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2021
Aerospace Tic Market

Aerospace TIC Market by Service Type (Testing, Inspection, and Certification), Sourcing Type (In-House, and Outsourced), Technology (3D printing, Artificial intelligence, and Machine learning), and Application (Public Sector, Automotive, Aerospace, Marine, Railways, Industrial Manufacturing, and Medical & Life Sciences)- Global Opportunity Analysis and Industry Forecast, 2021-2030.

A13228
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Nov 2021 | 49 Views
   
Author(s) : Sonia Mutreja
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COVID-19

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Testing, inspection, and certification (TIC) are used in the aerospace industry to improve product quality, safety, and efficiency. The aerospace TIC market is developing due to factors such as rising concerns about product safety and quality, as well as growing focus of TIC service providers through innovation and investments. Companies also offer its services to various industries, such as pharmaceutical, food, environmental, and consumer products industries, as well as governments. Rising product recalls around the world, implementation of stringent government regulations and standards across various sectors, rise in consumer demand in emerging markets, and increase in global counterfeiting and piracy activities drive aerospace testing, inspection, and certification market.

Market scope and structured analysis:

Report Metric

Details

  Market size available for years

  2020-2030

  Base year considered

  2020

  Forecast period

  2021-2030

  Forecast units

  Value(USD)

  Segment covered

Service Type, Sourcing Type, Technology, Application, and Region

  Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

  Companies covered

GS, Bureau Veritas, Intertek, TÜV NORD, TÜV SUD, Eurofins Scientific, TÜV Rheinland, Applus+, Element Material Technology, DNV GL, UL, ALS Ltd. and MISTRAS

 

COVID-19 Impact analysis

Impact of COVID-19 on TIC markets depends on each industry sector’s level of resilience. The level of disruption for oil, gas and aerospace industries contrasts heavily in comparison to food, agriculture and pharma TIC service providers.  The factors which determine the extent to which TIC players can return to their maximum operational capacity consist of labor intensity, government authorization that testing is an essential activity and the geographical factors holding up operations. In terms of supply chains, the biggest impacts of COVID-19 pandemic lie for sectors which have highly disrupted global supply chains for goods and specialized workforces. Therefore, remote and digital testing are the most advocated forms of adaptation for TIC players to carry out their services. The impact of COVID-19 has affected customer behavior, as importance of customer demands lies ahead of the regulatory minimum rate. This leads to a desire for ‘end to end’ visibility to establish a degree of confidence and assurance.

Top impacting factors

  • Growing demand of certified products in compliance with standard legislation, emergence of new TIC services and solutions amidst COVID-19, government health and safety policy at workplace are the major factors drives the growth of aerospace TIC market.
  • Cascading effect of Covid-19 on TIC Industry, and lack of global certification standards are the restraint that hindered the growth of the aerospace TIC market.
  • Diversification of businesses to generate new revenue pocket, and adoption of advance technologies in aerospace manufacturing operations are the major factors offering an opportunity for the growth of aerospace TIC market.

Emergence of TIC service

The aerospace TIC companies and product manufacturers have built their own testing, inspection, and certification services and evaluate the safety, quality, & efficiency of the products in line with regulatory requirements. The in-house testing in aerospace is helpful to maintain higher visibility and higher degree of control over processes and improves the delivery performance. Moreover, disadvantages associated with outsourced services including unexpected hidden costs, like logistics costs and others is also enabling the manufacturers to focus more on testing. The aerospace TIC involves the checking of products according to standard regulations/guidelines and particular specifications/requirements to achieve the product compliance. Aerospace TIC process reviews the appearance, structure, and functions related to the products and address the quality defects associated with the products prior reaching customers. This enables the products manufacturers to recheck the product features and helps the manufacturers to deliver highly efficient products to the customers and thereby increase customer support across the globe. For instance, in February 2018, Kareway Products, Inc (US) recalled Sterile Eye Irrigation Solution namely Gericare Eye Wash due to product contamination. Similarly, in February 2018, Apace Packaging LLC, recalled Acyclovir 400mg Tablets due to product mix-up. Such product issues are increasing concerns over product safety & quality from patients, physicians, and health authorities. This scenario is expected to support the necessity of TIC and expected to drive the growth of aerospace TIC market industry.

Adoption of advanced technologies in aerospace manufacturing operations

Industry 4.0 technologies could be the key to unlocking future competitiveness. There is a clear and compelling case for aerospace and defense companies to leverage these technologies and incorporate digital transformation throughout their organizations. The current state of Industry 4.0 adoption across manufacturing industries, major aerospace & defense organizations are adopting leveraging new digital technologies as key to market differentiation. Industry 4.0-driven technologies can impact every company that operates within the aerospace & defense industry, from original equipment manufacturers to small suppliers. Most aerospace and defense companies face significant challenges in developing new products and business models, with 40% of surveyed aerospace and defense executives stating the establishment of a new business or delivery models as the top challenge their company faces as it pursues digital transformation initiatives. Various space organizations are partnering for the development of advanced aerospace development capabilities. For instance, GKN Aerospace and the U.S. Energy Department’s Oak Ridge National Laboratory have recently partnered to develop a large-scale AM process for manufacturing large titanium aerospace components. Advanced robotic controls manipulate this melt pool along a 3D path to fabricate a large near-net or net-shaped aerospace preform, bead by bead, as defined by a computer-assisted design (CAD) model.

Key segments covered

Segments

Sub-segments

  Service type

  • Testing
  • Inspection
  • Certification

  Sourcing type

  • In-House
  • Outsourced

  Technology

  • 3D printing
  • Artificial intelligence
  • Machine learning

  Application

  • Public Sector
  • Automotive
  • Aerospace
  • Marine
  • Railways
  • Industrial manufacturing
  • Medical & Life Sciences

  Regions

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

 

Key Benefits of the Report

  • This study presents the analytical depiction of the aerospace TIC market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the aerospace TIC market
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the market growth scenario of aerospace TIC market.
  • The report provides a detailed aerospace TIC market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the aerospace TIC market research report:

  • Who are the leading players in the aerospace TIC market?
  • What are the critical challenges faced by manufacturers in the aerospace TIC market?
  • What are the market trends, driving factor and opportunities involved in this market?
  • What are the key segments covered in this aerospace TIC market?
  • What are the future projections of aerospace TIC market that would help in taking further strategic steps?
 
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