Yahoo Finance Composites Testing Market Trends and ForecastThe global composites testing market is expected to reach an estimated $1.5 billion by 2027 with a CAGR of 7.0% from 2021 to 2027
Trends, opportunities and forecast in composites testing market to 2027 by end use industry (aerospace and defense, automotive, wind energy, pipe and tank and others), by type (non-destructive testing and destructive testing) by product (polymer matrix composites, metal matrix composites and ceramix matrix composites), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
New York, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Composite Testing Market: Trends, Forecast and Competitive Analysis" - https://www.reportlinker.com/p06362727/?utm_source=GNW
Composites Testing Market Trends and Forecast
The future of the composites testing market looks promising with opportunities in the aerospace & defense, automotive, and wind energy end use market. The global composites testing market is expected to reach an estimated $1.5 billion by 2027 with a CAGR of 7.0% from 2021 to 2027. The major drivers for this market are increasing aircraft deliveries, development of new composite applications in various industries, and stringent regulations & certification standards for the safety.
Emerging Trends in the Composites Testing Market
Emerging trends, which have a direct impact on the dynamics of the industry, includes gaining popularity of shearography testing in aerospace, and wind energy end use industry
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Composites Testing Market by Segment
The study includes trends and forecast for the global composites testing market by source type, by end use industry, type, product, and region as follows:
Composites Testing Market by Source Type [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• In-house
• Outsource
Composites Testing Market by End Use [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• Aerospace and Defense
• Automotive
• Wind Energy
• Pipe and Tank
• Others
Composites Testing Market by Type [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• Non Destructive Testing
o Ultrasonic
o Thermography
o Radiography
o Shearography
o Others
• Destructive Testing
o Tensile
o Fatigue
o Impact
o Flexure
o Compression
o Others
Composites Testing Market by Product [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• Polymer Matrix Composites
• Metal Matrix Composites
• Ceramic Matrix Composites
Composites Testing Market by Region [Value ($B) shipment analysis for 2016 – 2027]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Composites Testing Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies composites testing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites testing companies profiled in this report include.
• Boeing
• Airbus
• Exova Group (Element Materials Technology)
• Intertek Group
• Mistras Group
• Westmoreland Mechanical Testing & Research
• Applus+laboratories
Composites Testing Market Insight
• The analyst forecasts that aerospace and defense will remain the largest and the fastest growing segment due to growing production of aircrafts and stringent regulation and certification standards for the aircraft safety.
• Non-destructive testing will remain the largest segment and it is also expected to witness the highest growth during the forecast period due to increasing demand for ultrasonic testing in the aerospace and defense, wind energy and automotive industry.
• North America will remain the largest region due to presence of aerospace & defense OEMs and part suppliers over the forecast period.
Features of Composites Testing Market
• Market Size Estimates: Composites testing market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by source type, by end use industry, type, product and region
• Regional Analysis: Composites testing market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different end use source type, type, product and regions for the composites testing market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the composites testing market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the composites testing market size?
Answer: The global composites testing market is expected to reach an estimated $1.5 billion by 2027.
Q2. What is the growth forecast for composites testing market?
Answer: The composites testing market is expected to grow at a CAGR of 7.0% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the composites testing market?
Answer: The major drivers for this market are increasing aircraft deliveries, development of new composite applications in various industries, and stringent regulations & certification standards for the safety.
Q4. What are the major applications or end use industries for composites testing?
Answer: Aerospace & defense, automotive, and wind energy are the major end use industries for composites testing.
Q5. What are the emerging trends in composites testing market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, includes gaining popularity of shearography testing in aerospace, and wind energy end use industry.
Q6. Who are the key composites testing companies?
Answer: Some of the key composites testing companies are as follows:
• Boeing
• Airbus
• Exova Group (Element Materials Technology)
• Intertek Group
• Mistras Group
• Westmoreland Mechanical Testing & Research
• Applus+laboratories
Q7.
Which composites testing product segment will be the largest in future?
Answer: The analyst forecasts that non-destructive testing will remain the largest segment and it is also expected to witness the highest growth during the forecast period due to increasing demand for ultrasonic testing in the aerospace and defense, wind energy and automotive industry.
Q8: In composites testing market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region and witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer: Yes, The analyst provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global composites testing market by source type (in-house and outsource) by end use industry (aerospace and defense, automotive, wind energy, pipe and tank and others), by type (non-destructive testing and destructive testing) by product (polymer matrix composites, metal matrix composites and ceramix matrix composites), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
For any questions related to composites testing market or related to composites testing market share, composites testing market analysis, and composites testing market size, write to Lucintel analysts at helpdesk@lucintel.com. We will be glad to get back to you soon.
Read the full report: https://www.reportlinker.com/p06362727/?utm_source=GNW
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