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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 $2 billion by 2030 with a CAGR of 5% from 2023 to 2030. 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.- The publisher 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. Wind energy is expected to witness highest growth over the forecast period.
- 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.
- APAC will remain the largest region and it is also expected to witness highest growth over the forecast period due to the growth of wind energy and automotive end uses in this region.
APAC will remain the largest market in the Composites Testing Market
1. United States: Companies like Exova Group and Element Materials Technology are expanding their composite testing services to support aerospace and automotive industries. The US government's investment in advanced materials research and defense applications drives market growth.2. Germany: German firms such as TÜV SÜD and DEKRA are enhancing their testing capabilities for composites used in automotive and wind energy sectors. Government initiatives promoting industrial innovation and renewable energy projects support this expansion.
3. China: Companies like SGS China and CTC Testing are increasing their composite testing facilities to cater to the growing aerospace and construction sectors. The Chinese government's focus on high-tech manufacturing and infrastructure development fuels market growth.
4. United Kingdom: Firms such as Element Materials Technology and Intertek Group are investing in advanced testing equipment to support the aerospace and automotive industries. The UK government's emphasis on innovation and technology development in manufacturing drives these initiatives.
5. Japan: Japanese companies like Nippon Kaiji Kyokai (ClassNK) and Toray Industries are enhancing composite testing capabilities to support automotive and electronics sectors. Government policies promoting advanced materials research and technology innovation drive market expansion.
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 industryA total of 83 figures / charts and 59 tables are provided in this 135-page report to help in your business decisions.
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 ($M) and Volume (M lbs.) Shipment Analysis for 2018 - 2030]:
- In-house
- Outsource
Composites Testing Market by End Use [Value ($M) and Volume (M lbs.) Shipment Analysis for 2018 - 2030]:
- Aerospace and Defense
- Automotive
- Wind Energy
- Pipe and Tank
- Others
Composites Testing Market by Type [Value ($M) and Volume (M lbs.) Shipment Analysis for 2018 - 2030]:
- Non Destructive Testing
- Ultrasonic
- Thermography
- Radiography
- Shearography
- Others
- Destructive Testing
- Tensile
- Fatigue
- Impact
- Flexure
- Compression
- Others
Composites Testing Market by Product [Value ($M) and Volume (M lbs.) Shipment Analysis for 2018 - 2030]:
- Polymer Matrix Composites
- Metal Matrix Composites
- Ceramic Matrix Composites
Composites Testing Market by Region [Value ($M) Shipment Analysis for 2018 - 2030]:
- 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+
Composites Testing Market Insight
- The publisher 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. Wind energy is expected to witness highest growth over the forecast period.
- 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.
- APAC will remain the largest region and it is also expected to witness highest growth over the forecast period due to the growth of wind energy and automotive end uses in this region.
Features of Composites Testing Market
- Market Size Estimates: Composites testing market size estimation in terms of value ($M)
- Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) 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 $2 billion by 2030.
Q2. What is the growth forecast for composites testing market?
Answer:The composites testing market is expected to grow at a CAGR of 5% from 2023 to 2030.
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+
Answer: The publisherforecasts 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 publisher provides 10% Customization Without any Additional Cost.
This report answers the 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?
Table of Contents
1. Executive Summary
2. Global Composites Testing Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- Boeing
- Airbus
- Exova Group (Element Materials Technology)
- Intertek Group
- Mistras Group
- Westmoreland Mechanical Testing & Research
- Applus+laboratories
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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