period. The USA is the growth engine of the region’s market and has one of the largest fleets of commercial and military aircraft in the world. Increasing defense budget from the past three years (2016-2018) coupled with increasing demand for F-35 and KC-46 Pegasus aircraft is the pith behind the growing demand for test and measurement equipment in the country. Mexico, a diminutive market in front of giant USA, is also estimated to grow at a healthy pace in the coming five years, propelled by higher proximities of the country to the USA. Aerospace companies are opening their plants in the country to leverage the country’s business-friendly policies, high proximity to the USA, and low-cost labor.
Asia-Pacific is likely to witness the highest growth in the market during the forecast, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ). The region owns the largest fleet of commercial aircraft for which there is a colossal requirement for test and measurement equipment.
Based on the product type, the market is segmented into avionics test, radio test, and synthetic test. Radio test is expected to remain the dominant segment during the forecast period. Radio test systems are majorly used to test military radio and private mobile radio in commercial aircraft. However, recent developments in the areas of synthetic test are likely to transform the present market scenario. It is expected that synthetic test systems will be used to test various applications of avionics and radio systems used in aircraft and helicopters.
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