Testing in TIC is a process that ensures components, products, and systems to meet their intended purpose.
The most critical factor for the survival of any manufacturing company is inspection and testing which are the operating parts of quality control. Factors such as cost, productivity, on-time delivery, and market share are directly supported by the quality control.
The rising mandatory certification, urbanization, and amalgamation of new technologies in manufacturing operations are the primary factors for increase in demand for the aerospace and aviation industry. Furthermore, the concern regarding product safety and quality will propel the TIC market for the aerospace and aviation industry across the globe. Implementation of developed technologies like Artificial Intelligence, machine learning, and 3D printing in aerospace manufacturing operations also contribute to the growth of TIC market for aerospace and aviation industry.
Government regulations, industry standards, certifications, and penalties for non-compliance are expected to rise the demand for Testing, Inspection, and Certification (TIC) services in the aerospace and aviation industry. In addition, advancements in digital technologies and telecommunications, government support for aviation industry development, growing number of air passengers, initiatives for research and development, expansion of professional networks, and the rise of SMEs in the aerospace sector will drive the growth of the TIC market in aerospace and aviation.
Global TIC Market for Aerospace & Aviation Industry is Expected to Reach USD 10.8 Billion by 2030
The global TIC market for the aerospace & aviation industry is expected to grow at a CAGR of 3.5% during the forecast period of 2023-2030. The market is driven by the rising demand for safe and reliable aerospace products and components, increasing production in the aerospace industry, and the use of new materials in aircraft.
TIC Services in the Aerospace & Aviation Industry
TIC services in the aerospace & aviation industry include testing, inspection, and certification. These services help to improve the quality of the manufacturing process by ensuring that products and components meet the required standards and regulations. TIC services also help to ensure the safety of aerospace products and components.
Key Drivers of the Global TIC Market
The key drivers of the global TIC market for the aerospace & aviation industry include:
Rising demand for safe and reliable aerospace products and components
Increasing production in the aerospace industry
Use of new materials in aircraft
Mandatory aviation regulations and certification standards for aircraft safety
Growing investment in aerospace industries
Increasing demand for good quality and standard products in the industry
Key Trends in the Global TIC Market
The key trends in the global TIC market for the aerospace & aviation industry include:
The increasing use of digital technologies in TIC services
The growing focus on sustainability in the aerospace & aviation industry
The increasing demand for TIC services in emerging markets
Regional Analysis of the Global TIC Market
The global TIC market for the aerospace & aviation industry is segmented by region into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is the leading market for TIC services in the aerospace & aviation industry, followed by Europe and Asia-Pacific.
Competitive Landscape of the Global TIC Market
The global TIC market for the aerospace & aviation industry is competitive. The key players in the market include:
Intertek Group Plc
Bureau Veritas
DNV GL
SGS SA
TUV SUD
ALS Limited
Applus+
TUV Nord
MISTRAS Group, Inc.
These players offer a wide range of TIC services to the aerospace & aviation industry. They are also investing in research and development to develop new TIC services.
Future of the Global TIC Market
The global TIC market for the aerospace & aviation industry is expected to grow at a CAGR of 3.5% during the forecast period. The market is expected to be driven by the rising demand for safe and reliable aerospace products and components, increasing production in the aerospace industry, and the use of new materials in aircraft.
The increasing use of digital technologies in TIC services is also expected to drive the growth of the market. The growing focus on sustainability in the aerospace & aviation industry is also expected to create opportunities for the market.