New York, Nov. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the launch of the “Composite Testing Market: Trends, Forecast and Competitive Analysis” report – https://www.reportlinker.com/p06362727/?utm_source =GNW
Composites Testing Market Trends and Forecasts
The future of the composites testing market looks promising, with opportunities in the aerospace and defense, automotive and wind energy markets. The global composites testing market is expected to reach approximately USD 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 applications composites in various industries and strict regulations and certification standards for safety.
Emerging trends in the composites testing market
Emerging trends that have a direct impact on industry dynamics include shearography testing gaining popularity in the aerospace and wind energy industries.
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Composites Testing Market by Segment
The study includes trends and forecasts for the global composite testing market by source type, end-use industry, type, product and region as follows:
Composites Testing Market by Source Type [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• Internal
• Outsource
Composites test market after end use [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• Aerospace and Defense
• Automobiles
• Wind power
• Pipeline and tank
• Others
Composites Testing Market by Type [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• Non-destructive testing
o Ultrasound
o Thermography
an X-ray
a Shearography
o Others
• Destructive testing
a Stretch
o Fatigue
o Impact
a Flexion
o Compression
o Others
Composites Testing Market by Product [Value ($B) and Volume (M lbs.) shipment analysis for 2016 – 2027]:
• Composites with polymer matrix
• Metal matrix composites
• Ceramic matrix composites
Composites Testing Market by Region [Value ($B) shipment analysis for 2016 – 2027]:
• North America
• Europe
• Asia Pacific
• The rest of the world
List of composite testing companies
The companies on the market compete based on the quality of the product offered. Major players in this market are focusing on expanding manufacturing facilities, investing in R&D, developing infrastructure, and capitalizing on integration opportunities along the value chain. With these strategies, composite testing companies respond to growing demand, ensure competitive efficiency, develop innovative products and technologies, reduce production costs, and expand their customer base. Some of the composite testing companies featured in this report include
• Boeing
• Airbus
• Exova Group (Element Materials Technology)
• Intertek Group
• Mistras Group
• Westmoreland Mechanical Testing and Research
• Applus+labs
Composites Testing Market Analysis
• The analyst predicts that the aerospace and defense sector will remain the largest and fastest growing due to increasing aircraft production and stringent regulatory and certification standards for aircraft safety.
• Non-destructive testing will remain the largest segment and is also expected to witness the highest growth during the forecast period due to the increasing demand for ultrasonic testing in the aerospace and defense, wind power, and automotive industries.
• North America will remain the largest region owing to the presence of aerospace and defense OEMs and parts suppliers during the forecast period.
Characteristics of the composites testing market
• Market Size Estimates: Composites testing the market size estimate in terms of value ($ billion)
• Trend and forecast analysis: Market trends (2016-2021) and forecasts (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by source type, by end-use industry, type, product and region
• Regional Analysis: Composite Testing Market Breakdown by North America, Europe, Asia Pacific and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different types of end-use sources, type, product and regions for Composites Testing Market.
• Strategic Analysis: This includes M&A, new product development and the competitive landscape for the composites testing market.
• Analysis of the competitive intensity of the industry based on Porter’s five forces model.
FAQ
Q1. What is the market size for composites testing?
Answer: The global composites testing market is expected to reach approximately USD 1.5 billion by 2027.
Q2. What is the growth forecast for the Composite 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 key factors influencing the growth of the Composite Testing market?
Answer: The major drivers for this market are the increase in aircraft deliveries, the development of new composite applications in various industries, and strict regulations and certification standards for safety.
Q4. What are the major applications or end-use industries for Composites Testing?
Answer: Aerospace and defense, automotive and wind energy are the main end-use industries for composites testing.
Q5. What are the emerging trends in the composite testing market?
Answer: Emerging trends that have a direct impact on industry dynamics include the gaining popularity of shearography testing in the aerospace and wind energy end-use industries.
Q6. Who are the Key Composites Testing Companies?
Answer: Some of the key composite testing companies are as follows:
• Boeing
• Airbus
• Exova Group (Element Materials Technology)
• Intertek Group
• Mistras Group
• Westmoreland Mechanical Testing and Research
• Applus+labs
Q7.
Which composite testing product segment will be the largest in the future?
Answer: The analyst estimates that non-destructive testing will remain the largest segment and is also expected to witness the highest growth during the forecast period due to the increasing demand for ultrasonic testing in the aerospace and defense industry, wind power and auto industry.
Q8: In the composite testing market, which region is expected to be the largest in the next 5 years?
Answer: North America is expected to remain the largest region and see the highest growth over the next 5 years
Q9. Are we getting personalization in this report?
Answer: Yes, the analyst offers 10% customization at no additional cost.
This report answers the following 11 key questions
Q.1 What are some of the most promising potential and growth opportunities for the global composites testing market by source type (in-house and outsourced) by end-use industry (aerospace & defense, automotive, wind energy , pipes and tanks 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 rest the world)?
Q. 2 Which segments will grow at a faster rate and why?
Q.3 Which regions will grow at a faster rate and why?
Q.4 What are the key factors affecting market dynamics? What are the causes and challenges of the market?
Q.5 What are the commercial 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 driving these developments?
Q.9 Who are the main 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 field and how much of a threat do they pose to losing market share through 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 the composites testing market or composites testing market share, composites testing market analysis and composites testing market size, write to Lucintel analysts at [email protected] We will be happy to get back to you soon.
Read the full report: https://www.reportlinker.com/p06362727/?utm_source=GNW
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