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  • Composites Testing Equipment Market Analysis | 2017-2022

    Composites Testing Equipment Market Analysis | 2017-2022

    Composites Testing Equipment Market Analysis | 2017-2022
    Report code - SRAM153 Delivery - 2 Weeks
    Composites Testing Equipment Market Size, Share, Trend, Forecast, Competitive Analysis, an See more...

    Market Highlights

    The Composites Testing Equipment Market is likely to witness an impressive CAGR of 6.7% during the forecast period.

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    What is composites testing equipment?

    Composites testing equipment refers to specialized tools used to assess the mechanical properties of composite materials. It includes instruments for evaluating tensile strength, impact resistance, and other factors crucial for ensuring the quality and performance of composite structures. These tools are essential for research, development, and quality control in diverse industries.

    Market drivers

    The market is driven by increasing production rates of the best-selling aircraft coupled with increasing penetration for composites, development of new composite applications in different industries, increasing demand for quality products, increasing research & development activities, increasing demand for lightweight materials, and introduction of stringent regulations.

    Segments Analysis

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented in the following ways:

    By End-Use Industry Type:

    • Aerospace & Defense 
    • Transportation 
    • Building & Construction 
    • Wind Energy 
    • Marine 
    • Others 

    By Composite Type:

    • Polymer Matrix Composites 
    • Ceramic Matrix Composites 
    • Metal Matrix Composites 

    By Testing Type:

    • Destructive Testing
      • Regional Analysis 
      • Testing Type Analysis 
    • Non-Destructive Testing
      •  Regional Analysis 
      • Testing Type Analysis 

    By Technique Type:

    • Volumetric Examination 
    • Surface Examination 
    • Condition Monitoring 
    • Others 

    By Region:

    • North America 
    • Europe 
    • Asia-Pacific 
    • Rest of the world 

    By End-Use Industry Type

    The market is segmented into aerospace & defense, transportation, building & construction, wind energy, marine, and others. The aerospace & defense is expected to remain the most dominant segment of testing equipment in the composites industry over the next five years. Increasing production rates of the key commercial and regional aircraft, such as B737, B787, A350XWB, A320, and Bombardier C Series; development of new aircraft or variants of existing programs, such as B737max, A320neo, B777x, and A330 neo; introduction of stringent regulations; and increasing penetration of composites are the major drivers of the market.

    Transportation is estimated to experience the highest growth during the forecast period, driven by the increasing penetration of composites in the structural parts in the automotive industry. The increasing penetration of composites is largely because of the implementation of stringent regulations on automakers by governments of many countries regarding the enhancement in fuel efficiency and reduction in carbon emissions.

    By Composite Type

    The market is segmented into polymer matrix composites, ceramic matrix composites, and metal matrix composites. Polymer matrix composite generates the highest demand for testing equipment and is expected to remain the largest composite type over the next five years, driven by the dominance of polymer matrix composites in various end-use industries.

    By Testing Type

    The market is segmented as destructive and non-destructive testing. Destructive testing equipment is further segmented into impact testing, static testing, dynamic testing, and others. Similarly, non-destructive testing equipment is further segmented into radiography testing equipment, shearography testing equipment, ultrasonic inspection equipment, visual inspection equipment, eddy-current testing equipment, and thermography testing equipment. Non-destructive testing equipment is expected to remain the most dominant over the next five years, driven by its higher usage in a wide array of end-use industries ranging from aerospace & defense, and transportation, to wind energy.

    Regional Analysis

    The composites testing equipment market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America, driven by the USA, holds the largest share of the global composite testing equipment market. The region is the manufacturing capital of the advanced composites industry with the presence of all the major players. This region also holds a healthy share in the other composite markets including wind energy, transportation, building & construction, and marine. The continuous shift of automobile manufacturing plants to Mexico is likely to create a strong demand for composites and testing equipment.

    Asia-Pacific is projected to witness the highest growth during the forecast period, driven by China and India. Development of indigenous commercial, regional, and military aircraft, such as COMAC C919, ARJ21, and Mitsubishi MRJ; commencement of assembly plants of major commercial aircraft, such as A320 in China; the highest wind turbine installation; and increasing penetration of composites in the transportation industry are some of the major growth drivers of the region.

    Key players

    New product development and collaboration with customers are some of the key strategies adopted by companies to gain a competitive edge over other competitors. The following are the key players in the composites testing equipment market:

    • General Electric Company
    • Olympus Corporation
    • Sonatest Ltd.
    • Mistras Group
    • Yxlon International GmbH
    • Zetec Inc.
    • Ashtead Technology Inc.
    • Bosello High Technology SRL.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Composites Testing Equipment Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The composites testing equipment market is expected to grow at a CAGR of 6.7% during the forecast period.

    Factors like increasing production rates of the best-selling aircraft coupled with increasing penetration for composites & development of new composite applications in different industries are some of the primary reasons driving industry growth.

    North America holds the largest share of the global composite testing equipment market during the forecast period.

    Asia-Pacific is projected to witness the highest growth in the composite testing equipment market during the forecast period.

    The aerospace & defense remained the most dominant segment of testing equipment in the composites industry.

    General Electric Company, Olympus Corporation, Sonatest Ltd., Mistras Group, Yxlon International GmbH, Zetec Inc., Ashtead Technology Inc., and Bosello High Technology SRL are among the key players in the composite testing equipment market.