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The growth regions for the test equipment market are Asia-Pacific and the Middle East
According to Yajan Dua, research associate, Aerospace and Defense business unit at MarketsandMarkets, the global aviation test equipment market is expected to reach $7.15 billion by 2020. The CAGR for the global aviation test equipment market is expected to register a growth rate of 0.0364% from 2014 to 2020. The growth regions for the test equipment market are Asia-Pacific and the Middle East. Countries like Malaysia, France, China, UAE, and Singapore are expected to show consistent level of growth in the market.
The U.S. and the Northern European countries will slash their spending in the aviation test equipment.
The platform costs upsurge at a higher rate than test equipment.As test equipment becomes more proficient, and the effects of budget austerity continues to make themselves felt, the (already small) percentage of platform cost spent on the type of equipment; electrical, hydraulic, pneumatic, and power, will plummet, perhaps dramatically. Market dynamics will be governed and measured as a function of demand rather than a ratio against platform cost.
Market players such as Boeing and Airbus among others, are consuming the test equipment market, which is being strengthened by the arrival of new and advanced aircraft in the commercial as well as defense sector.
Aviation Test Equipment Market by Segments (Electrical, Hydraulic, Pneumatic, Power), by Application (Military and Commercial), & by Geography (North America, Latin America, Asia-Pacific, Europe, the Middle East, Africa & ROW) - Global Forecasts & Analysis 2014–2020
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